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 |
CSX Corp
CSX
|
+$657M |
| 2 |
Comcast
CMCSA
|
+$510M |
| 3 |
IQVIA
IQV
|
+$466M |
| 4 |
Gen Digital
GEN
|
+$374M |
| 5 |
T-Mobile US
TMUS
|
+$367M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$969M |
| 2 |
Microsoft
MSFT
|
+$945M |
| 3 |
Williams Companies
WMB
|
+$508M |
| 4 |
TransDigm Group
TDG
|
+$505M |
| 5 |
PayPal
PYPL
|
+$493M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.29% |
| 2 | Communication Services | 24.69% |
| 3 | Consumer Discretionary | 17.71% |
| 4 | Consumer Staples | 8.89% |
| 5 | Healthcare | 6.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Charter Communications
CHTR
$17.9B
| $1.86B | 9.76% |
5,670,234
+954,462
| +20% | +$304M |
|
|
ATVI
2
DELISTED
Activision Blizzard
ATVI
| $1.24B | 6.5% |
24,800,690
+4,152,156
| +20% | +$182M |
|
3
Constellation Brands
STZ
$23.2B
| $1.18B | 6.19% |
7,261,717
+881,400
| +14% | +$137M |
|
4
Broadcom
AVGO
$1.75T
| $1.16B | 6.13% |
53,195,910
+17,561,260
| +49% | +$362M |
|
5
Nike
NKE
$60.5B
| $1.07B | 5.62% |
19,159,688
+4,762,738
| +33% | +$263M |
|
6
Alibaba
BABA
$286B
| $1.07B | 5.61% |
9,896,713
+2,277,604
| +30% | +$232M |
|
|
7
Gen Digital
GEN
$17.3B
| $812M | 4.27% |
26,451,017
+13,179,109
| +99% | +$374M |
|
8
Meta Platforms (Facebook)
META
$1.4T
| $725M | 3.82% |
5,106,308
-821,600
| -14% | -$110M |
|
|
EA
9
DELISTED
Electronic Arts
EA
| $696M | 3.66% |
7,779,975
-1,642,200
| -17% | -$140M |
|
10
Corpay
CPAY
$27.4B
| $682M | 3.59% |
4,501,773
-187,062
| -4% | -$29.3M |
|
|
11
CSX Corp
CSX
$95.6B
| $669M | 3.52% |
+43,135,269
| New | +$657M |
|
12
Adobe
ADBE
$109B
| $627M | 3.3% |
4,814,596
-213,003
| -4% | -$25M |
|
13
Equinix
EQIX
$105B
| $573M | 3.01% |
1,431,461
-481,223
| -25% | -$183M |
|
14
Visa
V
$693B
| $548M | 2.88% |
6,165,815
-385,662
| -6% | -$33.2M |
|
15
Booking.com
BKNG
$158B
| $529M | 2.78% |
7,427,250
-184,525
| -2% | -$12.2M |
|
|
16
Comcast
CMCSA
$95.3B
| $516M | 2.72% |
+13,740,082
| New | +$510M |
|
17
Dollar Tree
DLTR
$25.3B
| $513M | 2.7% |
6,544,364
-2,771,770
| -30% | -$213M |
|
|
18
IQVIA
IQV
$42.8B
| $481M | 2.53% |
+5,976,041
| New | +$466M |
|
19
Televisa
TV
$1.47B
| $478M | 2.52% |
18,438,667
+4,905,570
| +36% | +$116M |
|
20
Ulta Beauty
ULTA
$22.4B
| $435M | 2.29% |
1,523,935
-273,703
| -15% | -$74.9M |
|
|
21
T-Mobile US
TMUS
$196B
| $386M | 2.03% |
+5,978,219
| New | +$367M |
|
|
RICE
22
DELISTED
Rice Energy Inc.
RICE
| $325M | 1.71% |
13,704,768
+9,969,733
| +267% | +$207M |
|
|
VISN
23
Vistance Networks Inc
VISN
$2.59B
| $310M | 1.63% |
7,427,085
+3,634,214
| +96% | +$140M |
|
|
SHPG
24
DELISTED
Shire pic
SHPG
| $299M | 1.57% |
1,714,306
-190,000
| -10% | -$33.2M |
|
25
Align Technology
ALGN
$11.5B
| $284M | 1.49% |
2,476,534
| – | – |
|
Similar funds
Stephen Mandel's Q1 2017 Portfolio in Review
As of Q1 2017, Stephen Mandel held 49 positions worth $19B, down 0.78% from $19.2B the previous quarter. Its ten largest holdings account for 55% of the portfolio.
Stephen Mandel withdrew a net $2.35B in Q1 2017, closing 14 positions and reducing 11 holdings. Its most notable exit was Amazon, an estimated $969M position sold in full.
By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 21% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Stephen Mandel opened a new position in CSX Corp worth $669M.
- Stephen Mandel's largest Q1 2017 buy was CSX Corp: 43,135,269 shares worth $669M.
- Stephen Mandel added most to Gen Digital in Q1 2017, an estimated $374M increase.
- Stephen Mandel's biggest Q1 2017 reduction was Expedia Group, cutting an estimated $268M.
- Stephen Mandel fully exited Amazon in Q1 2017, selling an estimated $969M.
- Stephen Mandel's ten largest holdings make up 55% of its $19B portfolio in Q1 2017.
- Stephen Mandel opened 8 new positions and closed 14 in Q1 2017.
- Stephen Mandel's portfolio value fell 0.78% quarter-over-quarter to $19B.
Based on Lone Pine Capital's 13F filing for Q1 2017, filed 15 May 2017.