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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
+16.19%
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
$31B
AUM Growth
+$3.5B
Cap. Flow
-$220M
Cap. Flow %
-0.71%
Top 10 Hldgs %
52.1%
Holding
47
New
9
Increased
10
Reduced
10
Closed
12

Top Buys

Rank Stock Value
1
MRNA icon
Moderna
MRNA
+$713M
2
BEKE icon
KE Holdings
BEKE
+$668M
3
RH icon
RH
RH
+$663M
4
TWTR
Twitter, Inc.
TWTR
+$607M
5
XYZ
Block Inc
XYZ
+$596M

Top Sells

Rank Stock Value
1
MELI icon
Mercado Libre
MELI
+$1.05B
2
NFLX icon
Netflix
NFLX
+$954M
3
MSFT icon
Microsoft
MSFT
+$648M
4
TEAM icon
Atlassian
TEAM
+$627M
5
BILI icon
Bilibili
BILI
+$450M

Sector Composition

Rank Sector Weight
1 Technology 36.29%
2 Consumer Discretionary 21.71%
3 Communication Services 16.84%
4 Healthcare 10.74%
5 Industrials 7.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SHOP icon
1
Shopify
SHOP
$192B
$2.39B 7.69%
16,325,500
-799,400
-5% -$98.5M
BBWI icon
2
Bath & Body Works
BBWI
$3.92B
$1.89B 6.1%
32,489,921
– –
META icon
3
Meta Platforms (Facebook)
META
$1.4T
$1.73B 5.59%
4,985,709
-676,650
-12% -$217M
AMZN icon
4
Amazon
AMZN
$2.79T
$1.67B 5.37%
9,694,820
+59,940
+0.6% +$9.96M
SNAP icon
5
Snap
SNAP
$8.86B
$1.56B 5.04%
22,942,282
-1,073,292
-4% -$64.4M
MSFT icon
6
Microsoft
MSFT
$3.59T
$1.43B 4.61%
5,275,472
-2,549,125
-33% -$648M
ADBE icon
7
Adobe
ADBE
$109B
$1.42B 4.56%
2,416,952
-205,454
-8% -$106M
XYZ
8
Block Inc
XYZ
$49.4B
$1.39B 4.49%
5,715,271
+2,570,126
+82% +$596M
NOW icon
9
ServiceNow
NOW
$133B
$1.36B 4.37%
12,343,990
+4,950,365
+67% +$502M
DASH icon
10
DoorDash
DASH
$96.8B
$1.33B 4.29%
7,460,157
+736,606
+11% +$108M
MTCH icon
11
Match Group
MTCH
$9.38B
$1.25B 4.03%
7,746,500
+1,541,815
+25% +$226M
COUP
12
DELISTED
Coupa Software Incorporated
COUP
$1.22B 3.94%
4,669,637
+517,724
+12% +$128M
UNH icon
13
UnitedHealth
UNH
$350B
$1.2B 3.88%
3,005,990
-140,584
-4% -$56.1M
GPN icon
14
Global Payments
GPN
$24.7B
$1.04B 3.35%
5,542,294
+1,296,998
+31% +$261M
FTCH
15
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
$950M 3.06%
18,866,886
+5,185,556
+38% +$246M
MRNA icon
16
Moderna
MRNA
$57.9B
$938M 3.02%
+3,990,897
New +$713M
WDAY icon
17
Workday
WDAY
$49.4B
$818M 2.64%
3,427,366
+1,273,903
+59% +$306M
DXCM icon
18
DexCom
DXCM
$34.8B
$798M 2.57%
7,473,148
-2,019,444
-21% -$194M
IBN icon
19
ICICI Bank
IBN
$107B
$738M 2.38%
43,155,826
– –
RH icon
20
RH
RH
$2.9B
$693M 2.23%
+1,020,825
New +$663M
TWTR
21
DELISTED
Twitter, Inc.
TWTR
$681M 2.2%
+9,902,947
New +$607M
MA icon
22
Mastercard
MA
$509B
$659M 2.12%
1,803,798
-227,935
-11% -$84.7M
CVNA icon
23
Carvana
CVNA
$76.9B
$647M 2.08%
10,711,545
-1,329,500
-11% -$72.3M
BEKE icon
24
KE Holdings
BEKE
$19.6B
$623M 2.01%
+13,069,217
New +$668M
DDOG icon
25
Datadog
DDOG
$84.6B
$607M 1.96%
5,831,385
-710,581
-11% -$64.2M
1
2

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Stephen Mandel's Q2 2021 Portfolio in Review

As of Q2 2021, Stephen Mandel held 47 positions worth $31B, up 13% from $27.5B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Stephen Mandel's Q2 2021 filing shows 9 new, 10 increased, 10 reduced and 12 closed positions. Its largest new stake was Moderna: 3,990,897 shares worth $938M. The largest sale was Mercado Libre, an estimated $1.05B.

By sector, the portfolio is most concentrated in Technology at 36% of assets, down from 39% a quarter earlier, followed by Consumer Discretionary and Communication Services.

  • Stephen Mandel's largest Q2 2021 buy was Moderna: 3,990,897 shares worth $938M.
  • Stephen Mandel added most to Block Inc in Q2 2021, an estimated $596M increase.
  • Stephen Mandel's biggest Q2 2021 reduction was Microsoft, cutting an estimated $648M.
  • Stephen Mandel fully exited Mercado Libre in Q2 2021, selling an estimated $1.05B.
  • Stephen Mandel's ten largest holdings make up 52% of its $31B portfolio in Q2 2021.
  • Stephen Mandel opened 9 new positions and closed 12 in Q2 2021.
  • Stephen Mandel's portfolio value rose 13% quarter-over-quarter to $31B.

Based on Lone Pine Capital's 13F filing for Q2 2021, filed 16 Aug 2021.