Stephen Mandel Lone Pine Capital
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Yum! Brands
YUM
|
+$693M |
| 2 |
SHPG
Shire pic
SHPG
|
+$457M |
| 3 |
Monster Beverage
MNST
|
+$438M |
| 4 |
Booking.com
BKNG
|
+$427M |
| 5 |
ATVI
Activision Blizzard
ATVI
|
+$378M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
JD.com
JD
|
+$585M |
| 2 |
AGN
Allergan plc
AGN
|
+$480M |
| 3 |
Microsoft
MSFT
|
+$440M |
| 4 |
BXLT
BAXALTA INC COM STK (DE)
BXLT
|
+$428M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$353M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 28.22% |
| 2 | Consumer Staples | 16.52% |
| 3 | Communication Services | 15.43% |
| 4 | Technology | 13.03% |
| 5 | Financials | 8.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Booking.com
BKNG
$158B
| $1.4B | 6.46% |
28,018,950
+8,228,025
| +42% | +$427M |
|
2
Dollar Tree
DLTR
$25.3B
| $1.26B | 5.81% |
13,362,151
+1,755,667
| +15% | +$149M |
|
3
Meta Platforms (Facebook)
META
$1.4T
| $1.25B | 5.77% |
10,941,237
-472,271
| -4% | -$54.4M |
|
4
Amazon
AMZN
$2.79T
| $1.18B | 5.43% |
32,877,360
-6,850,000
| -17% | -$232M |
|
5
Constellation Brands
STZ
$23.2B
| $1.1B | 5.09% |
6,666,012
+769,791
| +13% | +$121M |
|
6
Charter Communications
CHTR
$17.9B
| $1.1B | 5.06% |
4,792,408
+203,530
| +4% | +$43.7M |
|
7
Nike
NKE
$60.5B
| $1.01B | 4.66% |
18,305,703
+6,309,324
| +53% | +$359M |
|
|
8
Microsoft
MSFT
$3.59T
| $885M | 4.08% |
17,298,996
-8,472,553
| -33% | -$440M |
|
9
Equinix
EQIX
$105B
| $830M | 3.83% |
2,140,962
-183,368
| -8% | -$64M |
|
|
10
Yum! Brands
YUM
$41.8B
| $827M | 3.82% |
13,871,407
+11,767,424
| +559% | +$693M |
|
11
Corpay
CPAY
$27.4B
| $823M | 3.8% |
5,750,503
-153,900
| -3% | -$22.9M |
|
12
Ulta Beauty
ULTA
$22.4B
| $812M | 3.75% |
3,332,886
-30,082
| -0.9% | -$6.55M |
|
|
13
Monster Beverage
MNST
$93.6B
| $666M | 3.07% |
49,698,900
+36,324,168
| +272% | +$438M |
|
14
TransDigm Group
TDG
$66.4B
| $628M | 2.9% |
2,380,420
+262,561
| +12% | +$64.1M |
|
|
15
Alphabet (Google) Class C
GOOG
$4.18T
| $612M | 2.82% |
17,677,760
+2,100,000
| +13% | +$75.4M |
|
16
Northrop Grumman
NOC
$78.3B
| $588M | 2.71% |
2,647,065
-602,724
| -19% | -$127M |
|
17
AB InBev
BUD
$155B
| $554M | 2.56% |
4,207,607
+2,329,803
| +124% | +$293M |
|
18
lululemon athletica
LULU
$13.7B
| $547M | 2.53% |
7,410,304
+2,224,220
| +43% | +$148M |
|
19
Visa
V
$693B
| $535M | 2.47% |
7,207,771
-277,581
| -4% | -$21.7M |
|
20
Cheniere Energy
LNG
$57.3B
| $484M | 2.23% |
12,884,676
| – | – |
|
21
Adobe
ADBE
$109B
| $479M | 2.21% |
4,998,438
-74,670
| -1% | -$7.17M |
|
|
SHPG
22
DELISTED
Shire pic
SHPG
| $466M | 2.15% |
+2,529,148
| New | +$457M |
|
23
Vulcan Materials
VMC
$35.8B
| $454M | 2.1% |
3,772,719
+525,937
| +16% | +$59.6M |
|
24
Mastercard
MA
$509B
| $438M | 2.02% |
4,968,587
-108,000
| -2% | -$10.3M |
|
|
ATVI
25
DELISTED
Activision Blizzard
ATVI
| $408M | 1.88% |
+10,293,113
| New | +$378M |
|
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Stephen Mandel's Q2 2016 Portfolio in Review
As of Q2 2016, Stephen Mandel held 44 positions worth $21.7B, up 7.8% from $20.1B the previous quarter. Its ten largest holdings account for 50% of the portfolio.
Stephen Mandel's Q2 2016 filing shows 3 new, 16 increased, 12 reduced and 7 closed positions. Its largest new stake was Shire pic: 2,529,148 shares worth $466M. The largest sale was JD.com, an estimated $585M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 28% of assets, up from 25% a quarter earlier, followed by Consumer Staples and Communication Services.
- Stephen Mandel's largest Q2 2016 buy was Shire pic: 2,529,148 shares worth $466M.
- Stephen Mandel added most to Yum! Brands in Q2 2016, an estimated $693M increase.
- Stephen Mandel's biggest Q2 2016 reduction was Microsoft, cutting an estimated $440M.
- Stephen Mandel fully exited JD.com in Q2 2016, selling an estimated $585M.
- Stephen Mandel's ten largest holdings make up 50% of its $21.7B portfolio in Q2 2016.
- Stephen Mandel opened 3 new positions and closed 7 in Q2 2016.
- Stephen Mandel's portfolio value rose 7.8% quarter-over-quarter to $21.7B.
Based on Lone Pine Capital's 13F filing for Q2 2016, filed 15 Aug 2016.