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 | $10,372,457,703 |
Change This QTR | +0.95% |
No. | Security | Ticker | Shares | Value | Activity | % Port | History |
---|---|---|---|---|---|---|---|
1. | META | 2,779,103 | $834,314,512 | NEW | 8.04% | ||
2. | AMZN | 5,464,789 | $694,683,978 | +12% | 6.69% | ||
3. | MA | 1,746,342 | $691,394,261 | +49% | 6.66% | ||
4. | TSM | 7,800,152 | $677,833,209 | +22% | 6.53% | ||
5. | MSFT | 1,811,809 | $572,078,692 | -28% | 5.51% |
Symbol | Company | Filed By | Filing Date | Filing |
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2023-09-28 | ||||
2023-02-14 | ||||
2023-02-14 | ||||
2023-02-14 | ||||
2023-02-14 |