Every quarter, fund managers have to disclose what they've bought and sold. Their latest moves can shine a bright light on smart stock picks.
Today let's look at Lone Pine Capital, founded by Steve Mandel in 1997. Prior to that, Mandel was a managing director at Tiger Management. Lone Pine is one of the biggest hedge fund companies and reportedly beat the S&P 500 for 11 years in a row. Like many value investors, Mandel is known to dig deep into companies, aiming to buy undervalued ones.
Lone Pine Capital's stock portfolio totaled $13.9 billion in value as of Dec. 31, 2011, with 57 holdings. The fund's top three holdings, representing 17% of total assets, are Apple, Google, and priceline.com.
So what does Lone Pine Capital's latest quarterly 13F filing tell us? Here are a few interesting details:
New holdings include Chinese search-engine giant Baidu
Among holdings in which Lone Pine increased its stake was Las Vegas Sands
Lone Pine reduced its stake in lots of companies, including Qualcomm
Finally, Lone Pine unloaded several companies, including Schlumberger
We should never blindly copy any investor's moves, no matter how talented the investor. But it can be useful to keep an eye on what smart folks are doing. 13F forms can be great places to find intriguing candidates for our portfolios.
Top-holding Apple has made huge amounts of money from its iPhone. If the explosive -- and profitable -- world of smartphones and other devices excites you, click into our free special report, "3 Hidden Winners of the iPhone, iPad, and Android Revolution." Learn how you might make a lot of money on the latest electronic devices.Longtime Fool contributor Selena Maranjian, whom you can follow on Twitter here, owns shares of Google, Apple, and Qualcomm, but she holds no other position in any company mentioned. Click here to see her holdings and a short bio. The Motley Fool owns shares of Qualcomm, Apple, and Google. Motley Fool newsletter services have recommended buying shares of priceline.com, Google, Apple, Baidu, Green Mountain Coffee Roasters, and Schlumberger, as well as creating a bull call spread position in Apple and a lurking gator position in Green Mountain Coffee Roasters. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.