We are live on ! Find out more
SM

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
+13.11%
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
$10.8B
AUM Growth
+$326M
Cap. Flow
-$669M
Cap. Flow %
-6.2%
Top 10 Hldgs %
58.99%
Holding
32
New
2
Increased
8
Reduced
14
Closed
3

Top Buys

Rank Stock Value
1
KKR icon
KKR & Co
KKR
+$352M
2
CRM icon
Salesforce
CRM
+$251M
3
BILL icon
BILL Holdings
BILL
+$169M
4
ASML icon
ASML
ASML
+$144M
5
EPAM icon
EPAM Systems
EPAM
+$117M

Top Sells

Rank Stock Value
1
TMO icon
Thermo Fisher Scientific
TMO
+$324M
2
AMZN icon
Amazon
AMZN
+$293M
3
MSFT icon
Microsoft
MSFT
+$208M
4
TSM icon
TSMC
TSM
+$198M
5
V icon
Visa
V
+$134M

Sector Composition

Rank Sector Weight
1 Technology 39.4%
2 Consumer Discretionary 31.04%
3 Financials 17.55%
4 Healthcare 6.07%
5 Industrials 4.77%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WDAY icon
1
Workday
WDAY
$49.4B
$881M 8.16%
4,266,760
-403,642
-9% -$73.4M
MSFT icon
2
Microsoft
MSFT
$3.59T
$772M 7.15%
2,679,232
-816,043
-23% -$208M
TSM icon
3
TSMC
TSM
$2.17T
$761M 7.05%
8,183,930
-2,207,470
-21% -$198M
BBWI icon
4
Bath & Body Works
BBWI
$3.92B
$716M 6.63%
19,565,935
-1,064,296
-5% -$44.6M
AMZN icon
5
Amazon
AMZN
$2.79T
$682M 6.32%
6,605,311
-3,037,286
-31% -$293M
DKS icon
6
Dick's Sporting Goods
DKS
$16.4B
$648M 6%
4,566,026
-449,128
-9% -$59.8M
BKNG icon
7
Booking.com
BKNG
$158B
$543M 5.02%
5,115,000
-394,375
-7% -$38.4M
TDG icon
8
TransDigm Group
TDG
$66.4B
$515M 4.77%
698,848
-76,842
-10% -$54.9M
RH icon
9
RH
RH
$2.9B
$432M 4%
1,773,069
– –
UNH icon
10
UnitedHealth
UNH
$350B
$421M 3.9%
891,167
-172,433
-16% -$83.2M
CRM icon
11
Salesforce
CRM
$171B
$407M 3.76%
2,035,296
+1,486,293
+271% +$251M
MA icon
12
Mastercard
MA
$509B
$381M 3.53%
1,049,009
-297,703
-22% -$108M
LPLA icon
13
LPL Financial
LPLA
$28.5B
$376M 3.48%
1,859,641
-147,681
-7% -$33.8M
KKR icon
14
KKR & Co
KKR
$97.4B
$345M 3.19%
+6,564,382
New +$352M
PTC icon
15
PTC
PTC
$16.8B
$344M 3.18%
2,681,447
– –
V icon
16
Visa
V
$693B
$334M 3.1%
1,482,970
-600,777
-29% -$134M
ASML icon
17
ASML
ASML
$677B
$314M 2.91%
461,133
+224,943
+95% +$144M
FND icon
18
Floor & Decor
FND
$5.78B
$297M 2.75%
3,024,737
+1,198,549
+66% +$108M
EPAM icon
19
EPAM Systems
EPAM
$5.69B
$289M 2.67%
965,588
+362,728
+60% +$117M
AMD icon
20
Advanced Micro Devices
AMD
$773B
$278M 2.57%
2,833,633
-1,076,635
-28% -$87.6M
IBN icon
21
ICICI Bank
IBN
$107B
$260M 2.41%
12,042,263
+349,611
+3% +$7.29M
MRNA icon
22
Moderna
MRNA
$57.9B
$235M 2.17%
1,529,618
+177,100
+13% +$29.2M
HDB icon
23
HDFC Bank
HDB
$121B
$199M 1.85%
5,981,098
+175,926
+3% +$5.88M
BILL icon
24
BILL Holdings
BILL
$4.76B
$148M 1.37%
+1,823,538
New +$169M
VAL icon
25
Valaris
VAL
$6.09B
$124M 1.15%
1,912,363
+1,259,043
+193% +$87.8M
1
2

Similar funds

PCM
Pentwater Capital Management Naples, Florida $16.4B AUM 55.44% 1-Year Est. Return
MFG
Merit Financial Group Alpharetta, Georgia $16.4B AUM 25.17% 1-Year Est. Return
X
Xponance Philadelphia, Pennsylvania $16.3B AUM 44.61% 1-Year Est. Return
CAM
Congress Asset Management Boston, Massachusetts $16.3B AUM 42.69% 1-Year Est. Return
PAM
PineStone Asset Management Montreal, Quebec, Canada $16.2B AUM 25.74% 1-Year Est. Return
NMO
Newlands Management Operations Dallas, Texas $16.6B AUM 3.91% 1-Year Est. Return
BS
Banco Santander Madrid, Spain $16.1B AUM 35.02% 1-Year Est. Return
BBVA
Banco Bilbao Vizcaya Argentaria Madrid, Spain $16.1B AUM 40.83% 1-Year Est. Return

Stephen Mandel's Q1 2023 Portfolio in Review

As of Q1 2023, Stephen Mandel held 32 positions worth $10.8B, up 3.1% from $10.5B the previous quarter. Its ten largest holdings account for 59% of the portfolio.

Stephen Mandel withdrew a net $669M in Q1 2023, closing 3 positions and reducing 14 holdings. Its most notable exit was Thermo Fisher Scientific, an estimated $324M position sold in full.

By sector, the portfolio is most concentrated in Technology at 39% of assets, up from 34% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Stephen Mandel opened a new position in KKR & Co worth $345M.

  • Stephen Mandel's largest Q1 2023 buy was KKR & Co: 6,564,382 shares worth $345M.
  • Stephen Mandel added most to Salesforce in Q1 2023, an estimated $251M increase.
  • Stephen Mandel's biggest Q1 2023 reduction was Amazon, cutting an estimated $293M.
  • Stephen Mandel fully exited Thermo Fisher Scientific in Q1 2023, selling an estimated $324M.
  • Stephen Mandel's ten largest holdings make up 59% of its $10.8B portfolio in Q1 2023.
  • Stephen Mandel opened 2 new positions and closed 3 in Q1 2023.
  • Stephen Mandel's portfolio value rose 3.1% quarter-over-quarter to $10.8B.

Based on Lone Pine Capital's 13F filing for Q1 2023, filed 15 May 2023.