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Stephen Mandel Lone Pine Capital

AUM $16.4B
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
+0.84%
1 Year Est. Return
+99.7%
3 Year Est. Return
+351.82%
5 Year Est. Return
+339.1%
10 Year Est. Return
+2,106.14%
AUM
$20.1B
AUM Growth
-$3.3B
Cap. Flow
-$3.2B
Cap. Flow %
-15.94%
Top 10 Hldgs %
50.18%
Holding
53
New
6
Increased
12
Reduced
19
Closed
12

Top Buys

Rank Stock Value
1
AGN
Allergan plc
AGN
+$512M
2
BXLT
BAXALTA INC COM STK (DE)
BXLT
+$419M
3
PYPL icon
PayPal
PYPL
+$377M
4
GOOG icon
Alphabet (Google) Class C
GOOG
+$262M
5
NOC icon
Northrop Grumman
NOC
+$211M

Top Sells

Rank Stock Value
1
WMB icon
Williams Companies
WMB
+$744M
2
BHC icon
Bausch Health
BHC
+$593M
3
WBA
Walgreens Boots Alliance
WBA
+$578M
4
ATVI
Activision Blizzard
ATVI
+$436M
5
V icon
Visa
V
+$384M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 24.86%
2 Communication Services 17.07%
3 Technology 14.53%
4 Consumer Staples 11.1%
5 Financials 9.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MSFT icon
1
Microsoft
MSFT
$3.59T
$1.42B 7.08%
25,771,549
-1,490,475
-5% -$78.1M
META icon
2
Meta Platforms (Facebook)
META
$1.4T
$1.3B 6.48%
11,413,508
+1,628,196
+17% +$172M
AMZN icon
3
Amazon
AMZN
$2.79T
$1.18B 5.87%
39,727,360
-4,417,680
-10% -$125M
BKNG icon
4
Booking.com
BKNG
$158B
$1.02B 5.08%
19,790,925
-1,069,600
-5% -$51.2M
DLTR icon
5
Dollar Tree
DLTR
$25.3B
$957M 4.76%
11,606,484
-1,587,638
-12% -$125M
CHTR icon
6
Charter Communications
CHTR
$17.9B
$929M 4.62%
4,588,878
-138,727
-3% -$24.9M
STZ icon
7
Constellation Brands
STZ
$23.2B
$891M 4.43%
5,896,221
+545,228
+10% +$78.8M
CPAY icon
8
Corpay
CPAY
$27.4B
$878M 4.37%
5,904,403
-529,800
-8% -$68.8M
EQIX icon
9
Equinix
EQIX
$105B
$769M 3.82%
2,324,330
+213,821
+10% +$65M
NKE icon
10
Nike
NKE
$60.5B
$737M 3.67%
11,996,379
+500,191
+4% +$30.2M
ULTA icon
11
Ulta Beauty
ULTA
$22.4B
$652M 3.24%
3,362,968
-213,996
-6% -$37.3M
NOC icon
12
Northrop Grumman
NOC
$78.3B
$643M 3.2%
3,249,789
+1,117,695
+52% +$211M
JD icon
13
JD.com
JD
$39.7B
$585M 2.91%
22,079,215
-4,916,296
-18% -$129M
GOOG icon
14
Alphabet (Google) Class C
GOOG
$4.18T
$580M 2.89%
15,577,760
+7,325,440
+89% +$262M
V icon
15
Visa
V
$693B
$572M 2.85%
7,485,352
-5,283,907
-41% -$384M
GOOGL icon
16
Alphabet (Google) Class A
GOOGL
$4.22T
$493M 2.45%
12,917,180
+4,831,240
+60% +$178M
MA icon
17
Mastercard
MA
$509B
$480M 2.39%
5,076,587
-1,074,000
-17% -$95M
AGN
18
DELISTED
Allergan plc
AGN
$480M 2.39%
+1,789,239
New +$512M
ADBE icon
19
Adobe
ADBE
$109B
$476M 2.37%
5,073,108
+1,060,923
+26% +$92M
TDG icon
20
TransDigm Group
TDG
$66.4B
$467M 2.32%
2,117,859
-53,500
-2% -$11.7M
LNG icon
21
Cheniere Energy
LNG
$57.3B
$436M 2.17%
12,884,676
+292,901
+2% +$9.49M
BXLT
22
DELISTED
BAXALTA INC COM STK (DE)
BXLT
$428M 2.13%
+10,591,296
New +$419M
PYPL icon
23
PayPal
PYPL
$52.7B
$403M 2%
+10,430,118
New +$377M
HDB icon
24
HDFC Bank
HDB
$121B
$362M 1.8%
23,512,372
– –
LULU icon
25
lululemon athletica
LULU
$13.7B
$351M 1.75%
5,186,084
-1,162,064
-18% -$69.8M
1
2 3

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Stephen Mandel's Q1 2016 Portfolio in Review

As of Q1 2016, Stephen Mandel held 53 positions worth $20.1B, down 14% from $23.4B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Stephen Mandel withdrew a net $3.2B in Q1 2016, closing 12 positions and reducing 19 holdings. Its most notable exit was Williams Companies, an estimated $744M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 25% of assets, up from 25% a quarter earlier, followed by Communication Services and Technology.

Against the trend, Stephen Mandel opened a new position in Allergan plc worth $480M.

  • Stephen Mandel's largest Q1 2016 buy was Allergan plc: 1,789,239 shares worth $480M.
  • Stephen Mandel added most to Alphabet (Google) Class C in Q1 2016, an estimated $262M increase.
  • Stephen Mandel's biggest Q1 2016 reduction was Visa, cutting an estimated $384M.
  • Stephen Mandel fully exited Williams Companies in Q1 2016, selling an estimated $744M.
  • Stephen Mandel's ten largest holdings make up 50% of its $20.1B portfolio in Q1 2016.
  • Stephen Mandel opened 6 new positions and closed 12 in Q1 2016.
  • Stephen Mandel's portfolio value fell 14% quarter-over-quarter to $20.1B.

Based on Lone Pine Capital's 13F filing for Q1 2016, filed 16 May 2016.