Insight into Lone Pine Capital's Latest 13F Filings
Steve Mandel (Trades, Portfolio), the founder of Lone Pine Capital, a distinguished long/short equity money manager, has made significant changes to his investment portfolio in the second quarter of 2024. Before establishing Lone Pine Capital in 1997, Mandel honed his skills at Tiger Management (Trades, Portfolio) and Goldman Sachs. His investment approach combines rigorous fundamental analysis with a focus on both value and growth stocks, often resulting in a dynamic portfolio that adapts swiftly to market conditions.
Summary of New Buys
Steve Mandel (Trades, Portfolio)'s strategy this quarter included the addition of four new stocks to his portfolio. Noteworthy new positions include:
- UnitedHealth Group Inc (UNH, Financial) with 944,317 shares, making up 3.9% of the portfolio and valued at $480.9 million.
- Howmet Aerospace Inc (HWM, Financial) with 3,665,321 shares, representing 2.31% of the portfolio, valued at $284.54 million.
- GE Vernova Inc (GEV, Financial) with 1,477,008 shares, accounting for 2.05% of the portfolio, valued at $253.32 million.
Key Position Increases
Mandel also strategically increased his stakes in nine stocks, with significant boosts to:
- Mastercard Inc (MA, Financial), adding 363,133 shares for a total of 1,043,557 shares, marking a 53.37% increase in share count and impacting the portfolio by 1.3%, valued at $460.38 million.
- Constellation Energy Corp (CEG, Financial), adding 728,992 shares for a total of 1,604,953 shares, an 83.22% increase in share count, valued at $321.42 million.
Summary of Sold Out Positions
Significant exits this quarter included:
- Salesforce Inc (CRM, Financial), where Mandel sold all 2,400,267 shares, impacting the portfolio by -5.71%.
- Workday Inc (WDAY, Financial), with all 1,414,824 shares liquidated, causing a -3.05% impact on the portfolio.
Key Position Reductions
Reductions were also notable in Mandel's strategy, particularly:
- Meta Platforms Inc (META, Financial), reduced by 743,380 shares, a -34.77% decrease, impacting the portfolio by -2.85%. The stock traded at an average price of $486.09 during the quarter, with an 11.75% return over the past three months and 49.12% year-to-date.
- PTC Inc (PTC, Financial), reduced by 419,759 shares, a -14.14% decrease, impacting the portfolio by -0.63%. The stock traded at an average price of $179.01 during the quarter, with a -4.49% return over the past three months and -1.45% year-to-date.
Portfolio Overview
As of the second quarter of 2024, Steve Mandel (Trades, Portfolio)'s portfolio comprised 24 stocks. The top holdings included 8.46% in Taiwan Semiconductor Manufacturing Co Ltd (TSM, Financial), 7.32% in Microsoft Corp (MSFT, Financial), and 6.97% in Amazon.com Inc (AMZN, Financial). The portfolio shows a strong concentration in sectors such as Technology, Financial Services, and Consumer Cyclical.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
