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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
+7.92%
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
$19.7B
AUM Growth
+$661M
Cap. Flow
-$482M
Cap. Flow %
-2.45%
Top 10 Hldgs %
56.47%
Holding
45
New
11
Increased
11
Reduced
9
Closed
12

Top Buys

Rank Stock Value
1
ORLY icon
O'Reilly Automotive
ORLY
+$696M
2
MSFT icon
Microsoft
MSFT
+$665M
3
MA icon
Mastercard
MA
+$551M
4
ICE icon
Intercontinental Exchange
ICE
+$390M
5
TRU icon
TransUnion
TRU
+$369M

Top Sells

Rank Stock Value
1
NKE icon
Nike
NKE
+$1.07B
2
EA
Electronic Arts
EA
+$696M
3
V icon
Visa
V
+$548M
4
BKNG icon
Booking.com
BKNG
+$529M
5
DLTR icon
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
BABA icon
1
Alibaba
BABA
$286B
$1.64B 8.36%
11,666,798
+1,770,085
+18% +$219M
CHTR icon
2
Charter Communications
CHTR
$17.9B
$1.47B 7.45%
4,353,832
-1,316,402
-23% -$439M
STZ icon
3
Constellation Brands
STZ
$23.2B
$1.27B 6.48%
6,576,776
-684,941
-9% -$122M
ATVI
4
DELISTED
Activision Blizzard
ATVI
$1.24B 6.3%
21,535,165
-3,265,525
-13% -$180M
AVGO icon
5
Broadcom
AVGO
$1.75T
$1.24B 6.3%
53,195,910
– –
CPAY icon
6
Corpay
CPAY
$27.4B
$945M 4.81%
6,555,504
+2,053,731
+46% +$293M
META icon
7
Meta Platforms (Facebook)
META
$1.4T
$931M 4.73%
6,168,049
+1,061,741
+21% +$158M
IQV icon
8
IQVIA
IQV
$42.8B
$900M 4.57%
10,055,780
+4,079,739
+68% +$344M
CMCSA icon
9
Comcast
CMCSA
$95.3B
$795M 4.04%
20,438,394
+6,698,312
+49% +$264M
EXPE icon
10
Expedia Group
EXPE
$38.6B
$674M 3.43%
4,523,614
+2,401,713
+113% +$337M
MSFT icon
11
Microsoft
MSFT
$3.59T
$668M 3.39%
+9,687,742
New +$665M
ORLY icon
12
O'Reilly Automotive
ORLY
$72.1B
$621M 3.16%
+42,617,550
New +$696M
GEN icon
13
Gen Digital
GEN
$17.3B
$596M 3.03%
21,085,032
-5,365,985
-20% -$162M
MA icon
14
Mastercard
MA
$509B
$564M 2.87%
+4,641,369
New +$551M
CSX icon
15
CSX Corp
CSX
$95.6B
$563M 2.86%
30,944,604
-12,190,665
-28% -$209M
ADBE icon
16
Adobe
ADBE
$109B
$556M 2.83%
3,931,896
-882,700
-18% -$121M
EQIX icon
17
Equinix
EQIX
$105B
$547M 2.78%
1,273,652
-157,809
-11% -$66.9M
TV icon
18
Televisa
TV
$1.47B
$500M 2.54%
20,535,367
+2,096,700
+11% +$52.1M
TMUS icon
19
T-Mobile US
TMUS
$196B
$432M 2.2%
7,123,517
+1,145,298
+19% +$74.6M
ICE icon
20
Intercontinental Exchange
ICE
$90.5B
$419M 2.13%
+6,356,905
New +$390M
ULTA icon
21
Ulta Beauty
ULTA
$22.4B
$413M 2.1%
1,438,673
-85,262
-6% -$24.9M
TRU icon
22
TransUnion
TRU
$16.2B
$386M 1.96%
+8,905,062
New +$369M
NOW icon
23
ServiceNow
NOW
$133B
$341M 1.74%
+16,104,700
New +$316M
UNH icon
24
UnitedHealth
UNH
$350B
$316M 1.61%
+1,705,353
New +$299M
ANET icon
25
Arista Networks
ANET
$238B
$276M 1.41%
29,530,208
+9,243,232
+46% +$83.7M
1
2

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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.