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 | $10,613,116,000 |
Change This QTR | +1.00% |
No. | Security | Ticker | Shares | Value (x$1000) | Activity | % Port | History |
---|---|---|---|---|---|---|---|
1. | WDAY | 5,019,190 | $764,021 | 7.19% | |||
2. | AMZN | 6,686,898 | $755,619 | -26% | 7.11% | ||
3. | PYPL | 8,294,340 | $713,894 | +94% | 6.72% | ||
4. | Bath & Body Works Inc | 20,630,231 | $672,546 | -8% | 6.33% | ||
5. | MSFT | 2,832,272 | $659,636 | -19% | 6.21% |
Symbol | Company | Filed By | Filing Date | Filing |
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2022-06-27 | ||||
2022-02-14 | ||||
2022-02-14 | ||||
2022-02-14 | ||||
2022-02-14 |