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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
+7.33%
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
$20.6B
AUM Growth
+$892M
Cap. Flow
-$334M
Cap. Flow %
-1.62%
Top 10 Hldgs %
56.19%
Holding
41
New
8
Increased
11
Reduced
8
Closed
10

Top Buys

Rank Stock Value
1
BKNG icon
Booking.com
BKNG
+$773M
2
UNH icon
UnitedHealth
UNH
+$521M
3
EA
Electronic Arts
EA
+$490M
4
CMCSA icon
Comcast
CMCSA
+$479M
5
MELI icon
Mercado Libre
MELI
+$432M

Top Sells

Rank Stock Value
1
CPAY icon
Corpay
CPAY
+$845M
2
ORLY icon
O'Reilly Automotive
ORLY
+$621M
3
GEN icon
Gen Digital
GEN
+$596M
4
CSX icon
CSX Corp
CSX
+$563M
5
BABA icon
Alibaba
BABA
+$462M

Sector Composition

Rank Sector Weight
1 Technology 26.43%
2 Communication Services 23.05%
3 Consumer Discretionary 19.42%
4 Financials 10.93%
5 Healthcare 8.84%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BABA icon
1
Alibaba
BABA
$286B
$1.52B 7.4%
8,815,009
-2,851,789
-24% -$462M
STZ icon
2
Constellation Brands
STZ
$23.2B
$1.41B 6.86%
7,076,082
+499,306
+8% +$98.8M
CHTR icon
3
Charter Communications
CHTR
$17.9B
$1.33B 6.47%
3,660,652
-693,180
-16% -$258M
ATVI
4
DELISTED
Activision Blizzard
ATVI
$1.28B 6.22%
19,839,465
-1,695,700
-8% -$106M
CMCSA icon
5
Comcast
CMCSA
$95.3B
$1.25B 6.1%
32,595,590
+12,157,196
+59% +$479M
AVGO icon
6
Broadcom
AVGO
$1.75T
$1.23B 6%
50,903,600
-2,292,310
-4% -$56.7M
IQV icon
7
IQVIA
IQV
$42.8B
$956M 4.65%
10,055,780
– –
UNH icon
8
UnitedHealth
UNH
$350B
$862M 4.19%
4,402,726
+2,697,373
+158% +$521M
META icon
9
Meta Platforms (Facebook)
META
$1.4T
$860M 4.18%
5,032,256
-1,135,793
-18% -$190M
MSFT icon
10
Microsoft
MSFT
$3.59T
$844M 4.1%
11,329,847
+1,642,105
+17% +$120M
BKNG icon
11
Booking.com
BKNG
$158B
$746M 3.63%
+10,185,225
New +$773M
EXPE icon
12
Expedia Group
EXPE
$38.6B
$670M 3.26%
4,656,018
+132,404
+3% +$19.6M
MA icon
13
Mastercard
MA
$509B
$634M 3.08%
4,487,369
-154,000
-3% -$20.4M
NOW icon
14
ServiceNow
NOW
$133B
$620M 3.01%
26,358,105
+10,253,405
+64% +$228M
ICE icon
15
Intercontinental Exchange
ICE
$90.5B
$601M 2.92%
8,749,665
+2,392,760
+38% +$158M
ADBE icon
16
Adobe
ADBE
$109B
$587M 2.85%
3,931,896
– –
CRM icon
17
Salesforce
CRM
$171B
$586M 2.85%
6,270,806
+3,622,378
+137% +$333M
TRU icon
18
TransUnion
TRU
$16.2B
$583M 2.84%
12,345,757
+3,440,695
+39% +$157M
EQIX icon
19
Equinix
EQIX
$105B
$568M 2.76%
1,273,652
– –
TV icon
20
Televisa
TV
$1.47B
$514M 2.5%
20,843,467
+308,100
+2% +$7.92M
EA
21
DELISTED
Electronic Arts
EA
$500M 2.43%
+4,234,102
New +$490M
PYPL icon
22
PayPal
PYPL
$52.7B
$430M 2.09%
+6,713,230
New +$402M
MELI icon
23
Mercado Libre
MELI
$97.5B
$422M 2.05%
+1,630,524
New +$432M
WYNN icon
24
Wynn Resorts
WYNN
$10.3B
$399M 1.94%
+2,680,127
New +$365M
TMUS icon
25
T-Mobile US
TMUS
$196B
$281M 1.37%
4,561,573
-2,561,944
-36% -$161M
1
2

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Stephen Mandel's Q3 2017 Portfolio in Review

As of Q3 2017, Stephen Mandel held 41 positions worth $20.6B, up 4.5% from $19.7B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Stephen Mandel's Q3 2017 filing shows 8 new, 11 increased, 8 reduced and 10 closed positions. Its largest new stake was Booking.com: 10,185,225 shares worth $746M. The largest sale was Corpay, an estimated $845M.

By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 31% a quarter earlier, followed by Communication Services and Consumer Discretionary.

  • Stephen Mandel's largest Q3 2017 buy was Booking.com: 10,185,225 shares worth $746M.
  • Stephen Mandel added most to UnitedHealth in Q3 2017, an estimated $521M increase.
  • Stephen Mandel's biggest Q3 2017 reduction was Corpay, cutting an estimated $845M.
  • Stephen Mandel fully exited O'Reilly Automotive in Q3 2017, selling an estimated $621M.
  • Stephen Mandel's ten largest holdings make up 56% of its $20.6B portfolio in Q3 2017.
  • Stephen Mandel opened 8 new positions and closed 10 in Q3 2017.
  • Stephen Mandel's portfolio value rose 4.5% quarter-over-quarter to $20.6B.

Based on Lone Pine Capital's 13F filing for Q3 2017, filed 14 Nov 2017.