Hedge fund manager Steve Mandel of Lone Pine Capital reported its Q1 portfolio. As of 03/31/2011, Lone Pine Capital owns 60 stocks with a total value of $12.6 billion. These are the details of the buys and sells.
Lone Pine Capital is a long/short equity hedge fund headquartered in Greenwich, Connecticut. Lone Pine Capital’s managing director is Stephen Mandel who earned his AB from Dartmouth College in 1978, and his MBA from Harvard Business School in 1982. With his education credentials in hand, Stephen Mandel would go on to serve as an analyst and consultant at several major firms, from Tiger Management to Goldman Sachs. Learning and networking from his tenure at these big firms, he launched Lone Pine Capital in 1997. In 2010, Mandel was named the 655th richest billionaire in the world. Mandel currently sits on the board of Dartmouth College, and serves as a director for Teach for America.
Stephen Mandel, like several other money managers, is often referred to as a “tiger-cub”. This originated from his tenure with renowned investor, Julian Robertson at Tiger Management Corporation. Julian Robertson is credited as one of the earliest founders of hedge funds. From his initial startup of $8 million, he made over $22 billion upon that capital by utilizing talented men and women as analysts from around the country. Many these analysts, who are now so eloquently referred to as “tiger-cubs”, would go on to launch their own hedge funds, When Julian Robertson shut down Tiger Management in 2000, he decided to further develop, mentor, and fund several of those that he felt were his brightest analysts. These analysts would then be known as “tiger-seeds”, and like their predecessors, would launch their own funds.
As a whole however, the successes of these funds cannot be described as consistent. The cubs are generally more successful then the seeds, perhaps due to their direct exposure and tutorage under Robertson. Several of the seeds posted losses in their first year, while others are under investigation for securities misconduct. It has been reasoned that these unspectacular results lie in the long-short equity strategy that Robertson utilized. The long-short equity strategy invests primarily in stocks, and as such, is more exposed to global macro events. Though fundamentals are pivotal to value investing, these funds experience greater movement in their positions due to the cyclical nature of the market. In addition, these new seeds are receiving less and less mentorage from Robertson, and as such, are not of the same veteran caliber as the cubs were when they launched their own funds.
Nonetheless, as a portfolio manager, Stephen Mandel boasts of beating the benchmark S&P 500 by 20% each year for the last 11 years. His success can be attributed to his methodology of “bottom-up” investing. At its very core, bottom-up investing deemphasizes the important of macroeconomic events and indicators, but rather, focuses on the fundamentals of the company. That being said, a through analysis of a company must be performed to understand its practices, operations, and future growth in order to render the final decision whether to long or short. Unlike most managers however, Stephen Mandel moves relatively quickly in and out of positions.
This is the portfolio chart of Steve Mandel. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Steve Mandel
Added: Qualcomm Inc. (QCOM, Financial)
Steve Mandel added to his holdings in Qualcomm Inc. by 149.75%. His purchase prices were between $49.49 and $59.58, with an estimated average price of $54.32. The impact to his portfolio due to this purchase was 1.65%. His holdings were 6,303,063 shares as of 03/31/2011.
QUALCOMM Inc. develops and delivers innovative digital wireless communications products and services based on the company's CDMA digital technology. Qualcomm Inc. has a market cap of $94.32 billion; its shares were traded at around $57.38 with a P/E ratio of 23 and P/S ratio of 8.5. The dividend yield of Qualcomm Inc. stocks is 1.3%. Qualcomm Inc. had an annual average earnings growth of 14.6% over the past 10 years. GuruFocus rated Qualcomm Inc. the business predictability rank of 3-star.
Added: Netapp Inc. (NTAP, Financial)
Steve Mandel added to his holdings in Netapp Inc. by 90.49%. His purchase prices were between $46.38 and $60.6, with an estimated average price of $53.85. The impact to his portfolio due to this purchase was 1.6%. His holdings were 8,794,747 shares as of 03/31/2011.
NetApp Inc., formerly Network Appliance, Inc., is a provider of innovative data management solutions that simplify the complexity of storing, managing, protecting, and retaining enterprise data. Netapp Inc. has a market cap of $19.75 billion; its shares were traded at around $53.7 with a P/E ratio of 32.7 and P/S ratio of 5. Netapp Inc. had an annual average earnings growth of 13% over the past 10 years.
Added: Crown Castle Intl. Corp. (CCI, Financial)
Steve Mandel added to his holdings in Crown Castle Intl. Corp. by 61.94%. His purchase prices were between $37.37 and $46.17, with an estimated average price of $42.02. The impact to his portfolio due to this purchase was 1.56%. His holdings were 12,086,465 shares as of 03/31/2011.
Crown Castle International is a owner and operator of towers and transmission networks for wireless communications and broadcast transmission companies. Crown Castle Intl. Corp. has a market cap of $12.04 billion; its shares were traded at around $41.38 with a P/E ratio of 2069 and P/S ratio of 6.4. Crown Castle Intl. Corp. had an annual average earnings growth of 11.7% over the past 10 years.
Added: International Flavors (IFF)
Steve Mandel added to his holdings in International Flavors by 1254.61%. His purchase prices were between $54.8 and $62.16, with an estimated average price of $57.5. The impact to his portfolio due to this purchase was 1.26%. His holdings were 2,742,507 shares as of 03/31/2011.
International Flavors & Fragrances Inc. is a creator and manufacturer of flavor and fragrance products used by other manufacturers to impart or improve flavor or fragrance in a wide variety of consumer products. International Flavors has a market cap of $5.08 billion; its shares were traded at around $63.33 with a P/E ratio of 17.8 and P/S ratio of 1.9. The dividend yield of International Flavors stocks is 1.7%. International Flavors had an annual average earnings growth of 5% over the past 10 years. GuruFocus rated International Flavors the business predictability rank of 4-star.
Added: Ctrip.com International Ltd. (CTRP)
Steve Mandel added to his holdings in Ctrip.com International Ltd. by 83.06%. His purchase prices were between $37.01 and $46.1, with an estimated average price of $40.8. The impact to his portfolio due to this purchase was 1.18%. His holdings were 7,894,563 shares as of 03/31/2011.
Ctrip.com International, Ltd. is a travel service provider of hotel accommodations, airline tickets and packaged-tours in China. Ctrip.com International Ltd. has a market cap of $6.62 billion; its shares were traded at around $44.8 with a P/E ratio of 43.5 and P/S ratio of 15.2. Ctrip.com International Ltd. had an annual average earnings growth of 64.2% over the past 10 years.
Added: O Reilly Automotive Inc. (ORLY)
Steve Mandel added to his holdings in O Reilly Automotive Inc. by 85.61%. His purchase prices were between $54.58 and $60.69, with an estimated average price of $56.76. The impact to his portfolio due to this purchase was 1.17%. His holdings were 5,563,396 shares as of 03/31/2011.
O'Reilly Automotive, Inc. is a specialty retailer and supplier of automotive aftermarket parts, tools, supplies, equipment and accessories to both ``do-it-yourself`` customers and professional mechanics or service technicians. O Reilly Automotive Inc. has a market cap of $8.15 billion; its shares were traded at around $57.89 with a P/E ratio of 18.2 and P/S ratio of 1.6. O Reilly Automotive Inc. had an annual average earnings growth of 16.7% over the past 10 years. GuruFocus rated O Reilly Automotive Inc. the business predictability rank of 5-star.
Added: Express Scripts Inc. (ESRX)
Steve Mandel added to his holdings in Express Scripts Inc. by 25.63%. His purchase prices were between $51.8 and $58.74, with an estimated average price of $55.84. The impact to his portfolio due to this purchase was 0.88%. His holdings were 9,742,901 shares as of 03/31/2011.
Express Scripts, Inc. is one of the largest pharmacy benefit management companies in North America. Express Scripts Inc. has a market cap of $31.74 billion; its shares were traded at around $59.98 with a P/E ratio of 22.8 and P/S ratio of 0.7. Express Scripts Inc. had an annual average earnings growth of 28.6% over the past 10 years. GuruFocus rated Express Scripts Inc. the business predictability rank of 5-star.
Added: Scripps Networks Interactive Inc. (SNI)
Steve Mandel added to his holdings in Scripps Networks Interactive Inc. by 114.93%. His purchase prices were between $45.99 and $53.36, with an estimated average price of $49.65. The impact to his portfolio due to this purchase was 0.7%. His holdings were 3,289,069 shares as of 03/31/2011.
SCRIPPS NETWORKS INTERACTIVE INC. is the developer of lifestyle-oriented content for television and the Internet, where on-air programming is complemented with online video, social media areas and e-commerce components on companion Web sites and broadband vertical channels. Scripps Networks Interactive Inc. has a market cap of $6.67 billion; its shares were traded at around $49.98 with a P/E ratio of 20.2 and P/S ratio of 3.3. The dividend yield of Scripps Networks Interactive Inc. stocks is 0.6%.
Added: Dollar General Corp. (DG)
Steve Mandel added to his holdings in Dollar General Corp. by 16.14%. His purchase prices were between $26.85 and $31.55, with an estimated average price of $29.09. The impact to his portfolio due to this purchase was 0.55%. His holdings were 15,787,041 shares as of 03/31/2011.
Dollar General Corporation is a discount retailer in the United States. Dollar General Corp. has a market cap of $11.49 billion; its shares were traded at around $33.63 with a P/E ratio of 18 and P/S ratio of 0.9.
Added: Family Dollar Stores Inc (FDO)
Steve Mandel added to his holdings in Family Dollar Stores Inc by 19.01%. His purchase prices were between $41.38 and $53.25, with an estimated average price of $47.48. The impact to his portfolio due to this purchase was 0.37%. His holdings were 5,633,166 shares as of 03/31/2011.
Family Dollar Stores, Inc. is one of the fastest growing discount store chains in the United States. Family Dollar Stores Inc has a market cap of $6.56 billion; its shares were traded at around $53.65 with a P/E ratio of 18.7 and P/S ratio of 0.8. The dividend yield of Family Dollar Stores Inc stocks is 1.4%. Family Dollar Stores Inc had an annual average earnings growth of 8.1% over the past 10 years. GuruFocus rated Family Dollar Stores Inc the business predictability rank of 4-star.
Added: Liberty Media Corp. Liberty Starz Ser A (LSTZA)
Steve Mandel added to his holdings in Liberty Media Corp. Liberty Starz Ser A by 51.17%. His purchase prices were between $64.82 and $79.48, with an estimated average price of $71.31. The impact to his portfolio due to this purchase was 0.26%. His holdings were 1,259,494 shares as of 03/31/2011.
Liberty Starz Group is a significant operating subsidiary and also a principal reportable segment of Liberty Media Corporation which focuses primarily on video programming, communications businesses, and the direct-to-home satellite distribution business. Liberty Media Corp. Liberty Starz Ser A has a market cap of $3.68 billion; its shares were traded at around $74.98 with a P/E ratio of 18.8 and P/S ratio of 2.8.
Added: Wabco Holdings Inc. (WBC)
Steve Mandel added to his holdings in Wabco Holdings Inc. by 42.57%. His purchase prices were between $56.55 and $65.38, with an estimated average price of $59.72. The impact to his portfolio due to this purchase was 0.19%. His holdings were 1,297,495 shares as of 03/31/2011.
WABCO is one of the world's providers of electronic braking, stability, suspension and transmission control systems for heavy duty commercial vehicles. Wabco Holdings Inc. has a market cap of $4.66 billion; its shares were traded at around $69.95 with a P/E ratio of 20.6 and P/S ratio of 2.1.
Added: Isoftstone Holdings Ltd. (ISS)
Steve Mandel added to his holdings in Isoftstone Holdings Ltd. by 107.55%. His purchase prices were between $16.96 and $20.66, with an estimated average price of $19.27. The impact to his portfolio due to this purchase was 0.19%. His holdings were 2,542,436 shares as of 03/31/2011.
iSoftStone Holdings Limited Ame is an IT service provider operating an integrated service delivery platform for IT services and solutions in the Peoples' Republic of China. Isoftstone Holdings Ltd. has a market cap of $810.4 million; its shares were traded at around $15.99 with and P/S ratio of 4.1.
Added: Polo Ralph Lauren Corp. (RL)
Steve Mandel added to his holdings in Polo Ralph Lauren Corp. by 3.22%. His purchase prices were between $103.95 and $127.98, with an estimated average price of $116.94. The impact to his portfolio due to this purchase was 0.11%. His holdings were 3,582,711 shares as of 03/31/2011.
Polo Ralph Lauren Corp. is in the design, marketing and distribution of premium lifestyle products. Polo Ralph Lauren Corp. has a market cap of $12.52 billion; its shares were traded at around $130.21 with a P/E ratio of 21.1 and P/S ratio of 2.6. The dividend yield of Polo Ralph Lauren Corp. stocks is 0.6%. Polo Ralph Lauren Corp. had an annual average earnings growth of 13.9% over the past 10 years. GuruFocus rated Polo Ralph Lauren Corp. the business predictability rank of 3-star.
Added: Home Inns & Hotels Management Inc. (HMIN)
Steve Mandel added to his holdings in Home Inns & Hotels Management Inc. by 53.19%. His purchase prices were between $32.55 and $40.96, with an estimated average price of $37.25. The impact to his portfolio due to this purchase was 0.09%. His holdings were 803,860 shares as of 03/31/2011.
Home Inns & Hotels Management Inc. is a economy hotel chain in China based on the number of hotels and hotel rooms, as well as the geographic coverage of the hotel chain. Home Inns & Hotels Management Inc. has a market cap of $1.54 billion; its shares were traded at around $38.69 with a P/E ratio of 50.8 and P/S ratio of 3.5. Home Inns & Hotels Management Inc. had an annual average earnings growth of 58% over the past 5 years.
New Purchase: Priceline.com Inc. (PCLN, Financial)
Steve Mandel initiated holdings in Priceline.com Inc.. His purchase prices were between $399.55 and $504, with an estimated average price of $448.15. The impact to his portfolio due to this purchase was 1.44%. His holdings were 358,177 shares as of 03/31/2011.
Priceline.com Incorporated has pioneered a unique e-commerce pricing system known as a `demand collection system` that enables consumers to use the Internet to save money on a wide range of products and services while enabling sellers to generate incremental revenue. Priceline.com Inc. has a market cap of $25.56 billion; its shares were traded at around $520.08 with a P/E ratio of 39.4 and P/S ratio of 8.3. Priceline.com Inc. had an annual average earnings growth of 61.7% over the past 5 years.
New Purchase: Nielsen Holdings N.v. (NLSN, Financial)
Steve Mandel initiated holdings in Nielsen Holdings N.v.. His purchase prices were between $25 and $27.94, with an estimated average price of $26.4. The impact to his portfolio due to this purchase was 1.39%. His holdings were 6,398,200 shares as of 03/31/2011.
Nielsen Holdings B.V. is an information and measurement company providing clients with media and marketing information and analytics about what consumers watch (consumer interaction with television, online and mobile) and what consumers buy on a global and local basis. Nielsen Holdings N.v. has a market cap of $11.44 billion; its shares were traded at around $31.94 with and P/S ratio of 2.3.
New Purchase: Medco Health Solutions Inc. (MHS, Financial)
Steve Mandel initiated holdings in Medco Health Solutions Inc.. His purchase prices were between $52.2 and $65.3, with an estimated average price of $60.96. The impact to his portfolio due to this purchase was 1.39%. His holdings were 3,102,858 shares as of 03/31/2011.
Medco Health Solutions, Inc. is the nation's largest pharmacy benefit manager, or PBM. Medco Health Solutions Inc. has a market cap of $26.07 billion; its shares were traded at around $64.3 with a P/E ratio of 18.1 and P/S ratio of 0.4. Medco Health Solutions Inc. had an annual average earnings growth of 24.3% over the past 10 years.
New Purchase: U.s. Bancorp (USB, Financial)
Steve Mandel initiated holdings in U.s. Bancorp. His purchase prices were between $26.05 and $28.7, with an estimated average price of $27.14. The impact to his portfolio due to this purchase was 1.37%. His holdings were 6,541,298 shares as of 03/31/2011.
U.S. Bancorp is a financial services holding company. U.s. Bancorp has a market cap of $48.52 billion; its shares were traded at around $25.2 with a P/E ratio of 13.4 and P/S ratio of 2.4. The dividend yield of U.s. Bancorp stocks is 2%. U.s. Bancorp had an annual average earnings growth of 1.6% over the past 10 years.
New Purchase: Cocacola Company (KO, Financial)
Steve Mandel initiated holdings in Cocacola Company. His purchase prices were between $61.6 and $66.04, with an estimated average price of $63.77. The impact to his portfolio due to this purchase was 1.36%. His holdings were 2,586,200 shares as of 03/31/2011.
The Coca-Cola Company is the world's largest beverage company and is the producer and marketer of soft drinks. Cocacola Company has a market cap of $156.76 billion; its shares were traded at around $68.3 with a P/E ratio of 19.2 and P/S ratio of 4.4. The dividend yield of Cocacola Company stocks is 2.8%. Cocacola Company had an annual average earnings growth of 7.3% over the past 10 years. GuruFocus rated Cocacola Company the business predictability rank of 4-star.
New Purchase: Citrix Systems Inc. (CTXS)
Steve Mandel initiated holdings in Citrix Systems Inc.. His purchase prices were between $61.95 and $72.8, with an estimated average price of $68.38. The impact to his portfolio due to this purchase was 1.35%. His holdings were 2,314,910 shares as of 03/31/2011.
Citrix Systems, Inc. is one of the suppliers of application delivery and management software and services that enable the effective and efficient enterprise-wide deployment and management of applications. Citrix Systems Inc. has a market cap of $15.81 billion; its shares were traded at around $84.28 with a P/E ratio of 48.6 and P/S ratio of 8.3. Citrix Systems Inc. had an annual average earnings growth of 5.8% over the past 10 years. GuruFocus rated Citrix Systems Inc. the business predictability rank of 4-star.
New Purchase: Monsanto Company (MON)
Steve Mandel initiated holdings in Monsanto Company. His purchase prices were between $66.43 and $76.05, with an estimated average price of $71.62. The impact to his portfolio due to this purchase was 1.34%. His holdings were 2,323,792 shares as of 03/31/2011.
Monsanto is a global provider of technology-based solutions and agricultural products for growers and downstream customers, such as grain processors and consumers, in the agricultural markets. Monsanto Company has a market cap of $35.55 billion; its shares were traded at around $66.33 with a P/E ratio of 25.4 and P/S ratio of 3.3. The dividend yield of Monsanto Company stocks is 1.7%. Monsanto Company had an annual average earnings growth of 32.5% over the past 10 years.
New Purchase: News Corp. (NWSA)
Steve Mandel initiated holdings in News Corp.. His purchase prices were between $14.13 and $17.71, with an estimated average price of $16.21. The impact to his portfolio due to this purchase was 1.34%. His holdings were 9,576,768 shares as of 03/31/2011.
NEWS CORPORATION is a diversified entertainment company with operations in eight industry segments: filmed entertainment; television; cable network programming; direct broadcast satellite television; magazines and inserts; newspapers and information services; book publishing; and other. News Corp. has a market cap of $31.93 billion; its shares were traded at around $17.48 with a P/E ratio of 17.5 and P/S ratio of 1. The dividend yield of News Corp. stocks is 0.9%.
New Purchase: Royal Caribbean Cruises Ltd. (RCL)
Steve Mandel initiated holdings in Royal Caribbean Cruises Ltd.. His purchase prices were between $40.79 and $49.96, with an estimated average price of $45.23. The impact to his portfolio due to this purchase was 1.27%. His holdings were 3,874,112 shares as of 03/31/2011.
Royal Caribbean Cruises Ltd. is a global cruise vacation company that operates Royal Caribbean International, Celebrity Cruises, and Royal Celebrity Tours. Royal Caribbean Cruises Ltd. has a market cap of $8.64 billion; its shares were traded at around $40.01 with a P/E ratio of 16.5 and P/S ratio of 1.3. Royal Caribbean Cruises Ltd. had an annual average earnings growth of 4.4% over the past 10 years.
New Purchase: Sensata Technologies Holding N.v. (ST)
Steve Mandel initiated holdings in Sensata Technologies Holding N.v.. His purchase prices were between $29.79 and $34.12, with an estimated average price of $32.05. The impact to his portfolio due to this purchase was 1.02%. His holdings were 3,697,437 shares as of 03/31/2011.
Sensata Technologies B.V., through its subsidiaries, is a supplier of sensing, electrical protection, control and power management solutions. Sensata Technologies Holding N.v. has a market cap of $6.19 billion; its shares were traded at around $35.51 with a P/E ratio of 19.3 and P/S ratio of 4.
New Purchase: Netease.com Inc. (NTES)
Steve Mandel initiated holdings in Netease.com Inc.. His purchase prices were between $36.15 and $49.01, with an estimated average price of $42.82. The impact to his portfolio due to this purchase was 0.81%. His holdings were 2,050,965 shares as of 03/31/2011.
Netease.com is one of the Internet companies in China. Netease.com Inc. has a market cap of $6.01 billion; its shares were traded at around $46.25 with a P/E ratio of 18.2 and P/S ratio of 7.1. Netease.com Inc. had an annual average earnings growth of 25.9% over the past 5 years.
New Purchase: Solarwinds Inc. (SWI)
Steve Mandel initiated holdings in Solarwinds Inc.. His purchase prices were between $18.64 and $24.07, with an estimated average price of $21.11. The impact to his portfolio due to this purchase was 0.38%. His holdings were 2,014,906 shares as of 03/31/2011.
SolarWinds, Inc., headquartered in Austin, Texas, provides powerful, simple and affordable network management software to more than 80,000 customers worldwide -- from Fortune 500 enterprises to small businesses. Solarwinds Inc. has a market cap of $1.71 billion; its shares were traded at around $23.57 with a P/E ratio of 34.1 and P/S ratio of 11.2.
New Purchase: Accretive Health Inc. (AH)
Steve Mandel initiated holdings in Accretive Health Inc.. His purchase prices were between $16.25 and $27.57, with an estimated average price of $20.63. The impact to his portfolio due to this purchase was 0.34%. His holdings were 1,535,778 shares as of 03/31/2011.
Accretive Health, Inc., headquartered in Chicago, Illinois, is engaged in providing healthcare revenue cycle management services. Accretive Health Inc. has a market cap of $2.32 billion; its shares were traded at around $24.37 with a P/E ratio of 187.4 and P/S ratio of 3.7.
Reduced: Schlumberger Ltd. (SLB, Financial)
Steve Mandel reduced to his holdings in Schlumberger Ltd. by 44.74%. His sale prices were between $80.53 and $95.04, with an estimated average price of $87.94. The impact to his portfolio due to this sale was -2.32%. Steve Mandel still held 3,870,564 shares as of 03/31/2011.
Schlumberger Limited is a global technology services company consisting of two business segments, Schlumberger Oilfield Services and SchlumbergerSema. Schlumberger Ltd. has a market cap of $113.55 billion; its shares were traded at around $83.5 with a P/E ratio of 28.5 and P/S ratio of 4.2. The dividend yield of Schlumberger Ltd. stocks is 1.2%. Schlumberger Ltd. had an annual average earnings growth of 7.2% over the past 5 years.
Reduced: Amphenol Corp. (APH, Financial)
Steve Mandel reduced to his holdings in Amphenol Corp. by 84.65%. His sale prices were between $51.68 and $58.6, with an estimated average price of $55.49. The impact to his portfolio due to this sale was -1.87%. Steve Mandel still held 776,198 shares as of 03/31/2011.
Amphenol Corporation is one of the world's largest designers, manufacturers and marketers of electrical, electronic and fiber optic connectors, interconnect systems and coaxial and flat-ribbon cable. Amphenol Corp. has a market cap of $9.61 billion; its shares were traded at around $54.65 with a P/E ratio of 19 and P/S ratio of 2.7. The dividend yield of Amphenol Corp. stocks is 0.1%. Amphenol Corp. had an annual average earnings growth of 38.3% over the past 10 years. GuruFocus rated Amphenol Corp. the business predictability rank of 5-star.
Reduced: Citigroup Inc. (C, Financial)
Steve Mandel reduced to his holdings in Citigroup Inc. by 35.62%. His sale prices were between $43.9 and $51.3, with an estimated average price of $47.29. The impact to his portfolio due to this sale was -1.81%. Steve Mandel still held 93,447,100 shares as of 03/31/2011.
Citigroup Inc., the global financial services company, has some two hundred million customer accounts and does business in more than hundred countries, providing consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citigroup Inc. has a market cap of $119.19 billion; its shares were traded at around $41.02 with a P/E ratio of 13.2 and P/S ratio of 1.4.
Reduced: Ameriprise Financial Inc. (AMP, Financial)
Steve Mandel reduced to his holdings in Ameriprise Financial Inc. by 62.64%. His sale prices were between $57.55 and $64.73, with an estimated average price of $61.31. The impact to his portfolio due to this sale was -1.64%. Steve Mandel still held 2,016,271 shares as of 03/31/2011.
AMERIPRISE FINANCIAL, INC. is a financial planning and services company with financial advisors and registered representatives that provides solutions for clients' asset accumulation, income management and insurance protection needs. Ameriprise Financial Inc. has a market cap of $15.31 billion; its shares were traded at around $62.17 with a P/E ratio of 12.3 and P/S ratio of 1.5. The dividend yield of Ameriprise Financial Inc. stocks is 1.5%.
Reduced: Cablevision Systems Corp. (CVC)
Steve Mandel reduced to his holdings in Cablevision Systems Corp. by 90.38%. His sale prices were between $33.41 and $37.72, with an estimated average price of $35.27. The impact to his portfolio due to this sale was -1.32%. Steve Mandel still held 493,000 shares as of 03/31/2011.
Cablevision Systems Corp. is one of the nation's entertainment and telecommunications companies. Cablevision Systems Corp. has a market cap of $10.03 billion; its shares were traded at around $34.5 with a P/E ratio of 21.5 and P/S ratio of 1.4. The dividend yield of Cablevision Systems Corp. stocks is 1.8%. Cablevision Systems Corp. had an annual average earnings growth of 9.8% over the past 10 years.
Reduced: Autodesk Inc. (ADSK)
Steve Mandel reduced to his holdings in Autodesk Inc. by 54.01%. His sale prices were between $38.2 and $43.84, with an estimated average price of $41.39. The impact to his portfolio due to this sale was -0.82%. Steve Mandel still held 1,986,061 shares as of 03/31/2011.
Autodesk is one of the world's design software and digital content companies for architectural design and land development, manufacturing, utilities, telecommunications, and media and entertainment. Autodesk Inc. has a market cap of $9.65 billion; its shares were traded at around $42.35 with a P/E ratio of 40.7 and P/S ratio of 5. Autodesk Inc. had an annual average earnings growth of 10.3% over the past 10 years.
Reduced: Mead Johnson Nutrition Company (MJN)
Steve Mandel reduced to his holdings in Mead Johnson Nutrition Company by 35.18%. His sale prices were between $55.36 and $63, with an estimated average price of $59.56. The impact to his portfolio due to this sale was -0.68%. Steve Mandel still held 2,707,972 shares as of 03/31/2011.
Mead Johnson Nutrition Company is a pediatric nutrition company. Mead Johnson Nutrition Company has a market cap of $13.75 billion; its shares were traded at around $67.3 with a P/E ratio of 26.4 and P/S ratio of 4.4. The dividend yield of Mead Johnson Nutrition Company stocks is 1.5%.
Reduced: Towers Watson & Co (TW)
Steve Mandel reduced to his holdings in Towers Watson & Co by 41.82%. His sale prices were between $52.06 and $58.8, with an estimated average price of $55.88. The impact to his portfolio due to this sale was -0.64%. Steve Mandel still held 2,027,651 shares as of 03/31/2011.
Towers Watson & Co. is a global professional services company that helps organizations improve performance through effective people, risk and financial management. Towers Watson & Co has a market cap of $4.72 billion; its shares were traded at around $63.27 with a P/E ratio of 17.7 and P/S ratio of 1.9. The dividend yield of Towers Watson & Co stocks is 0.5%. Towers Watson & Co had an annual average earnings growth of 14.5% over the past 10 years. GuruFocus rated Towers Watson & Co the business predictability rank of 3-star.
Reduced: Lincare Holdings Inc. (LNCR)
Steve Mandel reduced to his holdings in Lincare Holdings Inc. by 25.77%. His sale prices were between $26.4 and $30.14, with an estimated average price of $28.31. The impact to his portfolio due to this sale was -0.38%. Steve Mandel still held 4,635,800 shares as of 03/31/2011.
Lincare Holdings Inc. is one of the nation's largest providers of oxygen and other respiratory therapy services to patients in the home. Lincare Holdings Inc. has a market cap of $2.84 billion; its shares were traded at around $30.01 with a P/E ratio of 15.7 and P/S ratio of 1.7. The dividend yield of Lincare Holdings Inc. stocks is 2.6%. Lincare Holdings Inc. had an annual average earnings growth of 8% over the past 10 years. GuruFocus rated Lincare Holdings Inc. the business predictability rank of 4.5-star.
Reduced: Informatica Corp. (INFA)
Steve Mandel reduced to his holdings in Informatica Corp. by 23.58%. His sale prices were between $41.97 and $51.47, with an estimated average price of $46.78. The impact to his portfolio due to this sale was -0.32%. Steve Mandel still held 2,510,444 shares as of 03/31/2011.
Informatica Corp. is a provider of software solutions that help large companies deploy, manage, maintain and grow systems that enable more effective business decision making. Informatica Corp. has a market cap of $5.25 billion; its shares were traded at around $55.38 with a P/E ratio of 57.7 and P/S ratio of 8.1. Informatica Corp. had an annual average earnings growth of 33.2% over the past 5 years.
Sold Out: Teck Resources Ltd. (TCK)
Steve Mandel sold out his holdings in Teck Resources Ltd.. His sale prices were between $50.9 and $65.1, with an estimated average price of $57.88.
Teck Resources Limited, formerly Teck Cominco Limited, is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, metallurgical coal, zinc, gold and energy. Teck Resources Ltd. has a market cap of $29.07 billion; its shares were traded at around $50 with a P/E ratio of 16.1 and P/S ratio of 3.1. The dividend yield of Teck Resources Ltd. stocks is 1.2%.
Sold Out: Schwab Charles Corp. (SCHW)
Steve Mandel sold out his holdings in Schwab Charles Corp.. His sale prices were between $17.11 and $19.45, with an estimated average price of $18.34.
Charles Schwab Corp. provides a full-service investing experience to customers through a clicks and mortar multi-dimensional, five channel offering of the Internet, branch offices, speech recognition, touch-tone telephone, e-mail and wireless technologies, multilingual and international services, and direct access to professionals day or night. Schwab Charles Corp. has a market cap of $20.88 billion; its shares were traded at around $17.32 with a P/E ratio of 30.3 and P/S ratio of 5. The dividend yield of Schwab Charles Corp. stocks is 1.4%. Schwab Charles Corp. had an annual average earnings growth of 9.3% over the past 10 years.
Sold Out: Dick's Sporting Goodsinc. (DKS)
Steve Mandel sold out his holdings in Dick's Sporting Goodsinc.. His sale prices were between $34.78 and $41.18, with an estimated average price of $37.62.
Dick's Sporting Goods is a full-line sporting goods retailer in the United States. Dick's Sporting Goodsinc. has a market cap of $4.66 billion; its shares were traded at around $39.17 with a P/E ratio of 24 and P/S ratio of 1. Dick's Sporting Goodsinc. had an annual average earnings growth of 10.8% over the past 10 years.
Sold Out: Union Pacific Corp. (UNP)
Steve Mandel sold out his holdings in Union Pacific Corp.. His sale prices were between $91.47 and $99.02, with an estimated average price of $95.36.
Union Pacific Corp. consists of one reportable segment, rail transportation, and the company's other product lines. Union Pacific Corp. has a market cap of $50.04 billion; its shares were traded at around $101.99 with a P/E ratio of 17.6 and P/S ratio of 3. The dividend yield of Union Pacific Corp. stocks is 1.5%. Union Pacific Corp. had an annual average earnings growth of 7.1% over the past 10 years.
Sold Out: Urban Outfitters Inc. (URBN)
Steve Mandel sold out his holdings in Urban Outfitters Inc.. His sale prices were between $29.62 and $38.5, with an estimated average price of $34.67.
Urban Outfitters, Inc. operates two business segments consisting of a lifestyle-oriented general merchandise retailing segment and a wholesale apparel business. Urban Outfitters Inc. has a market cap of $5.11 billion; its shares were traded at around $31.51 with a P/E ratio of 19.7 and P/S ratio of 2.3. Urban Outfitters Inc. had an annual average earnings growth of 30.9% over the past 10 years. GuruFocus rated Urban Outfitters Inc. the business predictability rank of 3.5-star.
Sold Out: Longtop Financial Technologies Ltd. (LFT)
Steve Mandel sold out his holdings in Longtop Financial Technologies Ltd.. His sale prices were between $28.41 and $36.27, with an estimated average price of $32.38.
Longtop is a software development and solutions provider targeting the financial services industry in China. Longtop Financial Technologies Ltd. has a market cap of $1.06 billion; its shares were traded at around $18.93 with and P/S ratio of 6.3.
Lone Pine Capital is a long/short equity hedge fund headquartered in Greenwich, Connecticut. Lone Pine Capital’s managing director is Stephen Mandel who earned his AB from Dartmouth College in 1978, and his MBA from Harvard Business School in 1982. With his education credentials in hand, Stephen Mandel would go on to serve as an analyst and consultant at several major firms, from Tiger Management to Goldman Sachs. Learning and networking from his tenure at these big firms, he launched Lone Pine Capital in 1997. In 2010, Mandel was named the 655th richest billionaire in the world. Mandel currently sits on the board of Dartmouth College, and serves as a director for Teach for America.
Stephen Mandel, like several other money managers, is often referred to as a “tiger-cub”. This originated from his tenure with renowned investor, Julian Robertson at Tiger Management Corporation. Julian Robertson is credited as one of the earliest founders of hedge funds. From his initial startup of $8 million, he made over $22 billion upon that capital by utilizing talented men and women as analysts from around the country. Many these analysts, who are now so eloquently referred to as “tiger-cubs”, would go on to launch their own hedge funds, When Julian Robertson shut down Tiger Management in 2000, he decided to further develop, mentor, and fund several of those that he felt were his brightest analysts. These analysts would then be known as “tiger-seeds”, and like their predecessors, would launch their own funds.
As a whole however, the successes of these funds cannot be described as consistent. The cubs are generally more successful then the seeds, perhaps due to their direct exposure and tutorage under Robertson. Several of the seeds posted losses in their first year, while others are under investigation for securities misconduct. It has been reasoned that these unspectacular results lie in the long-short equity strategy that Robertson utilized. The long-short equity strategy invests primarily in stocks, and as such, is more exposed to global macro events. Though fundamentals are pivotal to value investing, these funds experience greater movement in their positions due to the cyclical nature of the market. In addition, these new seeds are receiving less and less mentorage from Robertson, and as such, are not of the same veteran caliber as the cubs were when they launched their own funds.
Nonetheless, as a portfolio manager, Stephen Mandel boasts of beating the benchmark S&P 500 by 20% each year for the last 11 years. His success can be attributed to his methodology of “bottom-up” investing. At its very core, bottom-up investing deemphasizes the important of macroeconomic events and indicators, but rather, focuses on the fundamentals of the company. That being said, a through analysis of a company must be performed to understand its practices, operations, and future growth in order to render the final decision whether to long or short. Unlike most managers however, Stephen Mandel moves relatively quickly in and out of positions.
This is the portfolio chart of Steve Mandel. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.
- New Purchases: PCLN, NLSN, MHS, USB, KO, CTXS, MON, NWSA, RCL, ST, NTES, SWI, AH,
- Added Positions: QCOM, NTAP, CCI, IFF, CTRP, ORLY, ESRX, SNI, DG, FDO, LSTZA, ISS, WBC, RL, HMIN,
- Reduced Positions: SLB, APH, C, AMP, CVC, ADSK, MJN, TW, LNCR, INFA,
- Sold Out: TCK, SCHW, DKS, UNP, URBN, LFT,
This is the sector weightings of his portfolio:
| Consumer Services | 26.6% |
| Technology | 24.1% |
| Financials | 12% |
| Industrials | 10% |
| Health Care | 9.5% |
| Consumer Goods | 9.1% |
| Oil & Gas | 2.9% |
| Basic Materials | 1.7% |
These are the top 5 holdings of Steve Mandel
- Apple Inc. (AAPL) - 1,555,263 shares, 4.31% of the total portfolio. Shares reduced by 9.29%
- Express Scripts Inc. (ESRX) - 9,742,901 shares, 4.31% of the total portfolio. Shares added by 25.63%
- YUM BRANDS INC. (YUM) - 10,437,142 shares, 4.26% of the total portfolio. Shares reduced by 15.47%
- Cognizant Technology Solutions Corp. (CTSH) - 6,354,123 shares, 4.11% of the total portfolio. Shares reduced by 2.35%
- CROWN CASTLE INTL. CORP. (CCI) - 12,086,465 shares, 4.09% of the total portfolio. Shares added by 61.94%
Added: Qualcomm Inc. (QCOM, Financial)
Steve Mandel added to his holdings in Qualcomm Inc. by 149.75%. His purchase prices were between $49.49 and $59.58, with an estimated average price of $54.32. The impact to his portfolio due to this purchase was 1.65%. His holdings were 6,303,063 shares as of 03/31/2011.
QUALCOMM Inc. develops and delivers innovative digital wireless communications products and services based on the company's CDMA digital technology. Qualcomm Inc. has a market cap of $94.32 billion; its shares were traded at around $57.38 with a P/E ratio of 23 and P/S ratio of 8.5. The dividend yield of Qualcomm Inc. stocks is 1.3%. Qualcomm Inc. had an annual average earnings growth of 14.6% over the past 10 years. GuruFocus rated Qualcomm Inc. the business predictability rank of 3-star.
Added: Netapp Inc. (NTAP, Financial)
Steve Mandel added to his holdings in Netapp Inc. by 90.49%. His purchase prices were between $46.38 and $60.6, with an estimated average price of $53.85. The impact to his portfolio due to this purchase was 1.6%. His holdings were 8,794,747 shares as of 03/31/2011.
NetApp Inc., formerly Network Appliance, Inc., is a provider of innovative data management solutions that simplify the complexity of storing, managing, protecting, and retaining enterprise data. Netapp Inc. has a market cap of $19.75 billion; its shares were traded at around $53.7 with a P/E ratio of 32.7 and P/S ratio of 5. Netapp Inc. had an annual average earnings growth of 13% over the past 10 years.
Added: Crown Castle Intl. Corp. (CCI, Financial)
Steve Mandel added to his holdings in Crown Castle Intl. Corp. by 61.94%. His purchase prices were between $37.37 and $46.17, with an estimated average price of $42.02. The impact to his portfolio due to this purchase was 1.56%. His holdings were 12,086,465 shares as of 03/31/2011.
Crown Castle International is a owner and operator of towers and transmission networks for wireless communications and broadcast transmission companies. Crown Castle Intl. Corp. has a market cap of $12.04 billion; its shares were traded at around $41.38 with a P/E ratio of 2069 and P/S ratio of 6.4. Crown Castle Intl. Corp. had an annual average earnings growth of 11.7% over the past 10 years.
Added: International Flavors (IFF)
Steve Mandel added to his holdings in International Flavors by 1254.61%. His purchase prices were between $54.8 and $62.16, with an estimated average price of $57.5. The impact to his portfolio due to this purchase was 1.26%. His holdings were 2,742,507 shares as of 03/31/2011.
International Flavors & Fragrances Inc. is a creator and manufacturer of flavor and fragrance products used by other manufacturers to impart or improve flavor or fragrance in a wide variety of consumer products. International Flavors has a market cap of $5.08 billion; its shares were traded at around $63.33 with a P/E ratio of 17.8 and P/S ratio of 1.9. The dividend yield of International Flavors stocks is 1.7%. International Flavors had an annual average earnings growth of 5% over the past 10 years. GuruFocus rated International Flavors the business predictability rank of 4-star.
Added: Ctrip.com International Ltd. (CTRP)
Steve Mandel added to his holdings in Ctrip.com International Ltd. by 83.06%. His purchase prices were between $37.01 and $46.1, with an estimated average price of $40.8. The impact to his portfolio due to this purchase was 1.18%. His holdings were 7,894,563 shares as of 03/31/2011.
Ctrip.com International, Ltd. is a travel service provider of hotel accommodations, airline tickets and packaged-tours in China. Ctrip.com International Ltd. has a market cap of $6.62 billion; its shares were traded at around $44.8 with a P/E ratio of 43.5 and P/S ratio of 15.2. Ctrip.com International Ltd. had an annual average earnings growth of 64.2% over the past 10 years.
Added: O Reilly Automotive Inc. (ORLY)
Steve Mandel added to his holdings in O Reilly Automotive Inc. by 85.61%. His purchase prices were between $54.58 and $60.69, with an estimated average price of $56.76. The impact to his portfolio due to this purchase was 1.17%. His holdings were 5,563,396 shares as of 03/31/2011.
O'Reilly Automotive, Inc. is a specialty retailer and supplier of automotive aftermarket parts, tools, supplies, equipment and accessories to both ``do-it-yourself`` customers and professional mechanics or service technicians. O Reilly Automotive Inc. has a market cap of $8.15 billion; its shares were traded at around $57.89 with a P/E ratio of 18.2 and P/S ratio of 1.6. O Reilly Automotive Inc. had an annual average earnings growth of 16.7% over the past 10 years. GuruFocus rated O Reilly Automotive Inc. the business predictability rank of 5-star.
Added: Express Scripts Inc. (ESRX)
Steve Mandel added to his holdings in Express Scripts Inc. by 25.63%. His purchase prices were between $51.8 and $58.74, with an estimated average price of $55.84. The impact to his portfolio due to this purchase was 0.88%. His holdings were 9,742,901 shares as of 03/31/2011.
Express Scripts, Inc. is one of the largest pharmacy benefit management companies in North America. Express Scripts Inc. has a market cap of $31.74 billion; its shares were traded at around $59.98 with a P/E ratio of 22.8 and P/S ratio of 0.7. Express Scripts Inc. had an annual average earnings growth of 28.6% over the past 10 years. GuruFocus rated Express Scripts Inc. the business predictability rank of 5-star.
Added: Scripps Networks Interactive Inc. (SNI)
Steve Mandel added to his holdings in Scripps Networks Interactive Inc. by 114.93%. His purchase prices were between $45.99 and $53.36, with an estimated average price of $49.65. The impact to his portfolio due to this purchase was 0.7%. His holdings were 3,289,069 shares as of 03/31/2011.
SCRIPPS NETWORKS INTERACTIVE INC. is the developer of lifestyle-oriented content for television and the Internet, where on-air programming is complemented with online video, social media areas and e-commerce components on companion Web sites and broadband vertical channels. Scripps Networks Interactive Inc. has a market cap of $6.67 billion; its shares were traded at around $49.98 with a P/E ratio of 20.2 and P/S ratio of 3.3. The dividend yield of Scripps Networks Interactive Inc. stocks is 0.6%.
Added: Dollar General Corp. (DG)
Steve Mandel added to his holdings in Dollar General Corp. by 16.14%. His purchase prices were between $26.85 and $31.55, with an estimated average price of $29.09. The impact to his portfolio due to this purchase was 0.55%. His holdings were 15,787,041 shares as of 03/31/2011.
Dollar General Corporation is a discount retailer in the United States. Dollar General Corp. has a market cap of $11.49 billion; its shares were traded at around $33.63 with a P/E ratio of 18 and P/S ratio of 0.9.
Added: Family Dollar Stores Inc (FDO)
Steve Mandel added to his holdings in Family Dollar Stores Inc by 19.01%. His purchase prices were between $41.38 and $53.25, with an estimated average price of $47.48. The impact to his portfolio due to this purchase was 0.37%. His holdings were 5,633,166 shares as of 03/31/2011.
Family Dollar Stores, Inc. is one of the fastest growing discount store chains in the United States. Family Dollar Stores Inc has a market cap of $6.56 billion; its shares were traded at around $53.65 with a P/E ratio of 18.7 and P/S ratio of 0.8. The dividend yield of Family Dollar Stores Inc stocks is 1.4%. Family Dollar Stores Inc had an annual average earnings growth of 8.1% over the past 10 years. GuruFocus rated Family Dollar Stores Inc the business predictability rank of 4-star.
Added: Liberty Media Corp. Liberty Starz Ser A (LSTZA)
Steve Mandel added to his holdings in Liberty Media Corp. Liberty Starz Ser A by 51.17%. His purchase prices were between $64.82 and $79.48, with an estimated average price of $71.31. The impact to his portfolio due to this purchase was 0.26%. His holdings were 1,259,494 shares as of 03/31/2011.
Liberty Starz Group is a significant operating subsidiary and also a principal reportable segment of Liberty Media Corporation which focuses primarily on video programming, communications businesses, and the direct-to-home satellite distribution business. Liberty Media Corp. Liberty Starz Ser A has a market cap of $3.68 billion; its shares were traded at around $74.98 with a P/E ratio of 18.8 and P/S ratio of 2.8.
Added: Wabco Holdings Inc. (WBC)
Steve Mandel added to his holdings in Wabco Holdings Inc. by 42.57%. His purchase prices were between $56.55 and $65.38, with an estimated average price of $59.72. The impact to his portfolio due to this purchase was 0.19%. His holdings were 1,297,495 shares as of 03/31/2011.
WABCO is one of the world's providers of electronic braking, stability, suspension and transmission control systems for heavy duty commercial vehicles. Wabco Holdings Inc. has a market cap of $4.66 billion; its shares were traded at around $69.95 with a P/E ratio of 20.6 and P/S ratio of 2.1.
Added: Isoftstone Holdings Ltd. (ISS)
Steve Mandel added to his holdings in Isoftstone Holdings Ltd. by 107.55%. His purchase prices were between $16.96 and $20.66, with an estimated average price of $19.27. The impact to his portfolio due to this purchase was 0.19%. His holdings were 2,542,436 shares as of 03/31/2011.
iSoftStone Holdings Limited Ame is an IT service provider operating an integrated service delivery platform for IT services and solutions in the Peoples' Republic of China. Isoftstone Holdings Ltd. has a market cap of $810.4 million; its shares were traded at around $15.99 with and P/S ratio of 4.1.
Added: Polo Ralph Lauren Corp. (RL)
Steve Mandel added to his holdings in Polo Ralph Lauren Corp. by 3.22%. His purchase prices were between $103.95 and $127.98, with an estimated average price of $116.94. The impact to his portfolio due to this purchase was 0.11%. His holdings were 3,582,711 shares as of 03/31/2011.
Polo Ralph Lauren Corp. is in the design, marketing and distribution of premium lifestyle products. Polo Ralph Lauren Corp. has a market cap of $12.52 billion; its shares were traded at around $130.21 with a P/E ratio of 21.1 and P/S ratio of 2.6. The dividend yield of Polo Ralph Lauren Corp. stocks is 0.6%. Polo Ralph Lauren Corp. had an annual average earnings growth of 13.9% over the past 10 years. GuruFocus rated Polo Ralph Lauren Corp. the business predictability rank of 3-star.
Added: Home Inns & Hotels Management Inc. (HMIN)
Steve Mandel added to his holdings in Home Inns & Hotels Management Inc. by 53.19%. His purchase prices were between $32.55 and $40.96, with an estimated average price of $37.25. The impact to his portfolio due to this purchase was 0.09%. His holdings were 803,860 shares as of 03/31/2011.
Home Inns & Hotels Management Inc. is a economy hotel chain in China based on the number of hotels and hotel rooms, as well as the geographic coverage of the hotel chain. Home Inns & Hotels Management Inc. has a market cap of $1.54 billion; its shares were traded at around $38.69 with a P/E ratio of 50.8 and P/S ratio of 3.5. Home Inns & Hotels Management Inc. had an annual average earnings growth of 58% over the past 5 years.
New Purchase: Priceline.com Inc. (PCLN, Financial)
Steve Mandel initiated holdings in Priceline.com Inc.. His purchase prices were between $399.55 and $504, with an estimated average price of $448.15. The impact to his portfolio due to this purchase was 1.44%. His holdings were 358,177 shares as of 03/31/2011.
Priceline.com Incorporated has pioneered a unique e-commerce pricing system known as a `demand collection system` that enables consumers to use the Internet to save money on a wide range of products and services while enabling sellers to generate incremental revenue. Priceline.com Inc. has a market cap of $25.56 billion; its shares were traded at around $520.08 with a P/E ratio of 39.4 and P/S ratio of 8.3. Priceline.com Inc. had an annual average earnings growth of 61.7% over the past 5 years.
New Purchase: Nielsen Holdings N.v. (NLSN, Financial)
Steve Mandel initiated holdings in Nielsen Holdings N.v.. His purchase prices were between $25 and $27.94, with an estimated average price of $26.4. The impact to his portfolio due to this purchase was 1.39%. His holdings were 6,398,200 shares as of 03/31/2011.
Nielsen Holdings B.V. is an information and measurement company providing clients with media and marketing information and analytics about what consumers watch (consumer interaction with television, online and mobile) and what consumers buy on a global and local basis. Nielsen Holdings N.v. has a market cap of $11.44 billion; its shares were traded at around $31.94 with and P/S ratio of 2.3.
New Purchase: Medco Health Solutions Inc. (MHS, Financial)
Steve Mandel initiated holdings in Medco Health Solutions Inc.. His purchase prices were between $52.2 and $65.3, with an estimated average price of $60.96. The impact to his portfolio due to this purchase was 1.39%. His holdings were 3,102,858 shares as of 03/31/2011.
Medco Health Solutions, Inc. is the nation's largest pharmacy benefit manager, or PBM. Medco Health Solutions Inc. has a market cap of $26.07 billion; its shares were traded at around $64.3 with a P/E ratio of 18.1 and P/S ratio of 0.4. Medco Health Solutions Inc. had an annual average earnings growth of 24.3% over the past 10 years.
New Purchase: U.s. Bancorp (USB, Financial)
Steve Mandel initiated holdings in U.s. Bancorp. His purchase prices were between $26.05 and $28.7, with an estimated average price of $27.14. The impact to his portfolio due to this purchase was 1.37%. His holdings were 6,541,298 shares as of 03/31/2011.
U.S. Bancorp is a financial services holding company. U.s. Bancorp has a market cap of $48.52 billion; its shares were traded at around $25.2 with a P/E ratio of 13.4 and P/S ratio of 2.4. The dividend yield of U.s. Bancorp stocks is 2%. U.s. Bancorp had an annual average earnings growth of 1.6% over the past 10 years.
New Purchase: Cocacola Company (KO, Financial)
Steve Mandel initiated holdings in Cocacola Company. His purchase prices were between $61.6 and $66.04, with an estimated average price of $63.77. The impact to his portfolio due to this purchase was 1.36%. His holdings were 2,586,200 shares as of 03/31/2011.
The Coca-Cola Company is the world's largest beverage company and is the producer and marketer of soft drinks. Cocacola Company has a market cap of $156.76 billion; its shares were traded at around $68.3 with a P/E ratio of 19.2 and P/S ratio of 4.4. The dividend yield of Cocacola Company stocks is 2.8%. Cocacola Company had an annual average earnings growth of 7.3% over the past 10 years. GuruFocus rated Cocacola Company the business predictability rank of 4-star.
New Purchase: Citrix Systems Inc. (CTXS)
Steve Mandel initiated holdings in Citrix Systems Inc.. His purchase prices were between $61.95 and $72.8, with an estimated average price of $68.38. The impact to his portfolio due to this purchase was 1.35%. His holdings were 2,314,910 shares as of 03/31/2011.
Citrix Systems, Inc. is one of the suppliers of application delivery and management software and services that enable the effective and efficient enterprise-wide deployment and management of applications. Citrix Systems Inc. has a market cap of $15.81 billion; its shares were traded at around $84.28 with a P/E ratio of 48.6 and P/S ratio of 8.3. Citrix Systems Inc. had an annual average earnings growth of 5.8% over the past 10 years. GuruFocus rated Citrix Systems Inc. the business predictability rank of 4-star.
New Purchase: Monsanto Company (MON)
Steve Mandel initiated holdings in Monsanto Company. His purchase prices were between $66.43 and $76.05, with an estimated average price of $71.62. The impact to his portfolio due to this purchase was 1.34%. His holdings were 2,323,792 shares as of 03/31/2011.
Monsanto is a global provider of technology-based solutions and agricultural products for growers and downstream customers, such as grain processors and consumers, in the agricultural markets. Monsanto Company has a market cap of $35.55 billion; its shares were traded at around $66.33 with a P/E ratio of 25.4 and P/S ratio of 3.3. The dividend yield of Monsanto Company stocks is 1.7%. Monsanto Company had an annual average earnings growth of 32.5% over the past 10 years.
New Purchase: News Corp. (NWSA)
Steve Mandel initiated holdings in News Corp.. His purchase prices were between $14.13 and $17.71, with an estimated average price of $16.21. The impact to his portfolio due to this purchase was 1.34%. His holdings were 9,576,768 shares as of 03/31/2011.
NEWS CORPORATION is a diversified entertainment company with operations in eight industry segments: filmed entertainment; television; cable network programming; direct broadcast satellite television; magazines and inserts; newspapers and information services; book publishing; and other. News Corp. has a market cap of $31.93 billion; its shares were traded at around $17.48 with a P/E ratio of 17.5 and P/S ratio of 1. The dividend yield of News Corp. stocks is 0.9%.
New Purchase: Royal Caribbean Cruises Ltd. (RCL)
Steve Mandel initiated holdings in Royal Caribbean Cruises Ltd.. His purchase prices were between $40.79 and $49.96, with an estimated average price of $45.23. The impact to his portfolio due to this purchase was 1.27%. His holdings were 3,874,112 shares as of 03/31/2011.
Royal Caribbean Cruises Ltd. is a global cruise vacation company that operates Royal Caribbean International, Celebrity Cruises, and Royal Celebrity Tours. Royal Caribbean Cruises Ltd. has a market cap of $8.64 billion; its shares were traded at around $40.01 with a P/E ratio of 16.5 and P/S ratio of 1.3. Royal Caribbean Cruises Ltd. had an annual average earnings growth of 4.4% over the past 10 years.
New Purchase: Sensata Technologies Holding N.v. (ST)
Steve Mandel initiated holdings in Sensata Technologies Holding N.v.. His purchase prices were between $29.79 and $34.12, with an estimated average price of $32.05. The impact to his portfolio due to this purchase was 1.02%. His holdings were 3,697,437 shares as of 03/31/2011.
Sensata Technologies B.V., through its subsidiaries, is a supplier of sensing, electrical protection, control and power management solutions. Sensata Technologies Holding N.v. has a market cap of $6.19 billion; its shares were traded at around $35.51 with a P/E ratio of 19.3 and P/S ratio of 4.
New Purchase: Netease.com Inc. (NTES)
Steve Mandel initiated holdings in Netease.com Inc.. His purchase prices were between $36.15 and $49.01, with an estimated average price of $42.82. The impact to his portfolio due to this purchase was 0.81%. His holdings were 2,050,965 shares as of 03/31/2011.
Netease.com is one of the Internet companies in China. Netease.com Inc. has a market cap of $6.01 billion; its shares were traded at around $46.25 with a P/E ratio of 18.2 and P/S ratio of 7.1. Netease.com Inc. had an annual average earnings growth of 25.9% over the past 5 years.
New Purchase: Solarwinds Inc. (SWI)
Steve Mandel initiated holdings in Solarwinds Inc.. His purchase prices were between $18.64 and $24.07, with an estimated average price of $21.11. The impact to his portfolio due to this purchase was 0.38%. His holdings were 2,014,906 shares as of 03/31/2011.
SolarWinds, Inc., headquartered in Austin, Texas, provides powerful, simple and affordable network management software to more than 80,000 customers worldwide -- from Fortune 500 enterprises to small businesses. Solarwinds Inc. has a market cap of $1.71 billion; its shares were traded at around $23.57 with a P/E ratio of 34.1 and P/S ratio of 11.2.
New Purchase: Accretive Health Inc. (AH)
Steve Mandel initiated holdings in Accretive Health Inc.. His purchase prices were between $16.25 and $27.57, with an estimated average price of $20.63. The impact to his portfolio due to this purchase was 0.34%. His holdings were 1,535,778 shares as of 03/31/2011.
Accretive Health, Inc., headquartered in Chicago, Illinois, is engaged in providing healthcare revenue cycle management services. Accretive Health Inc. has a market cap of $2.32 billion; its shares were traded at around $24.37 with a P/E ratio of 187.4 and P/S ratio of 3.7.
Reduced: Schlumberger Ltd. (SLB, Financial)
Steve Mandel reduced to his holdings in Schlumberger Ltd. by 44.74%. His sale prices were between $80.53 and $95.04, with an estimated average price of $87.94. The impact to his portfolio due to this sale was -2.32%. Steve Mandel still held 3,870,564 shares as of 03/31/2011.
Schlumberger Limited is a global technology services company consisting of two business segments, Schlumberger Oilfield Services and SchlumbergerSema. Schlumberger Ltd. has a market cap of $113.55 billion; its shares were traded at around $83.5 with a P/E ratio of 28.5 and P/S ratio of 4.2. The dividend yield of Schlumberger Ltd. stocks is 1.2%. Schlumberger Ltd. had an annual average earnings growth of 7.2% over the past 5 years.
Reduced: Amphenol Corp. (APH, Financial)
Steve Mandel reduced to his holdings in Amphenol Corp. by 84.65%. His sale prices were between $51.68 and $58.6, with an estimated average price of $55.49. The impact to his portfolio due to this sale was -1.87%. Steve Mandel still held 776,198 shares as of 03/31/2011.
Amphenol Corporation is one of the world's largest designers, manufacturers and marketers of electrical, electronic and fiber optic connectors, interconnect systems and coaxial and flat-ribbon cable. Amphenol Corp. has a market cap of $9.61 billion; its shares were traded at around $54.65 with a P/E ratio of 19 and P/S ratio of 2.7. The dividend yield of Amphenol Corp. stocks is 0.1%. Amphenol Corp. had an annual average earnings growth of 38.3% over the past 10 years. GuruFocus rated Amphenol Corp. the business predictability rank of 5-star.
Reduced: Citigroup Inc. (C, Financial)
Steve Mandel reduced to his holdings in Citigroup Inc. by 35.62%. His sale prices were between $43.9 and $51.3, with an estimated average price of $47.29. The impact to his portfolio due to this sale was -1.81%. Steve Mandel still held 93,447,100 shares as of 03/31/2011.
Citigroup Inc., the global financial services company, has some two hundred million customer accounts and does business in more than hundred countries, providing consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citigroup Inc. has a market cap of $119.19 billion; its shares were traded at around $41.02 with a P/E ratio of 13.2 and P/S ratio of 1.4.
Reduced: Ameriprise Financial Inc. (AMP, Financial)
Steve Mandel reduced to his holdings in Ameriprise Financial Inc. by 62.64%. His sale prices were between $57.55 and $64.73, with an estimated average price of $61.31. The impact to his portfolio due to this sale was -1.64%. Steve Mandel still held 2,016,271 shares as of 03/31/2011.
AMERIPRISE FINANCIAL, INC. is a financial planning and services company with financial advisors and registered representatives that provides solutions for clients' asset accumulation, income management and insurance protection needs. Ameriprise Financial Inc. has a market cap of $15.31 billion; its shares were traded at around $62.17 with a P/E ratio of 12.3 and P/S ratio of 1.5. The dividend yield of Ameriprise Financial Inc. stocks is 1.5%.
Reduced: Cablevision Systems Corp. (CVC)
Steve Mandel reduced to his holdings in Cablevision Systems Corp. by 90.38%. His sale prices were between $33.41 and $37.72, with an estimated average price of $35.27. The impact to his portfolio due to this sale was -1.32%. Steve Mandel still held 493,000 shares as of 03/31/2011.
Cablevision Systems Corp. is one of the nation's entertainment and telecommunications companies. Cablevision Systems Corp. has a market cap of $10.03 billion; its shares were traded at around $34.5 with a P/E ratio of 21.5 and P/S ratio of 1.4. The dividend yield of Cablevision Systems Corp. stocks is 1.8%. Cablevision Systems Corp. had an annual average earnings growth of 9.8% over the past 10 years.
Reduced: Autodesk Inc. (ADSK)
Steve Mandel reduced to his holdings in Autodesk Inc. by 54.01%. His sale prices were between $38.2 and $43.84, with an estimated average price of $41.39. The impact to his portfolio due to this sale was -0.82%. Steve Mandel still held 1,986,061 shares as of 03/31/2011.
Autodesk is one of the world's design software and digital content companies for architectural design and land development, manufacturing, utilities, telecommunications, and media and entertainment. Autodesk Inc. has a market cap of $9.65 billion; its shares were traded at around $42.35 with a P/E ratio of 40.7 and P/S ratio of 5. Autodesk Inc. had an annual average earnings growth of 10.3% over the past 10 years.
Reduced: Mead Johnson Nutrition Company (MJN)
Steve Mandel reduced to his holdings in Mead Johnson Nutrition Company by 35.18%. His sale prices were between $55.36 and $63, with an estimated average price of $59.56. The impact to his portfolio due to this sale was -0.68%. Steve Mandel still held 2,707,972 shares as of 03/31/2011.
Mead Johnson Nutrition Company is a pediatric nutrition company. Mead Johnson Nutrition Company has a market cap of $13.75 billion; its shares were traded at around $67.3 with a P/E ratio of 26.4 and P/S ratio of 4.4. The dividend yield of Mead Johnson Nutrition Company stocks is 1.5%.
Reduced: Towers Watson & Co (TW)
Steve Mandel reduced to his holdings in Towers Watson & Co by 41.82%. His sale prices were between $52.06 and $58.8, with an estimated average price of $55.88. The impact to his portfolio due to this sale was -0.64%. Steve Mandel still held 2,027,651 shares as of 03/31/2011.
Towers Watson & Co. is a global professional services company that helps organizations improve performance through effective people, risk and financial management. Towers Watson & Co has a market cap of $4.72 billion; its shares were traded at around $63.27 with a P/E ratio of 17.7 and P/S ratio of 1.9. The dividend yield of Towers Watson & Co stocks is 0.5%. Towers Watson & Co had an annual average earnings growth of 14.5% over the past 10 years. GuruFocus rated Towers Watson & Co the business predictability rank of 3-star.
Reduced: Lincare Holdings Inc. (LNCR)
Steve Mandel reduced to his holdings in Lincare Holdings Inc. by 25.77%. His sale prices were between $26.4 and $30.14, with an estimated average price of $28.31. The impact to his portfolio due to this sale was -0.38%. Steve Mandel still held 4,635,800 shares as of 03/31/2011.
Lincare Holdings Inc. is one of the nation's largest providers of oxygen and other respiratory therapy services to patients in the home. Lincare Holdings Inc. has a market cap of $2.84 billion; its shares were traded at around $30.01 with a P/E ratio of 15.7 and P/S ratio of 1.7. The dividend yield of Lincare Holdings Inc. stocks is 2.6%. Lincare Holdings Inc. had an annual average earnings growth of 8% over the past 10 years. GuruFocus rated Lincare Holdings Inc. the business predictability rank of 4.5-star.
Reduced: Informatica Corp. (INFA)
Steve Mandel reduced to his holdings in Informatica Corp. by 23.58%. His sale prices were between $41.97 and $51.47, with an estimated average price of $46.78. The impact to his portfolio due to this sale was -0.32%. Steve Mandel still held 2,510,444 shares as of 03/31/2011.
Informatica Corp. is a provider of software solutions that help large companies deploy, manage, maintain and grow systems that enable more effective business decision making. Informatica Corp. has a market cap of $5.25 billion; its shares were traded at around $55.38 with a P/E ratio of 57.7 and P/S ratio of 8.1. Informatica Corp. had an annual average earnings growth of 33.2% over the past 5 years.
Sold Out: Teck Resources Ltd. (TCK)
Steve Mandel sold out his holdings in Teck Resources Ltd.. His sale prices were between $50.9 and $65.1, with an estimated average price of $57.88.
Teck Resources Limited, formerly Teck Cominco Limited, is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, metallurgical coal, zinc, gold and energy. Teck Resources Ltd. has a market cap of $29.07 billion; its shares were traded at around $50 with a P/E ratio of 16.1 and P/S ratio of 3.1. The dividend yield of Teck Resources Ltd. stocks is 1.2%.
Sold Out: Schwab Charles Corp. (SCHW)
Steve Mandel sold out his holdings in Schwab Charles Corp.. His sale prices were between $17.11 and $19.45, with an estimated average price of $18.34.
Charles Schwab Corp. provides a full-service investing experience to customers through a clicks and mortar multi-dimensional, five channel offering of the Internet, branch offices, speech recognition, touch-tone telephone, e-mail and wireless technologies, multilingual and international services, and direct access to professionals day or night. Schwab Charles Corp. has a market cap of $20.88 billion; its shares were traded at around $17.32 with a P/E ratio of 30.3 and P/S ratio of 5. The dividend yield of Schwab Charles Corp. stocks is 1.4%. Schwab Charles Corp. had an annual average earnings growth of 9.3% over the past 10 years.
Sold Out: Dick's Sporting Goodsinc. (DKS)
Steve Mandel sold out his holdings in Dick's Sporting Goodsinc.. His sale prices were between $34.78 and $41.18, with an estimated average price of $37.62.
Dick's Sporting Goods is a full-line sporting goods retailer in the United States. Dick's Sporting Goodsinc. has a market cap of $4.66 billion; its shares were traded at around $39.17 with a P/E ratio of 24 and P/S ratio of 1. Dick's Sporting Goodsinc. had an annual average earnings growth of 10.8% over the past 10 years.
Sold Out: Union Pacific Corp. (UNP)
Steve Mandel sold out his holdings in Union Pacific Corp.. His sale prices were between $91.47 and $99.02, with an estimated average price of $95.36.
Union Pacific Corp. consists of one reportable segment, rail transportation, and the company's other product lines. Union Pacific Corp. has a market cap of $50.04 billion; its shares were traded at around $101.99 with a P/E ratio of 17.6 and P/S ratio of 3. The dividend yield of Union Pacific Corp. stocks is 1.5%. Union Pacific Corp. had an annual average earnings growth of 7.1% over the past 10 years.
Sold Out: Urban Outfitters Inc. (URBN)
Steve Mandel sold out his holdings in Urban Outfitters Inc.. His sale prices were between $29.62 and $38.5, with an estimated average price of $34.67.
Urban Outfitters, Inc. operates two business segments consisting of a lifestyle-oriented general merchandise retailing segment and a wholesale apparel business. Urban Outfitters Inc. has a market cap of $5.11 billion; its shares were traded at around $31.51 with a P/E ratio of 19.7 and P/S ratio of 2.3. Urban Outfitters Inc. had an annual average earnings growth of 30.9% over the past 10 years. GuruFocus rated Urban Outfitters Inc. the business predictability rank of 3.5-star.
Sold Out: Longtop Financial Technologies Ltd. (LFT)
Steve Mandel sold out his holdings in Longtop Financial Technologies Ltd.. His sale prices were between $28.41 and $36.27, with an estimated average price of $32.38.
Longtop is a software development and solutions provider targeting the financial services industry in China. Longtop Financial Technologies Ltd. has a market cap of $1.06 billion; its shares were traded at around $18.93 with and P/S ratio of 6.3.
