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Lone Pine Capital Update

Sally Jones

Sally Jones

50 followers
Like 15 other billionaires in second quarter trading, Steve Mandel reduced his Google (NASDAQ:GOOG) holding whereas nine other gurus bought or added to their holdings.

Lone Pine Capital’s mega-investor Steve Mandel was actively trading in the second quarter. His updated portfolio has 59 stocks, 12 of them new, with a total value of $20.5 billion, and a quarter-over-quarter turnover of 22%. The updated Lone Pine portfolio is heavily weighted with consumer cyclical at 30% and technology at 9% dropped from 17.9% last quarter. Consumer defensive weighs in at 8.3%.

Here are six of Mandel’s major highlights as of June 30, 2013.

Google Inc. (NASDAQ:GOOG): Reduced

Impact to Portfolio: -1.89%

Up 30% over 12 months, Google Inc.has a market cap of $289.8 billion; its shares were traded at around $870.21, with a P/E of 24.70. The P/B ratio is 3.64.

Track historical pricing:

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Guru Action: As of June 30, 2013, Steve Mandel reduced his position by 32.66%, selling 456,808 shares at an average price of $849.25, for a gain of 2.5%.

He has averaged a gain of 48% on 1,860,110 shares bought at an average price of $589.80 per share. On shares sold, he has averaged a gain of 13% on 918,401 shares sold at an average price of $771.36 per share.

Current shares remaining: 941,709.

Lululemon Athletica Inc. (NASDAQ:LULU)

Impact to Portfolio: -1.7%

Up 11% over 12 months, Lululemon Athletica has a market cap of $8.15 billion; its shares currently trade at around $71.77 with a P/E ratio of 38.80.

Guru Action: As of June 30, 2013, Steve Mandel sold out his LULU position, selling 5,375,131 shares at an average price of $72.51, for a loss of 1%.

Mandel’s highest gain of 42.8% on 4,539,163 shares bought at an average price of $50.26 per share was made in the fourth quarter of 2011.

American International Group Inc. (NYSE:AIG)

Impact to Portfolio: -1.5%

Up 37% over 12 months, American International Group Inc. has a market cap of $69.96 billion; its shares currently trade at around $47.39 with a P/E ratio of 26.70.

Guru Action: As of June 30, 2013, Steve Mandel sold out his AIG position, selling 7,343,600 shares at an average price of $42.90, for a gain of 10.5%. He held for only three quarters total, gaining an average of 39.1% and 25.9% in the fourth quarter of 2012 and the first quarter of 2013, respectively.

Capital One Financial Corp. (NYSE:COF)

Impact to Portfolio: -1.4%

Capital One Financial Corp. has a market cap of $39.02 billion; its shares currently trade at around $66.67 with a P/E ratio of 9.40.

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Guru Action: As of June 30, 2013, Steve Mandel sold out his COF position, selling 5,079,222 shares at an average price of $58.92, for a gain of 13.2%.

Mandel held COF for only three quarters total, gaining an average of 14.1% and 18.8% in the fourth quarter of 2012 and the first quarter of 2013, respectively.

News Corporation (NASDAQ:NWSA)

Impact to Portfolio: -1.32%

Up 0% over 12 months, News Corporation has a market cap of $5.97 billion; its shares currently trade at around $15.75 with a P/S ratio of 0.68.

Guru Action: As of June 30, 2013, Steve Mandel reduced his position by 37.68%, selling 8,318,550 shares at an average price of $15.52, for a gain of 1%.

Current shares remaining are 13,757,775.

TripAdvisor Inc. (NASDAQ:TRIP)

Impact to Portfolio: -1.25%

Up 112% over 12 months, TripAdvisor Inc. has a market cap of $10.28 billion; its shares currently trade at around $71.87 with a P/E ratio of 46.90.

Guru Action: As of June 30, 2013, Steve Mandel reduced his TRIP position by 69.36%, selling 4,510,032 shares at an average price of $57.27, for a gain of 25.5%.

He has averaged a gain of 92% on 6,567,153 shares bought at an average price of $37.39 per share. On shares sold, he has averaged a gain of 26% on 4,575,299 shares sold at an average price of $57.12 per share.

Here is the complete portfolio of Steve Mandel.



The Lone Pine Capital website is closed to the public. Be sure to read:

1. Steve Mandel's Undervalued Stocks

2. Steve Mandel's Top Growth Companies

3. Steve Mandel's High Yield stocks

4. Stocks that Steve Mandel keeps buying

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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 3.0/5 (6 votes)

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