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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
+7.92%
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
$19.7B
AUM Growth
+$661M
(+3.5%)
Cap. Flow
-$482M
Cap. Flow % of AUM
Cap. Flow %
-2.45%
Top 10 Holdings %
Top 10 Hldgs %
56.47%
Holding
45
New
11
Increased
11
Reduced
9
Closed
12
Avg Time Held
1
year
Top 10 Avg Time Held
0.5
years
Top 20 Avg Time Held
0.9
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
O'Reilly Automotive
ORLY
|
+$696M |
| 2 |
Microsoft
MSFT
|
+$665M |
| 3 |
Mastercard
MA
|
+$551M |
| 4 |
Intercontinental Exchange
ICE
|
+$390M |
| 5 |
TransUnion
TRU
|
+$369M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nike
NKE
|
+$1.07B |
| 2 |
Electronic Arts
EA
|
+$696M |
| 3 |
Visa
V
|
+$548M |
| 4 |
Booking.com
BKNG
|
+$529M |
| 5 |
Dollar Tree
DLTR
|
+$513M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 30.96% |
| 2 | Communication Services | 23.56% |
| 3 | Consumer Discretionary | 18.26% |
| 4 | Financials | 6.96% |
| 5 | Consumer Staples | 6.48% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Alibaba
BABA
$248B
| $1.64B | 8.36% |
11,666,798
+1,770,085
| +18% | +$219M |
2016 Q3
3 quarters
|
|
2
Charter Communications
CHTR
$12.4B
| $1.47B | 7.45% |
4,353,832
-1,316,402
| -23% | -$439M |
2014 Q3
11 quarters
|
|
3
Constellation Brands
STZ
$23.5B
| $1.27B | 6.48% |
6,576,776
-684,941
| -9% | -$122M |
2015 Q3
7 quarters
|
|
|
ATVI
4
DELISTED
Activision Blizzard
ATVI
| $1.24B | 6.3% |
21,535,165
-3,265,525
| -13% | -$180M |
2016 Q2
4 quarters
|
|
5
Broadcom
AVGO
$1.54T
| $1.24B | 6.3% |
53,195,910
| – | – |
2016 Q3
3 quarters
|
|
6
Corpay
CPAY
$26.8B
| $945M | 4.81% |
6,555,504
+2,053,731
| +46% | +$293M |
2013 Q2
16 quarters
|
|
7
Meta Platforms (Facebook)
META
$1.64T
| $931M | 4.73% |
6,168,049
+1,061,741
| +21% | +$158M |
2014 Q3
11 quarters
|
|
8
IQVIA
IQV
$46B
| $900M | 4.57% |
10,055,780
+4,079,739
| +68% | +$344M |
2017 Q1
1 quarter
|
|
9
Comcast
CMCSA
$80.5B
| $795M | 4.04% |
20,438,394
+6,698,312
| +49% | +$264M |
2017 Q1
1 quarter
|
|
10
Expedia Group
EXPE
$34.7B
| $674M | 3.43% |
4,523,614
+2,401,713
| +113% | +$337M |
2016 Q3
3 quarters
|
|
|
11
Microsoft
MSFT
$3.89T
| $668M | 3.39% |
+9,687,742
| New | +$665M |
2017 Q2
0 quarters
|
|
|
12
O'Reilly Automotive
ORLY
$72.7B
| $621M | 3.16% |
+42,617,550
| New | +$696M |
2017 Q2
0 quarters
|
|
13
Gen Digital
GEN
$14.9B
| $596M | 3.03% |
21,085,032
-5,365,985
| -20% | -$162M |
2016 Q4
2 quarters
|
|
|
14
Mastercard
MA
$546B
| $564M | 2.87% |
+4,641,369
| New | +$551M |
2017 Q2
0 quarters
|
|
15
CSX Corp
CSX
$94.1B
| $563M | 2.86% |
30,944,604
-12,190,665
| -28% | -$209M |
2017 Q1
1 quarter
|
|
16
Adobe
ADBE
$103B
| $556M | 2.83% |
3,931,896
-882,700
| -18% | -$121M |
2014 Q1
13 quarters
|
|
17
Equinix
EQIX
$94.2B
| $547M | 2.78% |
1,273,652
-157,809
| -11% | -$66.9M |
2014 Q1
13 quarters
|
|
18
Televisa
TV
$1.24B
| $500M | 2.54% |
20,535,367
+2,096,700
| +11% | +$52.1M |
2016 Q3
3 quarters
|
|
19
T-Mobile US
TMUS
$157B
| $432M | 2.2% |
7,123,517
+1,145,298
| +19% | +$74.6M |
2017 Q1
1 quarter
|
|
|
20
Intercontinental Exchange
ICE
$91.4B
| $419M | 2.13% |
+6,356,905
| New | +$390M |
2017 Q2
0 quarters
|
|
21
Ulta Beauty
ULTA
$26.7B
| $413M | 2.1% |
1,438,673
-85,262
| -6% | -$24.9M |
2013 Q2
16 quarters
|
|
|
22
TransUnion
TRU
$15.6B
| $386M | 1.96% |
+8,905,062
| New | +$369M |
2017 Q2
0 quarters
|
|
23
ServiceNow
NOW
$164B
| $341M | 1.74% |
+16,104,700
| New | +$316M |
2017 Q2
0 quarters
|
|
24
UnitedHealth
UNH
$375B
| $316M | 1.61% |
+1,705,353
| New | +$299M |
2017 Q2
0 quarters
|
|
25
Arista Networks
ANET
$217B
| $276M | 1.41% |
29,530,208
+9,243,232
| +46% | +$83.7M |
2017 Q1
1 quarter
|
|
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Stephen Mandel's Q2 2017 Portfolio in Review
As of Q2 2017, Stephen Mandel held 45 positions worth $19.7B, up 3.5% from $19B the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Stephen Mandel's Q2 2017 filing shows 11 new, 11 increased, 9 reduced and 12 closed positions. Its largest new stake was O'Reilly Automotive: 42,617,550 shares worth $621M. The largest sale was Nike, an estimated $1.07B.
By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 26% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Stephen Mandel's largest Q2 2017 buy was O'Reilly Automotive: 42,617,550 shares worth $621M.
- Stephen Mandel added most to IQVIA in Q2 2017, an estimated $344M increase.
- Stephen Mandel's biggest Q2 2017 reduction was Charter Communications, cutting an estimated $439M.
- Stephen Mandel fully exited Nike in Q2 2017, selling an estimated $1.07B.
- Stephen Mandel's ten largest holdings make up 56% of its $19.7B portfolio in Q2 2017.
- Stephen Mandel opened 11 new positions and closed 12 in Q2 2017.
- Stephen Mandel's portfolio value rose 3.5% quarter-over-quarter to $19.7B.
Based on Lone Pine Capital's 13F filing for Q2 2017, filed 14 Aug 2017.