Steve Mandel (Trades, Portfolio), the founder of Lone Pine Capital, has made significant adjustments to his investment portfolio in the third quarter of 2024. Mandel, a seasoned investor with a background in consumer analysis and consulting, leads his firm with a focus on global public equity markets, employing a long/short strategy. His investment philosophy combines fundamental analysis with a mix of value and growth methodologies, aiming for a dynamic portfolio that adapts swiftly to market changes.
During the third quarter, Steve Mandel (Trades, Portfolio) expanded his portfolio by adding nine new stocks. Noteworthy among these new acquisitions are:
-
Salesforce Inc (NYSE:CRM), with 2,337,830 shares, making up 4.77% of the portfolio and valued at $639.89 million.
-
Lennar Corp (NYSE:LEN), comprising 2,927,654 shares and representing about 4.09% of the portfolio, with a total value of $548.88 million.
-
Starbucks Corp (NASDAQ:SBUX), with 4,050,850 shares, accounting for 2.95% of the portfolio and valued at $394.92 million.
Steve Mandel (Trades, Portfolio) also strategically increased his stakes in six stocks, with significant boosts in:
-
Meta Platforms Inc (NASDAQ:META), adding 496,900 shares to bring the total to 1,891,337 shares. This adjustment increased the share count by 35.63%, impacting the current portfolio by 2.12%, and bringing the total value to $1.08 billion.
-
Constellation Energy Corp (NASDAQ:CEG), with an additional 789,278 shares, bringing the total to 2,394,231. This represents a 49.18% increase in share count, with a total value of $622.55 million.
In a significant portfolio adjustment, Steve Mandel (Trades, Portfolio) exited four positions entirely in the third quarter of 2024:
-
Mastercard Inc (NYSE:MA), where all 1,043,557 shares were sold, impacting the portfolio by -3.73%.
-
Bath & Body Works Inc (NYSE:BBWI), with all 11,315,515 shares liquidated, causing a -3.58% impact on the portfolio.
Adjustments were also made to reduce holdings in twelve stocks, with the most substantial reductions in:
-
Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM), reduced by 1,789,337 shares, resulting in a -29.81% decrease and a -2.52% portfolio impact. The stock traded at an average price of $170.4 during the quarter and has seen an 11.31% return over the past three months and an 83.22% year-to-date increase.
-
AppLovin Corp (NASDAQ:APP), reduced by 3,332,572 shares, marking a -58.44% reduction and a -2.25% impact on the portfolio. The stock traded at an average price of $91.24 during the quarter and has returned 235.82% over the past three months and 613.27% year-to-date.
As of the third quarter of 2024, Steve Mandel (Trades, Portfolio)’s portfolio included 29 stocks. The top holdings were 8.08% in Meta Platforms Inc (NASDAQ:META), 7.62% in Amazon.com Inc (NASDAQ:AMZN), 6.02% in Vistra Corp (NYSE:VST), 5.46% in Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM), and 5.31% in Microsoft Corp (NASDAQ:MSFT). The holdings are mainly concentrated in eight of the eleven industries: Technology, Consumer Cyclical, Utilities, Communication Services, Financial Services, Consumer Defensive, Healthcare, and Industrials.
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.
This article first appeared on GuruFocus.
Add Comment