Insights from the Latest 13F Filing Reveal Major Moves by the Investment Guru
Steve Mandel (Trades, Portfolio), the investment savant behind Lone Pine Capital, has once again made waves in the financial world with his latest 13F filing for Q4 2023. Mandel, a former Tiger Cub under the legendary Julian Robertson, is renowned for his sharp investment strategies, combining both value and growth investing principles. His firm, named after a resilient tree at Dartmouth College, is a testament to his investment philosophy's endurance and adaptability. With a history of positions in a diverse range of global public equity markets, Mandel's recent moves provide valuable insights for value investors and market enthusiasts alike.
Summary of New Buys
Steve Mandel (Trades, Portfolio)'s portfolio saw the addition of four new stocks in the last quarter. Notably:
- Intuit Inc (INTU, Financial) emerged as the star addition with 748,527 shares, making up 4.05% of the portfolio and valued at $467.85 million.
- Blackstone Inc (BX, Financial) followed, with 2,219,023 shares and a portfolio weight of 2.51%, totaling $290.51 million.
- Philip Morris International Inc (PM, Financial) rounded out the top three, with 3,005,791 shares, accounting for 2.45% of the portfolio and valued at $282.78 million.
Key Position Increases
Mandel also strategically increased his stakes in six companies, with significant boosts to:
- Block Inc (SQ, Financial), where an additional 2,720,123 shares brought the total to 6,606,269 shares, marking a 70% increase and a 1.82% portfolio impact, valued at $510.99 million.
- Bath & Body Works Inc (BBWI, Financial), which saw an increase of 1,742,471 shares, resulting in a total of 10,448,872 shares and a 20.01% increase, valued at $450.97 million.
Summary of Sold Out Positions
The fourth quarter also saw Mandel exit five positions entirely:
- Alphabet Inc (GOOGL, Financial) was completely sold off, with 3,113,001 shares liquidated, impacting the portfolio by -3.93%.
- TransDigm Group Inc (TDG, Financial) also saw a full exit, with 436,740 shares sold, resulting in a -3.55% portfolio impact.
Key Position Reductions
Reductions were made in six holdings, with the most notable being:
- Mastercard Inc (MA, Financial), reduced by 645,552 shares, leading to a -36.97% decrease and a -2.47% portfolio impact. The stock traded at an average price of $401.73 during the quarter.
- Workday Inc (WDAY, Financial), cut by 1,031,749 shares, resulting in a -40% reduction and a -2.14% portfolio impact. The stock's average trading price was $238.09 during the quarter.
Portfolio Overview
As of Q4 2023, Steve Mandel (Trades, Portfolio)'s portfolio comprised 25 stocks, with top holdings including 8.8% in Meta Platforms Inc (META, Financial), 7.18% in Amazon.com Inc (AMZN, Financial), 6.25% in Taiwan Semiconductor Manufacturing Co Ltd (TSM, Financial), 5.89% in Microsoft Corp (MSFT, Financial), and 5.69% in Salesforce Inc (CRM, Financial). The investments are predominantly concentrated in seven industries: Technology, Financial Services, Consumer Cyclical, Communication Services, Healthcare, Consumer Defensive, and Industrials, reflecting Mandel's diverse and strategic market positioning.
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.
