Steve Mandel has $17 Billion assets under management. His personal wealth is about one tenth of that. Mandel is a Tiger cub, leaving Robertson in 1997 to launch Lone Pine. He's a "bottom-up" investor with great stock picking skills. He returned about 23% during the past 11 years, beating the S&P 500 index by more than 20 percentage points per year. Mandel's market beta seems quite high though. According to a Valley News article, Mandel didn't offer much downside protection in 2008:
Steve Mandel has $17 Billion assets under management. His personal wealth is about one tenth of that. Mandel is a Tiger cub, leaving Robertson in 1997 to launch Lone Pine. He's a "bottom-up" investor with great stock picking skills. He returned about 23% during the past 11 years, beating the S&P 500 index by more than 20 percentage points per year. Mandel's market beta seems quite high though. According to a Valley News article, Mandel didn't offer much downside protection in 2008:
The value of Dartmouth's stakes in four Lone Pine funds plummeted during the disastrous 2008-09 fiscal year, according to information reviewed by the Valley News. The biggest holding, in Lone Sierra, fell 25.8 percent, to $55 million, while Lone Dragon Pine fell 28.5 percent, to $6.5 million. The value of its Lone Pinon holding was down 18.2 percent, to $17.8 million, while its Lone Cedar stake fell 19.8 percent, to $30.9 million. During that same 12-month period, the S&P 500 index of stock prices fell 28.2 percent.
| Fund Name: | Lone Pine Capital |
| Manager | Stephen Mandel |
| Portfolio Value | $13,948,306,000 |
| Change This QTR | +1.14% |
| No. | Security | Ticker | Shares | Value (x$1000) | Activity | % Port |
|---|---|---|---|---|---|---|
| 1.) | AAPL | 2,150,527 | $870,963 | +4% |
6.24% | |
| 2.) | GOOG | 1,347,297 | $870,219 | +44% |
6.23% | |
| 3.) | PCLN | 1,466,623 | $685,954 | +127% |
4.91% | |
| 4.) | RL | 4,679,814 | $646,189 | +11% |
4.63% | |
| 5.) | DG | 15,341,132 | $631,134 | -3% |
4.52% | |
| 6.) | ESRX | 13,778,810 | $615,775 | +2% |
4.41% | |
| 7.) | GLD | 3,750,348 | $570,015 |  |
4.08% | |
| 8.) | V | 4,797,078 | $487,047 | +111% |
3.49% | |
| 9.) | CCI | 10,584,118 | $474,168 | -13% |
3.39% | |
| 10.) | CTSH | 6,613,493 | $425,314 | -38% |
3.04% | |
| 11.) | LVS | 9,697,250 | $414,363 | +32% |
2.97% | |
| 12.) | MON | 5,925,885 | $415,227 | +14% |
2.97% | |
| 13.) | NTAP | 9,999,193 | $362,671 | +5% |
2.6% | |
| 14.) | OII | 7,839,018 | $361,614 | +30% |
2.59% | |
| 15.) | QCOM | 6,327,518 | $346,115 | -12% |
2.48% | |
| 16.) | TDC | 6,931,662 | $336,255 | +98% |
2.41% | |
| 17.) | NTES | 7,463,540 | $334,740 | +17% |
2.39% | |
| 18.) | FTI | 6,238,283 | $325,826 | |
2.33% | |
| 19.) | WYN | 8,259,034 | $312,439 | +8% |
2.23% | |
| 20.) | TDG | 3,119,601 | $298,483 | +1% |
2.13% |
