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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
+6.77%
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
$19.4B
AUM Growth
+$528M
Cap. Flow
-$432M
Cap. Flow %
-2.22%
Top 10 Hldgs %
59.89%
Holding
31
New
3
Increased
13
Reduced
8
Closed
6

Top Buys

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$591M
2
FDC
First Data Corporation
FDC
+$528M
3
UNP icon
Union Pacific
UNP
+$485M
4
WYNN icon
Wynn Resorts
WYNN
+$320M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$280M

Top Sells

Rank Stock Value
1
BKNG icon
Booking.com
BKNG
+$1.08B
2
DLTR icon
Dollar Tree
DLTR
+$615M
3
SBAC icon
SBA Communications
SBAC
+$579M
4
UNH icon
UnitedHealth
UNH
+$287M
5
CSX icon
CSX Corp
CSX
+$269M

Sector Composition

Rank Sector Weight
1 Technology 29.53%
2 Consumer Discretionary 19.24%
3 Industrials 16.68%
4 Communication Services 13.61%
5 Healthcare 9.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BABA icon
1
Alibaba
BABA
$286B
$1.6B 8.25%
9,732,169
+3,337,472
+52% +$591M
MSFT icon
2
Microsoft
MSFT
$3.59T
$1.57B 8.08%
13,737,471
+1,233,000
+10% +$134M
ADBE icon
3
Adobe
ADBE
$109B
$1.46B 7.53%
5,424,771
+968,409
+22% +$250M
ATVI
4
DELISTED
Activision Blizzard
ATVI
$1.34B 6.91%
16,138,688
+1,881,051
+13% +$143M
IQV icon
5
IQVIA
IQV
$42.8B
$1.09B 5.61%
8,403,439
-1,716,683
-17% -$206M
GOOG icon
6
Alphabet (Google) Class C
GOOG
$4.18T
$1.06B 5.47%
17,825,980
+4,669,920
+35% +$280M
EA
7
DELISTED
Electronic Arts
EA
$947M 4.87%
7,855,868
+1,538,448
+24% +$198M
STZ icon
8
Constellation Brands
STZ
$23.2B
$930M 4.78%
4,311,764
+433,928
+11% +$92.3M
CP icon
9
Canadian Pacific Kansas City
CP
$85B
$826M 4.25%
19,483,735
+5,175,845
+36% +$207M
UNH icon
10
UnitedHealth
UNH
$350B
$803M 4.13%
3,017,661
-1,103,754
-27% -$287M
WYNN icon
11
Wynn Resorts
WYNN
$10.3B
$757M 3.89%
5,955,497
+2,157,043
+57% +$320M
TRU icon
12
TransUnion
TRU
$16.2B
$722M 3.72%
9,819,201
-310,600
-3% -$23.1M
AMZN icon
13
Amazon
AMZN
$2.79T
$699M 3.59%
6,976,280
-1,517,800
-18% -$143M
CSX icon
14
CSX Corp
CSX
$95.6B
$698M 3.59%
28,291,425
-11,285,280
-29% -$269M
TDG icon
15
TransDigm Group
TDG
$66.4B
$656M 3.38%
1,763,113
+1,300
+0.1% +$468K
META icon
16
Meta Platforms (Facebook)
META
$1.4T
$635M 3.27%
3,863,203
+458,653
+13% +$83M
NVDA icon
17
NVIDIA
NVDA
$5.2T
$628M 3.23%
89,410,720
+4,020,000
+5% +$26.1M
NOW icon
18
ServiceNow
NOW
$133B
$619M 3.19%
15,833,185
+761,920
+5% +$28.8M
MELI icon
19
Mercado Libre
MELI
$97.5B
$608M 3.13%
1,785,259
-387,272
-18% -$131M
FDC
20
DELISTED
First Data Corporation
FDC
$536M 2.76%
+21,911,495
New +$528M
UNP icon
21
Union Pacific
UNP
$183B
$525M 2.7%
+3,224,826
New +$485M
PYPL icon
22
PayPal
PYPL
$52.7B
$524M 2.69%
5,962,509
-358,172
-6% -$31.5M
CPAY icon
23
Corpay
CPAY
$27.4B
$115M 0.59%
504,075
-508,921
-50% -$111M
SE icon
24
Sea Limited
SE
$72B
$54.8M 0.28%
3,963,222
– –
NIO icon
25
NIO
NIO
$11.6B
$18.1M 0.09%
+3,736,290
New +$30.8M
1
2

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Stephen Mandel's Q3 2018 Portfolio in Review

As of Q3 2018, Stephen Mandel held 31 positions worth $19.4B, up 2.8% from $18.9B the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Stephen Mandel's Q3 2018 filing shows 3 new, 13 increased, 8 reduced and 6 closed positions. Its largest new stake was First Data Corporation: 21,911,495 shares worth $536M. The largest sale was Booking.com, an estimated $1.08B.

By sector, the portfolio is most concentrated in Technology at 30% of assets, up from 26% a quarter earlier, followed by Consumer Discretionary and Industrials.

  • Stephen Mandel's largest Q3 2018 buy was First Data Corporation: 21,911,495 shares worth $536M.
  • Stephen Mandel added most to Alibaba in Q3 2018, an estimated $591M increase.
  • Stephen Mandel's biggest Q3 2018 reduction was UnitedHealth, cutting an estimated $287M.
  • Stephen Mandel fully exited Booking.com in Q3 2018, selling an estimated $1.08B.
  • Stephen Mandel's ten largest holdings make up 60% of its $19.4B portfolio in Q3 2018.
  • Stephen Mandel opened 3 new positions and closed 6 in Q3 2018.
  • Stephen Mandel's portfolio value rose 2.8% quarter-over-quarter to $19.4B.

Based on Lone Pine Capital's 13F filing for Q3 2018, filed 14 Nov 2018.