Stephen Mandel Lone Pine Capital
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
DoorDash
DASH
|
+$748M |
| 2 |
Amazon
AMZN
|
+$712M |
| 3 |
ICICI Bank
IBN
|
+$705M |
| 4 |
Meta Platforms (Facebook)
META
|
+$562M |
| 5 |
Workday
WDAY
|
+$532M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DOCU
DocuSign
DOCU
|
+$902M |
| 2 |
Autodesk
ADSK
|
+$676M |
| 3 |
Humana
HUM
|
+$619M |
| 4 |
Global Payments
GPN
|
+$415M |
| 5 |
Fidelity National Information Services
FIS
|
+$396M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 39.06% |
| 2 | Consumer Discretionary | 20.64% |
| 3 | Communication Services | 18.81% |
| 4 | Healthcare | 10.6% |
| 5 | Industrials | 5.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Shopify
SHOP
$192B
| $1.89B | 6.88% |
17,124,900
-828,000
| -5% | -$100M |
|
2
Microsoft
MSFT
$3.59T
| $1.84B | 6.7% |
7,824,597
+1,512,102
| +24% | +$351M |
|
|
3
Meta Platforms (Facebook)
META
$1.4T
| $1.67B | 6.06% |
5,662,359
+2,086,813
| +58% | +$562M |
|
4
Bath & Body Works
BBWI
$3.92B
| $1.62B | 5.9% |
32,489,921
| – | – |
|
|
5
Amazon
AMZN
$2.79T
| $1.49B | 5.41% |
9,634,880
+4,492,360
| +87% | +$712M |
|
6
Snap
SNAP
$8.86B
| $1.26B | 4.56% |
24,015,574
+4,504,987
| +23% | +$259M |
|
7
Adobe
ADBE
$109B
| $1.25B | 4.53% |
2,622,406
+601,668
| +30% | +$281M |
|
8
UnitedHealth
UNH
$350B
| $1.17B | 4.25% |
3,146,574
-33,446
| -1% | -$11.6M |
|
|
COUP
9
DELISTED
Coupa Software Incorporated
COUP
| $1.06B | 3.84% |
4,151,913
-68,793
| -2% | -$21.7M |
|
10
Mercado Libre
MELI
$97.5B
| $1.05B | 3.82% |
715,152
+118,041
| +20% | +$200M |
|
11
Netflix
NFLX
$331B
| $954M | 3.46% |
18,281,200
-6,240,000
| -25% | -$331M |
|
|
12
DoorDash
DASH
$96.8B
| $882M | 3.2% |
6,723,551
+4,466,620
| +198% | +$748M |
|
|
13
Global Payments
GPN
$24.7B
| $856M | 3.11% |
4,245,296
-2,085,724
| -33% | -$415M |
|
14
DexCom
DXCM
$34.8B
| $853M | 3.1% |
9,492,592
+421,356
| +5% | +$39.6M |
|
15
Match Group
MTCH
$9.38B
| $852M | 3.1% |
6,204,685
+937,602
| +18% | +$141M |
|
16
ServiceNow
NOW
$133B
| $740M | 2.69% |
7,393,625
+1,340,695
| +22% | +$142M |
|
|
FTCH
17
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
| $725M | 2.63% |
13,681,330
+5,616,770
| +70% | +$344M |
|
18
Mastercard
MA
$509B
| $723M | 2.63% |
2,031,733
-687,664
| -25% | -$240M |
|
|
XYZ
19
Block Inc
XYZ
$49.4B
| $714M | 2.59% |
3,145,145
-1,054,279
| -25% | -$247M |
|
|
20
ICICI Bank
IBN
$107B
| $692M | 2.51% |
+43,155,826
| New | +$705M |
|
21
Carvana
CVNA
$76.9B
| $632M | 2.3% |
12,041,045
-200,280
| -2% | -$11M |
|
22
Atlassian
TEAM
$43.5B
| $627M | 2.28% |
2,974,571
-448,548
| -13% | -$104M |
|
23
Datadog
DDOG
$84.6B
| $545M | 1.98% |
6,541,966
-548,135
| -8% | -$52.8M |
|
|
24
Workday
WDAY
$49.4B
| $535M | 1.94% |
+2,153,463
| New | +$532M |
|
25
Bilibili
BILI
$7.14B
| $450M | 1.63% |
4,200,332
-1,803,795
| -30% | -$220M |
|
Similar funds
Stephen Mandel's Q1 2021 Portfolio in Review
As of Q1 2021, Stephen Mandel held 45 positions worth $27.5B, up 0.07% from $27.5B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Stephen Mandel's Q1 2021 filing shows 4 new, 17 increased, 12 reduced and 7 closed positions. Its largest new stake was ICICI Bank: 43,155,826 shares worth $692M. The largest sale was DocuSign, an estimated $902M.
By sector, the portfolio is most concentrated in Technology at 39% of assets, down from 46% a quarter earlier, followed by Consumer Discretionary and Communication Services.
- Stephen Mandel's largest Q1 2021 buy was ICICI Bank: 43,155,826 shares worth $692M.
- Stephen Mandel added most to DoorDash in Q1 2021, an estimated $748M increase.
- Stephen Mandel's biggest Q1 2021 reduction was Global Payments, cutting an estimated $415M.
- Stephen Mandel fully exited DocuSign in Q1 2021, selling an estimated $902M.
- Stephen Mandel's ten largest holdings make up 52% of its $27.5B portfolio in Q1 2021.
- Stephen Mandel opened 4 new positions and closed 7 in Q1 2021.
- Stephen Mandel's portfolio value rose 0.07% quarter-over-quarter to $27.5B.
Based on Lone Pine Capital's 13F filing for Q1 2021, filed 18 May 2021.