Guru Steve Mandel’s first quarter sell outs of large positions are geared to cleaning out his Internet and technology-related holdings. Hedge fund mega-investor Steve Mandel, founder of Lone Pine Capital LLC, sold out a major holding in Facebook Inc. (FB, Financial) as of March 31, 2013, along with another Internet content company, NetEase Inc. (NTES, Financial) along with three more software, telecom and information service companies. The Lone Pine portfolio is heavily weighted with consumer cyclical at 33.8% and technology at 17.9%. Here are the trade details as of March 31, 2013:
Sold Out: Facebook Inc. (FB) – Internet Content and Information
After one quarter of gaining 3.5% in the fourth quarter of 2012, Steve Mandel sold out his position by unloading around 10.9 million shares of FB, at an average price of $28.45 for a loss of 14.6%. This trade impacts his portfolio by -1.8%.
The current share price is $24.31 compared to past valuations.
Sold Out: NetEase Inc. (NTES) – Internet Content and Information
After nine positive quarters, Steve Mandel sold out his position by unloading 752,604 shares of NTES, at an average price of $49.42 for a gain of 25.6%. This trade impacts his portfolio by -0.2%. Mandel’s highest gain was 44.2% in the first quarter of 2011.
The current share price is $62.06 compared to past valuations.
Sold Out: Crown Castle International Corp. (CCI, Financial) – Telecom Services
After 13 quarters of strong gains, Steve Mandel sold out his position by unloading around 2.8 million shares of CCI, at an average price of $71.20 for a gain of 3.5%. This trade impacts his portfolio by -1.3%. Mandel’s highest gain was 310.5% in the fourth quarter of 2008.
The current share price is $73.72 compared to past valuations.
Sold Out: Accretive Health Inc. (AH, Financial) – Health Information Services
After eight losing quarters, Steve Mandel sold out his position by unloading around 5.3 million shares of AH, at an average price of $11.63 for a loss of 4.6%. This trade impacts his portfolio by -0.39%.
The current share price is $11.09 compared to past valuations.
Sold Out: Informatica Corporation (INFA, Financial) – Software - Application
After six mixed quarters, Steve Mandel sold out his position by unloading around 1.8 million shares of INFA, at an average price of $34.95 for a loss of 1.4%. This trade impacts his portfolio by -0.36%.
The current share price is $34.45 compared to past valuations.
The Lone Pine Capital website is closed to the public, but according to GuruFocus research as of May 14, 2013, Steve Mandel’s portfolio has 59 stocks, nine of them new, with a total value of $19.2 billion, and a quarter-over-quarter turnover of 17%.
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Sold Out: Facebook Inc. (FB) – Internet Content and Information
After one quarter of gaining 3.5% in the fourth quarter of 2012, Steve Mandel sold out his position by unloading around 10.9 million shares of FB, at an average price of $28.45 for a loss of 14.6%. This trade impacts his portfolio by -1.8%.
The current share price is $24.31 compared to past valuations.
Sold Out: NetEase Inc. (NTES) – Internet Content and Information
After nine positive quarters, Steve Mandel sold out his position by unloading 752,604 shares of NTES, at an average price of $49.42 for a gain of 25.6%. This trade impacts his portfolio by -0.2%. Mandel’s highest gain was 44.2% in the first quarter of 2011.
The current share price is $62.06 compared to past valuations.
Sold Out: Crown Castle International Corp. (CCI, Financial) – Telecom Services
After 13 quarters of strong gains, Steve Mandel sold out his position by unloading around 2.8 million shares of CCI, at an average price of $71.20 for a gain of 3.5%. This trade impacts his portfolio by -1.3%. Mandel’s highest gain was 310.5% in the fourth quarter of 2008.
The current share price is $73.72 compared to past valuations.
Sold Out: Accretive Health Inc. (AH, Financial) – Health Information Services
After eight losing quarters, Steve Mandel sold out his position by unloading around 5.3 million shares of AH, at an average price of $11.63 for a loss of 4.6%. This trade impacts his portfolio by -0.39%.
The current share price is $11.09 compared to past valuations.
Sold Out: Informatica Corporation (INFA, Financial) – Software - Application
After six mixed quarters, Steve Mandel sold out his position by unloading around 1.8 million shares of INFA, at an average price of $34.95 for a loss of 1.4%. This trade impacts his portfolio by -0.36%.
The current share price is $34.45 compared to past valuations.
The Lone Pine Capital website is closed to the public, but according to GuruFocus research as of May 14, 2013, Steve Mandel’s portfolio has 59 stocks, nine of them new, with a total value of $19.2 billion, and a quarter-over-quarter turnover of 17%.
If you are not a Premium Member, we invite you for a 7-day Free Trial.
The GuruFocus Real Time Picks reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction. This feature is for Premium Members only.
Use the GuruFocus Value Screen to find 52-Week Lows and discover potentially deep value stocks held by billionaire Guru investors.
