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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
+6.37%
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
$19.2B
AUM Growth
-$1.41B
Cap. Flow
-$2.27B
Cap. Flow %
-11.87%
Top 10 Hldgs %
49.76%
Holding
38
New
7
Increased
5
Reduced
17
Closed
7

Top Buys

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$847M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$608M
3
CSX icon
CSX Corp
CSX
+$605M
4
BLK icon
Blackrock
BLK
+$537M
5
BUD icon
AB InBev
BUD
+$534M

Top Sells

Rank Stock Value
1
CMCSA icon
Comcast
CMCSA
+$1.25B
2
AVGO icon
Broadcom
AVGO
+$683M
3
EXPE icon
Expedia Group
EXPE
+$670M
4
CHTR icon
Charter Communications
CHTR
+$657M
5
ICE icon
Intercontinental Exchange
ICE
+$601M

Sector Composition

Rank Sector Weight
1 Technology 24.75%
2 Consumer Discretionary 19.29%
3 Communication Services 16.31%
4 Financials 12.3%
5 Healthcare 10.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
STZ icon
1
Constellation Brands
STZ
$23.2B
$1.11B 5.81%
4,869,109
-2,206,973
-31% -$477M
BABA icon
2
Alibaba
BABA
$286B
$1.09B 5.71%
6,347,975
-2,467,034
-28% -$442M
ATVI
3
DELISTED
Activision Blizzard
ATVI
$1.08B 5.66%
17,134,499
-2,704,966
-14% -$171M
ADBE icon
4
Adobe
ADBE
$109B
$1.01B 5.3%
5,790,528
+1,858,632
+47% +$320M
IQV icon
5
IQVIA
IQV
$42.8B
$966M 5.04%
9,868,332
-187,448
-2% -$19.1M
BKNG icon
6
Booking.com
BKNG
$158B
$959M 5.01%
13,798,200
+3,612,975
+35% +$262M
AMZN icon
7
Amazon
AMZN
$2.79T
$900M 4.7%
+15,399,920
New +$847M
MSFT icon
8
Microsoft
MSFT
$3.59T
$820M 4.28%
9,584,771
-1,745,076
-15% -$143M
UNH icon
9
UnitedHealth
UNH
$350B
$803M 4.19%
3,641,563
-761,163
-17% -$161M
META icon
10
Meta Platforms (Facebook)
META
$1.4T
$777M 4.05%
4,400,447
-631,809
-13% -$112M
EA
11
DELISTED
Electronic Arts
EA
$768M 4.01%
7,308,184
+3,074,082
+73% +$342M
PYPL icon
12
PayPal
PYPL
$52.7B
$699M 3.65%
9,488,228
+2,774,998
+41% +$201M
AVGO icon
13
Broadcom
AVGO
$1.75T
$633M 3.3%
24,630,160
-26,273,440
-52% -$683M
CSX icon
14
CSX Corp
CSX
$95.6B
$626M 3.27%
+34,150,146
New +$605M
GOOG icon
15
Alphabet (Google) Class C
GOOG
$4.18T
$625M 3.26%
+11,950,060
New +$608M
BUD icon
16
AB InBev
BUD
$155B
$586M 3.06%
5,254,307
+4,538,756
+634% +$534M
TRU icon
17
TransUnion
TRU
$16.2B
$581M 3.03%
10,572,548
-1,773,209
-14% -$94.4M
CHTR icon
18
Charter Communications
CHTR
$17.9B
$580M 3.03%
1,727,722
-1,932,930
-53% -$657M
BLK icon
19
Blackrock
BLK
$179B
$567M 2.96%
+1,103,870
New +$537M
NOW icon
20
ServiceNow
NOW
$133B
$537M 2.8%
20,580,965
-5,777,140
-22% -$144M
MA icon
21
Mastercard
MA
$509B
$509M 2.66%
3,362,667
-1,124,702
-25% -$167M
EQIX icon
22
Equinix
EQIX
$105B
$509M 2.66%
1,122,529
-151,123
-12% -$69.9M
CRM icon
23
Salesforce
CRM
$171B
$497M 2.6%
4,864,570
-1,406,236
-22% -$143M
MELI icon
24
Mercado Libre
MELI
$97.5B
$484M 2.53%
1,537,485
-93,039
-6% -$25.2M
TDG icon
25
TransDigm Group
TDG
$66.4B
$387M 2.02%
+1,410,402
New +$383M
1
2

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Stephen Mandel's Q4 2017 Portfolio in Review

As of Q4 2017, Stephen Mandel held 38 positions worth $19.2B, down 6.9% from $20.6B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Stephen Mandel withdrew a net $2.27B in Q4 2017, closing 7 positions and reducing 17 holdings. Its most notable exit was Comcast, an estimated $1.25B position sold in full.

By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 26% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Stephen Mandel opened a new position in Amazon worth $900M.

  • Stephen Mandel's largest Q4 2017 buy was Amazon: 15,399,920 shares worth $900M.
  • Stephen Mandel added most to AB InBev in Q4 2017, an estimated $534M increase.
  • Stephen Mandel's biggest Q4 2017 reduction was Broadcom, cutting an estimated $683M.
  • Stephen Mandel fully exited Comcast in Q4 2017, selling an estimated $1.25B.
  • Stephen Mandel's ten largest holdings make up 50% of its $19.2B portfolio in Q4 2017.
  • Stephen Mandel opened 7 new positions and closed 7 in Q4 2017.
  • Stephen Mandel's portfolio value fell 6.9% quarter-over-quarter to $19.2B.

Based on Lone Pine Capital's 13F filing for Q4 2017, filed 14 Feb 2018.