Lone Pine is a hedge fund run by Steven Mandel. The fund is a Tiger Cub, as Steven Mandel the CEO was formerly an analyst at Julian Robertson’s Tiger Management. The fund has assets under management close to $16 billion. According to the latest 13-F filled with the SEC, Lone Pine made many different changes in their portfolio. We will look at the top holdings.
Largest Holdings:
The tech giant, Apple Inc. (NASDAQ:AAPL) is the largest holding. Lone Pine owns 1.4 million shares of Apple Inc. (NASDAQ:AAPL). It increased its stake in the company by 13% in the second quarter at an average price of $584 a share.
The search engine king, Google Inc (NASDAQ:GOOG) is the fund’s second largest holding. Lone Pine owns 1.3 million shares of Google Inc (NASDAQ:GOOG). Lone Pine increased its stake in the company by 2% in the second quarter, at an average price of $580 a share. Google Inc (NASDAQ:GOOG) makes up 5% of the company’s assets reported on the 13F.
The online travel website, Priceline.com Inc (NASDAQ:PCLN) is the fund’s third largest holding. Lone Pine owns 1.1 million shares of Priceline.com Inc (NASDAQ:PCLN). Lone Pine increased its stake in the company by over 4% in the second quarter, at an average price of $665 a share.
The Agricultural Chemicals company, Monsanto Company (NYSE:MON), is the fund’s fourth largest holding. Lone Pine owns 8 million shares of Monsanto Company (NYSE:MON). Lone Pine increased its stake by over 23% in the second quarter, at an average price of $84 a share. Monsanto Company (NYSE:MON) makes up over 4% of the hedge fund’s stated assets.
Ralph Lauren Corp (NYSE:RL) is the 5th largest holding. Lone Pine holds 4.4 million shares of the retailer, which were purchased at an average price of $27. The fund boosted its stake in Ralph Lauren Corp (NYSE:RL) by 45% in Q2.
The Gap Inc. (NYSE:GPS) is the sixth largest holding. Lone Pine nearly doubled its stake in The Gap Inc. (NYSE:GPS) during the quarter.
Sales:
Lone Pine sold out of several large stakes the company held in the first quarter. Lone Pine dumped their entire 6% stake in El Paso LLC (NYSE:EP). They also sold off their 3% stake in Las Vegas Sands Corp.(NYSE:LVS). Other stakes they entirely sold out, include Green Mountain Coffee Roasters Inc.(NASDAQ:GMCR), Wynn Resorts, Limited (NASDAQ:WYNN), Fossil, Inc. (NASDAQ:FOSL), and Liberty Media Corp (Capital) (NASDAQ:LMCA).
Disclosure: No position in any companies mentioned
