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 | $11,558,848,096 |
Change This QTR | +1.11% |
No. | Security | Ticker | Shares | Value | Activity | % Port | History |
---|---|---|---|---|---|---|---|
1. | META | 2,873,728 | $1,017,184,763 | +4% | 8.8% | ||
2. | AMZN | 5,464,789 | $830,320,041 | 7.18% | |||
3. | TSM | 6,947,924 | $722,584,096 | -11% | 6.25% | ||
4. | MSFT | 1,811,809 | $681,312,656 | 5.89% | |||
5. | CRM | 2,499,630 | $657,752,638 | 5.69% |
Symbol | Company | Filed By | Filing Date | Filing |
---|---|---|---|---|
2024-02-22 | ||||
2024-02-14 | ||||
2024-02-14 | ||||
2024-02-14 | ||||
2023-09-28 |