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Stephen Mandel Lone Pine Capital
AUM
$16.4B
Turnover
57.14%
1-Year Est. Return
99.7%
Stephen Mandel founded Lone Pine Capital, a long/short equity firm that became one of the most influential Tiger Cub franchises. Lone Pine is known for fundamental research and growth-oriented equity investing with risk management through shorting and portfolio construction. Even as the firm’s structure has evolved over time, Mandel’s name remains closely associated with institutional growth investing.
This Fund
S&P 500
This Quarter Est. Return
-4.63%
1 Year Est. Return
+99.7%
3 Year Est. Return
+351.81%
5 Year Est. Return
+339.1%
10 Year Est. Return
+2,106.13%
AUM
$24.6B
AUM Growth
-$2.17B
(-8.1%)
Cap. Flow
+$1.77B
Cap. Flow % of AUM
Cap. Flow %
7.2%
Top 10 Holdings %
Top 10 Hldgs %
41.87%
Holding
66
New
10
Increased
22
Reduced
15
Closed
14
Avg Time Held
Equity + Options
0.8
years
Top 10 Avg Time Held
Equity + Options
0.7
years
Top 20 Avg Time Held
Equity + Options
0.7
years
Avg Time Held Equity only
0.8
years
Top 10 Avg Time Held Equity only
0.7
years
Top 20 Avg Time Held Equity only
0.7
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$979M |
| 2 |
Constellation Brands
STZ
|
+$578M |
| 3 |
Electronic Arts
EA
|
+$560M |
| 4 |
Bausch Health
BHC
|
+$502M |
| 5 |
Charles Schwab
SCHW
|
+$406M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lowe's Companies
LOW
|
+$472M |
| 2 |
HCA Healthcare
HCA
|
+$454M |
| 3 |
Illumina
ILMN
|
+$430M |
| 4 |
Anywhere Real Estate
HOUS
|
+$411M |
| 5 |
MHFI
MCGRAW-HILL FINANCIAL INC COM
MHFI
|
+$364M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 22.09% |
| 2 | Healthcare | 17.87% |
| 3 | Technology | 13.15% |
| 4 | Communication Services | 11.03% |
| 5 | Financials | 9.66% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Bausch Health
BHC
$3.11B
| $1.33B | 5.42% |
7,461,780
+2,151,637
| +41% | +$502M |
2013 Q2
9 quarters
|
|
2
Booking.com
BKNG
$119B
| $1.23B | 5% |
24,806,300
-4,988,550
| -17% | -$248M |
2013 Q2
9 quarters
|
|
3
Charter Communications
CHTR
$15.9B
| $1.15B | 4.69% |
6,550,257
+1,172,945
| +22% | +$214M |
2014 Q3
4 quarters
|
|
4
JD.com
JD
$37.6B
| $1.13B | 4.62% |
43,495,999
+1,605,441
| +4% | +$46.4M |
2014 Q4
3 quarters
|
|
5
Microsoft
MSFT
$3.9T
| $1.12B | 4.57% |
25,339,024
-1,259,500
| -5% | -$56.6M |
2013 Q4
7 quarters
|
|
|
6
Amazon
AMZN
$2.87T
| $992M | 4.04% |
+38,740,040
| New | +$979M |
2015 Q3
0 quarters
|
|
7
Meta Platforms (Facebook)
META
$1.64T
| $962M | 3.92% |
10,702,259
+940,537
| +10% | +$86.3M |
2014 Q3
4 quarters
|
|
8
Corpay
CPAY
$29.6B
| $885M | 3.61% |
6,434,203
+955,588
| +17% | +$147M |
2013 Q2
9 quarters
|
|
9
Mastercard
MA
$575B
| $752M | 3.06% |
8,343,895
-1,382,737
| -14% | -$130M |
2013 Q3
8 quarters
|
|
10
Equinix
EQIX
$104B
| $725M | 2.95% |
2,650,775
-355,169
| -12% | -$97.4M |
2014 Q1
6 quarters
|
|
|
AGN
11
DELISTED
Allergan plc
AGN
| $709M | 2.89% |
2,607,655
+309,689
| +13% | +$95.1M |
2015 Q1
2 quarters
|
|
12
Nike
NKE
$56.5B
| $701M | 2.86% |
11,401,710
-2,910,010
| -20% | -$165M |
2015 Q1
2 quarters
|
|
13
Visa
V
$795B
| $681M | 2.77% |
9,769,463
+868,925
| +10% | +$62M |
2014 Q4
3 quarters
|
|
14
PUT
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$175M
| $672M | 2.74% |
10
| – | – |
2015 Q1
2 quarters
|
|
15
Williams Companies
WMB
$86.2B
| $651M | 2.65% |
17,675,229
+3,732,081
| +27% | +$186M |
2015 Q1
2 quarters
|
|
|
16
Illumina
ILMN
$31.3B
| $635M | 2.59% |
3,710,808
-2,126,728
| -36% | -$430M |
2015 Q1
2 quarters
|
|
|
17
DELISTED
Electronic Arts
EA
| $595M | 2.42% |
8,782,612
+7,988,172
| +1,006% | +$560M |
2015 Q2
1 quarter
|
|
18
Cheniere Energy
LNG
$62.9B
| $591M | 2.41% |
12,241,775
+4,298,264
| +54% | +$265M |
2014 Q2
5 quarters
|
|
|
19
Constellation Brands
STZ
$24.6B
| $587M | 2.39% |
+4,684,214
| New | +$578M |
2015 Q3
0 quarters
|
|
20
DaVita
DVA
$11B
| $573M | 2.33% |
7,918,998
+2,463,224
| +45% | +$191M |
2014 Q4
3 quarters
|
|
21
DELISTED
Walgreens Boots Alliance
WBA
| $564M | 2.3% |
6,787,816
+1,589,612
| +31% | +$144M |
2014 Q4
3 quarters
|
|
|
22
CALL
Charter Communications
CHTR
$15.9B
| $536M | 2.18% |
3,050,000
| – | – |
2015 Q2
1 quarter
|
|
23
Ulta Beauty
ULTA
$28.1B
| $535M | 2.18% |
3,276,408
+938,738
| +40% | +$155M |
2013 Q2
9 quarters
|
|
24
Adobe
ADBE
$94.5B
| $511M | 2.08% |
6,209,219
-3,055,220
| -33% | -$248M |
2014 Q1
6 quarters
|
|
25
TransDigm Group
TDG
$66.5B
| $471M | 1.92% |
2,215,423
| – | – |
2013 Q2
9 quarters
|
|
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Stephen Mandel's Q3 2015 Portfolio in Review
As of Q3 2015, Stephen Mandel held 66 positions worth $24.6B, down 8.1% from $26.7B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Stephen Mandel deployed $1.77B of net new capital in Q3 2015, opening 10 new positions and adding to 22 existing holdings. Its largest new stake was Amazon: 38,740,040 shares worth $992M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, up from 20% a quarter earlier, followed by Healthcare and Technology.
On the sell side, the largest reduction was Illumina, an estimated $430M trimmed.
- Stephen Mandel's largest Q3 2015 buy was Amazon: 38,740,040 shares worth $992M.
- Stephen Mandel added most to Electronic Arts in Q3 2015, an estimated $560M increase.
- Stephen Mandel's biggest Q3 2015 reduction was Illumina, cutting an estimated $430M.
- Stephen Mandel fully exited Lowe's Companies in Q3 2015, selling an estimated $472M.
- Stephen Mandel's ten largest holdings make up 42% of its $24.6B portfolio in Q3 2015.
- Stephen Mandel opened 10 new positions and closed 14 in Q3 2015.
- Stephen Mandel's portfolio value fell 8.1% quarter-over-quarter to $24.6B.
Based on Lone Pine Capital's 13F filing for Q3 2015, filed 16 Nov 2015.