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Viking Global Performance LLC – ‘SC 13G’ on 12/17/10 re: Estee Lauder Companies Inc

On: Friday, 12/17/10, at 2:13pm ET · Accession #: 1103804-10-14 · File #: 5-48157

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

12/17/10  Viking Global Performance LLC     SC 13G                 1:32K  Estee Lauder Companies Inc        Viking Global Invest… LP

Statement of Beneficial Ownership — Schedule 13G
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13G      Statement of Beneficial Ownership                     16     61K

Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (Word, et al.) Identification and Classification of Members of the Group Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company IF THIS STATEMENT IS FILED PURSUANT TO 13d-1(b) OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: NAME OF ISSUER: The Estee Lauder Companies Inc Notice of Dissolution of Group Ownership TITLE OF CLASS OF SECURITIES: Class A Common Stock, par value $.01 (the "Common Stock")
1	1st Page - Filing Submission
12	Item 1(a). NAME OF ISSUER: The Estee Lauder Companies Inc
"	Item 2(d). TITLE OF CLASS OF SECURITIES: Class A Common Stock, par value $.01 (the "Common Stock")
"	Item 3. IF THIS STATEMENT IS FILED PURSUANT TO 13d-1(b) OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
13	Item 4. Ownership
15	Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company
"	Item 8. Identification and Classification of Members of the Group
"	Item 9. Notice of Dissolution of Group

SC 13G 1st Page of 16 TOC ↑Top Previous Next ↓Bottom Just 1st
 
SC 13G                                                                          

VIKING GLOBAL PERFORMANCE LLC                                                   
VIKING GLOBAL INVESTORS LP                                                      
VIKING GLOBAL EQUITIES LP                                                       
VIKING GLOBAL EQUITIES II LP                                                    
VGE III PORTFOLIO LTD.                                                          
VIKING LONG FUND GP LLC                                                         
VIKING LONG FUND MASTER LTD.                                                    
O. ANDREAS HALVORSEN                                                            
DAVID C. OTT                                                                    
THOMAS W. PURCELL, JR.                                                          

NYSE                                                                            

0001001250                                                                      
The Estee Lauder Companies Inc.                                                 
11-2408943                                                                      

Eric Komitee                                                                    
203-863-5062                                                                    

0001132625                                                                      
vgp#55vgp                                                                       

SC 13G                                                                          

viking1.txt                                                                     

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________

Schedule 13G
(Rule 13d-102)
________________

INFORMATION TO BE INCLUDED IN STATEMENTS PURSUANT TO RULES 13d-1(b),(c)         
  AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934*    

   The Estee Lauder Companies Inc.
  (Name of Issuer)

  Common Stock - Class A
(Title of Class of Securities)

   518439104
  (CUSIP Number)

  December 7, 2010
(Date of Event Which Requires Filing of this Statement)     

Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:                                                              
[ ]    Rule 13d-1(b)                                                  
[X]    Rule 13d-1(c)                                                  
[ ]    Rule 13d-1(d)                                                  

___________                                                                     

 *  The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of       
securities, and for any subsequent amendment containing information which       
would alter the disclosures provided in a prior cover page.                     

The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities         
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that    
section of the Act but shall be subject to all other provisions of the Act      
(however, see the Notes).                                                       

SC 13G 2nd Page of 16 TOC 1st Previous Next ↓Bottom Just 2nd
Schedule 13G                                                 PAGE 2 of 16       

CUSIP No. 518439104                                                             
_____________________________________________________________________________   
(1)  NAME OF REPORTING PERSON                                         
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON           
Viking Global Investors LP                        
_____________________________________________________________________________   
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                 
                                                                (a)  [ ]
                                                                (b)  [x]
_____________________________________________________________________________   
(3)  SEC USE ONLY                                                     

_____________________________________________________________________________   
(4)  CITIZENSHIP OR PLACE OF ORGANIZATION                             
Delaware                                          
_____________________________________________________________________________   

NUMBER OF      (5)  SOLE VOTING POWER                                           
0                                           
SHARES         ______________________________________________________________   

BENEFICIALLY   (6)  SHARED VOTING POWER                                         
6,158,041                               
OWNED BY       ______________________________________________________________   

EACH           (7)  SOLE DISPOSITIVE POWER                                      
0                                       
REPORTING      ______________________________________________________________   

PERSON WITH    (8)  SHARED DISPOSITIVE POWER                                    
6,158,041                               
_____________________________________________________________________________   
(9)  AGGREGATE AMOUNT BENEFICIALLY OWNED                              
BY EACH REPORTING PERSON                                    
6,158,041                                                   
_____________________________________________________________________________   
(10)  CHECK BOX IF THE AGGREGATE AMOUNT                                 
      IN ROW (9) EXCLUDES CERTAIN SHARES                             [ ]
_____________________________________________________________________________   
(11)  PERCENT OF CLASS REPRESENTED                                      
BY AMOUNT IN ROW (9)                                        
5.2%                                                        
_____________________________________________________________________________   
(12)  TYPE OF REPORTING PERSON                                          
PN                                                
_____________________________________________________________________________   

SC 13G 3rd Page of 16 TOC 1st Previous Next ↓Bottom Just 3rd
Schedule 13G                                                  PAGE 3 of 16      

CUSIP No. 518439104                                                             
_____________________________________________________________________________   
(1)  NAME OF REPORTING PERSON                                         
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON           
Viking Global Performance LLC                     
_____________________________________________________________________________   
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                 
                                                                (a)  [ ]
                                                                (b)  [x]
_____________________________________________________________________________   
(3)  SEC USE ONLY                                                     

_____________________________________________________________________________   
(4)  CITIZENSHIP OR PLACE OF ORGANIZATION                             
Delaware                                          
_____________________________________________________________________________   

NUMBER OF      (5)  SOLE VOTING POWER                                           
0                                       
SHARES         ______________________________________________________________   

BENEFICIALLY   (6)  SHARED VOTING POWER                                         
5,822,641                               
OWNED BY       ______________________________________________________________   

EACH           (7)  SOLE DISPOSITIVE POWER                                      
0                                       
REPORTING      ______________________________________________________________   

PERSON WITH    (8)  SHARED DISPOSITIVE POWER                                    
5,822,641                               
_____________________________________________________________________________   
(9)  AGGREGATE AMOUNT BENEFICIALLY OWNED                              
BY EACH REPORTING PERSON                                    
5,822,641                                                   
_____________________________________________________________________________   
(10)  CHECK BOX IF THE AGGREGATE AMOUNT                                 
      IN ROW (9) EXCLUDES CERTAIN SHARES                             [ ]
_____________________________________________________________________________   
(11)  PERCENT OF CLASS REPRESENTED                                      
BY AMOUNT IN ROW (9)                                        
4.9%                                                        
_____________________________________________________________________________   
(12)  TYPE OF REPORTING PERSON                                          
OO                                                
_____________________________________________________________________________   

SC 13G 4th Page of 16 TOC 1st Previous Next ↓Bottom Just 4th
Schedule 13G                                                   PAGE 4 of 16     

CUSIP No. 518439104                                                             
_____________________________________________________________________________   
(1)  NAME OF REPORTING PERSON                                         
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON           
Viking Global Equities LP                         
_____________________________________________________________________________   
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                 
                                                                (a)  [ ]
                                                                (b)  [x]
_____________________________________________________________________________   
(3)  SEC USE ONLY                                                     

_____________________________________________________________________________   
(4)  CITIZENSHIP OR PLACE OF ORGANIZATION                             
Delaware                                          
_____________________________________________________________________________   

NUMBER OF      (5)  SOLE VOTING POWER                                           
0                                       
SHARES         ______________________________________________________________   

BENEFICIALLY   (6)  SHARED VOTING POWER                                         
2,003,100                               
OWNED BY       ______________________________________________________________   

EACH           (7)  SOLE DISPOSITIVE POWER                                      
0                                       
REPORTING      ______________________________________________________________   

PERSON WITH    (8)  SHARED DISPOSITIVE POWER                                    
2,003,100                               
_____________________________________________________________________________   
(9)  AGGREGATE AMOUNT BENEFICIALLY OWNED                              
BY EACH REPORTING PERSON                                    
2,003,100                                                   
_____________________________________________________________________________   
(10)  CHECK BOX IF THE AGGREGATE AMOUNT                                 
      IN ROW (9) EXCLUDES CERTAIN SHARES                             [ ]
_____________________________________________________________________________   
(11)  PERCENT OF CLASS REPRESENTED                                      
BY AMOUNT IN ROW (9)                                        
1.7%                                                        
_____________________________________________________________________________   
(12)  TYPE OF REPORTING PERSON                                          
PN                                                
_____________________________________________________________________________   

SC 13G 5th Page of 16 TOC 1st Previous Next ↓Bottom Just 5th
Schedule 13G                                                 PAGE 5 of 16       

CUSIP No. 518439104                                                             
_____________________________________________________________________________   
(1)  NAME OF REPORTING PERSON                                         
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON           
Viking Global Equities II LP                      
_____________________________________________________________________________   
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                 
                                                                (a)  [ ]
                                                                (b)  [x]
_____________________________________________________________________________   
(3)  SEC USE ONLY                                                     

_____________________________________________________________________________   
(4)  CITIZENSHIP OR PLACE OF ORGANIZATION                             
Delaware                                          
_____________________________________________________________________________   

NUMBER OF      (5)  SOLE VOTING POWER                                           
0                                       
SHARES         ______________________________________________________________   

BENEFICIALLY   (6)  SHARED VOTING POWER                                         
116,300                                 
OWNED BY       ______________________________________________________________   

EACH           (7)  SOLE DISPOSITIVE POWER                                      
0                                       
REPORTING      ______________________________________________________________   

PERSON WITH    (8)  SHARED DISPOSITIVE POWER                                    
116,300                                 
_____________________________________________________________________________   
(9)  AGGREGATE AMOUNT BENEFICIALLY OWNED                              
BY EACH REPORTING PERSON                                    
116,300                                                     
_____________________________________________________________________________   
(10)  CHECK BOX IF THE AGGREGATE AMOUNT                                 
      IN ROW (9) EXCLUDES CERTAIN SHARES                             [ ]
_____________________________________________________________________________   
(11)  PERCENT OF CLASS REPRESENTED                                      
BY AMOUNT IN ROW (9)                                        
.1%                                                         
_____________________________________________________________________________   
(12)  TYPE OF REPORTING PERSON                                          
PN                                                
_____________________________________________________________________________   

SC 13G 6th Page of 16 TOC 1st Previous Next ↓Bottom Just 6th
Schedule 13G                                                 PAGE 6 of 16       

CUSIP No. 518439104                                                             
_____________________________________________________________________________   
(1)  NAME OF REPORTING PERSON                                         
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON           
VGE III Portfolio Ltd.                            
_____________________________________________________________________________   
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                 
                                                                (a)  [ ]
                                                                (b)  [x]
_____________________________________________________________________________   
(3)  SEC USE ONLY                                                     

_____________________________________________________________________________   
(4)  CITIZENSHIP OR PLACE OF ORGANIZATION                             
Cayman Islands                                    
_____________________________________________________________________________   

NUMBER OF      (5)  SOLE VOTING POWER                                           
0                                       
SHARES         ______________________________________________________________   

BENEFICIALLY   (6)  SHARED VOTING POWER                                         
3,703,241                               
OWNED BY       ______________________________________________________________   

EACH           (7)  SOLE DISPOSITIVE POWER                                      
0                                       
REPORTING      ______________________________________________________________   

PERSON WITH    (8)  SHARED DISPOSITIVE POWER                                    
3,703,241                               
_____________________________________________________________________________   
(9)  AGGREGATE AMOUNT BENEFICIALLY OWNED                              
BY EACH REPORTING PERSON                                    
3,703,241                                                   
_____________________________________________________________________________   
(10)  CHECK BOX IF THE AGGREGATE AMOUNT                                 
      IN ROW (9) EXCLUDES CERTAIN SHARES                             [ ]
_____________________________________________________________________________   
(11)  PERCENT OF CLASS REPRESENTED                                      
BY AMOUNT IN ROW (9)                                        
3.1%                                                        
_____________________________________________________________________________   
(12)  TYPE OF REPORTING PERSON                                          
OO                                                
_____________________________________________________________________________   

SC 13G 7th Page of 16 TOC 1st Previous Next ↓Bottom Just 7th
Schedule 13G                                                  PAGE 7 of 16      

CUSIP No. 518439104                                                             
_____________________________________________________________________________   
(1)  NAME OF REPORTING PERSON                                         
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON           
Viking Long Fund GP LLC                           
_____________________________________________________________________________   
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                 
                                                                (a)  [ ]
                                                                (b)  [x]
_____________________________________________________________________________   
(3)  SEC USE ONLY                                                     

_____________________________________________________________________________   
(4)  CITIZENSHIP OR PLACE OF ORGANIZATION                             
Delaware                                          
_____________________________________________________________________________   

NUMBER OF      (5)  SOLE VOTING POWER                                           
0                                           
SHARES         ______________________________________________________________   

BENEFICIALLY   (6)  SHARED VOTING POWER                                         
335,400                                 
OWNED BY       ______________________________________________________________   

EACH           (7)  SOLE DISPOSITIVE POWER                                      
0                                       
REPORTING      ______________________________________________________________   

PERSON WITH    (8)  SHARED DISPOSITIVE POWER                                    
335,400                                 
_____________________________________________________________________________   
(9)  AGGREGATE AMOUNT BENEFICIALLY OWNED                              
BY EACH REPORTING PERSON                                    
335,400                                                     
_____________________________________________________________________________   
(10)  CHECK BOX IF THE AGGREGATE AMOUNT                                 
      IN ROW (9) EXCLUDES CERTAIN SHARES                             [ ]
_____________________________________________________________________________   
(11)  PERCENT OF CLASS REPRESENTED                                      
BY AMOUNT IN ROW (9)                                        
.3%                                                         
_____________________________________________________________________________   
(12)  TYPE OF REPORTING PERSON                                          
OO                                                  
_____________________________________________________________________________   

SC 13G 8th Page of 16 TOC 1st Previous Next ↓Bottom Just 8th
Schedule 13G                                                  PAGE 8 of 16      

CUSIP No. 518439104                                                             
_____________________________________________________________________________   
(1)  NAME OF REPORTING PERSON                                         
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON           
Viking Long Fund Master Ltd.                        
_____________________________________________________________________________   
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                 
                                                                (a)  [ ]
                                                                (b)  [x]
_____________________________________________________________________________   
(3)  SEC USE ONLY                                                     

_____________________________________________________________________________   
(4)  CITIZENSHIP OR PLACE OF ORGANIZATION                             
Cayman Islands                                    
_____________________________________________________________________________   

NUMBER OF      (5)  SOLE VOTING POWER                                           
0                                       
SHARES         ______________________________________________________________   

BENEFICIALLY   (6)  SHARED VOTING POWER                                         
335,400                                 
OWNED BY       ______________________________________________________________   

EACH           (7)  SOLE DISPOSITIVE POWER                                      
0                                       
REPORTING      ______________________________________________________________   

PERSON WITH    (8)  SHARED DISPOSITIVE POWER                                    
335,400                                 
_____________________________________________________________________________   
(9)  AGGREGATE AMOUNT BENEFICIALLY OWNED                              
BY EACH REPORTING PERSON                                    
335,400                                                     
_____________________________________________________________________________   
(10)  CHECK BOX IF THE AGGREGATE AMOUNT                                 
      IN ROW (9) EXCLUDES CERTAIN SHARES                             [ ]
_____________________________________________________________________________   
(11)  PERCENT OF CLASS REPRESENTED                                      
BY AMOUNT IN ROW (9)                                        
.3%                                                         
_____________________________________________________________________________   
(12)  TYPE OF REPORTING PERSON                                          
CO                                                
_____________________________________________________________________________   

SC 13G 9th Page of 16 TOC 1st Previous Next ↓Bottom Just 9th
Schedule 13G                                                  PAGE 9 of 16      

CUSIP No. 518439104                                                             
_____________________________________________________________________________   
(1)  NAME OF REPORTING PERSON                                         
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON           
O. Andreas Halvorsen                              
_____________________________________________________________________________   
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                 
                                                                (a)  [ ]
                                                                (b)  [x]
_____________________________________________________________________________   
(3)  SEC USE ONLY                                                     

_____________________________________________________________________________   
(4)  CITIZENSHIP OR PLACE OF ORGANIZATION                             
Norway                                                      
_____________________________________________________________________________   

NUMBER OF      (5)  SOLE VOTING POWER                                           
0                                       
SHARES         ______________________________________________________________   

BENEFICIALLY   (6)  SHARED VOTING POWER                                         
6,158,041                               
OWNED BY       ______________________________________________________________   

EACH           (7)  SOLE DISPOSITIVE POWER                                      
0                                       
REPORTING      ______________________________________________________________   

PERSON WITH    (8)  SHARED DISPOSITIVE POWER                                    
6,158,041                             
_____________________________________________________________________________   
(9)  AGGREGATE AMOUNT BENEFICIALLY OWNED                              
BY EACH REPORTING PERSON                                    
6,158,041                                                   
_____________________________________________________________________________   
(10)  CHECK BOX IF THE AGGREGATE AMOUNT                                 
      IN ROW (9) EXCLUDES CERTAIN SHARES                             [ ]
_____________________________________________________________________________   
(11)  PERCENT OF CLASS REPRESENTED                                      
BY AMOUNT IN ROW (9)                                        
5.2%                                                        
_____________________________________________________________________________   
(12)  TYPE OF REPORTING PERSON                                          
IN                                                
_____________________________________________________________________________   

SC 13G 10th Page of 16 TOC 1st Previous Next ↓Bottom Just 10th
Schedule 13G                                                  PAGE 10 of 16     

CUSIP No. 518439104                                                             
_____________________________________________________________________________   

(1)  NAME OF REPORTING PERSON                                         
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON           
David C. Ott                                      
_____________________________________________________________________________   

(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                 
                                                                (a)  [ ]
                                                                (b)  [x]
_____________________________________________________________________________   

(3)  SEC USE ONLY                                                     
_____________________________________________________________________________   

(4)  CITIZENSHIP OR PLACE OF ORGANIZATION                             
United States                                               
_____________________________________________________________________________   

NUMBER OF      (5)  SOLE VOTING POWER                                           
0                                       
SHARES         ______________________________________________________________   

BENEFICIALLY   (6)  SHARED VOTING POWER                                         
6,158,041                             
OWNED BY       ______________________________________________________________   

EACH           (7)  SOLE DISPOSITIVE POWER                                      
0                                       
REPORTING      ______________________________________________________________   

PERSON WITH    (8)  SHARED DISPOSITIVE POWER                                    
6,158,041                               
_____________________________________________________________________________   
(9)  AGGREGATE AMOUNT BENEFICIALLY OWNED                              
BY EACH REPORTING PERSON                                    
6,158,041                                                   
_____________________________________________________________________________   
(10)  CHECK BOX IF THE AGGREGATE AMOUNT                                 
      IN ROW (9) EXCLUDES CERTAIN SHARES                             [ ]
_____________________________________________________________________________   
(11)  PERCENT OF CLASS REPRESENTED                                      
BY AMOUNT IN ROW (9)                                        
5.2%                                                        
_____________________________________________________________________________   
(12)  TYPE OF REPORTING PERSON                                          
IN                                                
_____________________________________________________________________________   

SC 13G 11th Page of 16 TOC 1st Previous Next ↓Bottom Just 11th
Schedule 13G                                                 PAGE 11 of 16      

CUSIP No. 518439104                                                             
_____________________________________________________________________________   
(1)  NAME OF REPORTING PERSON                                         
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON           
Thomas W. Purcell, Jr.                            
_____________________________________________________________________________   

(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                 
                                                                (a)  [ ]
                                                                (b)  [x]
_____________________________________________________________________________   

(3)  SEC USE ONLY                                                     
_____________________________________________________________________________   

(4)  CITIZENSHIP OR PLACE OF ORGANIZATION                             
United States                                               
_____________________________________________________________________________   

NUMBER OF      (5)  SOLE VOTING POWER                                           
0                                       
SHARES         ______________________________________________________________   

BENEFICIALLY   (6)  SHARED VOTING POWER                                         
6,158,041                               
OWNED BY       ______________________________________________________________   

EACH           (7)  SOLE DISPOSITIVE POWER                                      
0                                       
REPORTING      ______________________________________________________________   

PERSON WITH    (8)  SHARED DISPOSITIVE POWER                                    
6,158,041                               
_____________________________________________________________________________   
(9)  AGGREGATE AMOUNT BENEFICIALLY OWNED                              
BY EACH REPORTING PERSON                                    
6,158,041                                                   
_____________________________________________________________________________   
(10)  CHECK BOX IF THE AGGREGATE AMOUNT                                 
      IN ROW (9) EXCLUDES CERTAIN SHARES                             [ ]
_____________________________________________________________________________   
(11)  PERCENT OF CLASS REPRESENTED                                      
BY AMOUNT IN ROW (9)                                        
5.2%                                                  
_____________________________________________________________________________   
(12)  TYPE OF REPORTING PERSON                                          
IN                                                
_____________________________________________________________________________   

SC 13G 12th Page of 16 TOC 1st Previous Next ↓Bottom Just 12th
Schedule 13G                                                 PAGE 12 of 16      

ITEM 1(a).  NAME OF ISSUER:                                                     
The Estee Lauder Companies Inc.                       

ITEM 1(b).  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:                    
767 Fifth Avenue, New York, NY 10153                    

ITEM 2(a). NAME OF PERSON FILING:                                               
Viking Global Performance LLC ("VGP"),                      
Viking Global Investors LP ("VGI"),                         
Viking Global Equities LP ("VGE"),                          
Viking Global Equities II LP ("VGEII"),                     
VGE III Portfolio Ltd ("VGEIII")                            
Viking Long Fund GP LLC ("VLFGP")                           
Viking Long Fund Master Ltd. ("VLFM")                       
O. Andreas Halvorsen, David C. Ott and                      
  Thomas W. Purcell, Jr. (collectively, the "Reporting Persons")

ITEM 2(b).  ADDRESS OF PRINCIPAL OFFICE OR, IF NONE, RESIDENCE:                 
      The business address of each of the Reporting Persons is
55 Railroad Avenue, Greenwich, CT 06830.          

ITEM 2(c).  CITIZENSHIP:                                                        
VGE, VGEII and VGI are Delaware limited partnerships,VGEIII and VLFM            
are Cayman Island exempted companies, and VGP and VLFGP are both Delaware       
limited liability companies. O. Andreas Halvorsen is a citizen of Norway.       
David C. Ott and Thomas W. Purcell, Jr. are citizens of the United States.      

ITEM 2(d).  TITLE OF CLASS OF SECURITIES:                                       
             Class A Common Stock, par value $.01 (the "Common Stock")

ITEM 2(e).  CUSIP NUMBER:  518439104                                            

ITEM 3.  IF THIS STATEMENT IS FILED PURSUANT TO 13d-1(b) OR 13d-2(b) OR (c),    
CHECK WHETHER THE PERSON FILING IS A:                                           

 (a) [ ]   Broker or dealer registered under Section 15 of the
Act                                     

(b) [ ]   Bank as defined in Section 3(a)(6) of the Act     

 (c) [ ]   Insurance Company as defined in Section 3(a)(19) of
the Act                                 

  (d) [ ]   Investment Company registered under Section 8 of the
Investment Company Act of 1940          

    (e) [ ]   Investment Adviser registered under Section 203 of the
      Investment Advisers Act of 1940: see Rule 13d-
1(b)(1)(ii)(E)                          

  (f) [ ]   Employee Benefit Plan, Pension Fund which is subject
           to the provisions of the Employee Retirement Income
             Security Act of 1974 or Endowment Fund; see Rule 13d-
1(b)(1)(ii)(F)                          

SC 13G 13th Page of 16 TOC 1st Previous Next ↓Bottom Just 13th
Schedule 13G                                               PAGE 13 of 16        

  (g) [ ]   Parent Holding Company, in accordance with Rule 13d-
1(b)(ii)(G);                            

    (h) [ ]   Savings Associations as defined in Section 3(b) of the
Federal Deposit Insurance Act;          

    (i) [ ]   Church Plan that is excluded from the definition of an
        investment company under Section 3(c)(14) of the
Investment Company Act of 1940;         

(j) [ ]  A non-U.S. institution in accordance with          
Rule 240.13d-1(b)(1)(ii)(J)               

   (K) [ ]  Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
            If filing as a non-U.S. institution in accordance with
 Rule 240.13d-1(b)(1)(ii)(J), please specify
the type of institution:                  

ITEM 4.   OWNERSHIP.                                                            

A.  VGI                                                               
(a)  Amount beneficially owned 6,158,041                    
(b)  Percent of class: 5.2%                                 
             The percentages used herein and in this Item 4 are calculated based
              upon the Company's Quarterly Report for the quarterly period ended
              September 30, 2010 filed on Form 10-Q on November 1, 2010, which
              states that as of October 21, 2010 there were 119,047,044 shares
of Common Stock outstanding.                      

(c)  Number of shares as to which such person has:          
   (i)    sole power to vote or to direct the vote
0                             
     (ii)   shared power to vote or to direct the vote
6,158,041                     
             (iii)  sole power to dispose or to direct the disposition
of 0                          
               (iv)   shared power to dispose or to direct the disposition
of 6,158,041                  

VGI provides managerial services to VGE, VGEII,VGEIII and VLFM. 
        VGI has the authority to dispose of and vote the shares of Common Stock.

      Based on Rule 13d-3 of the Securities Exchange Act of 1934, as amended
       (the "Act"), VGI may be deemed to beneficially own the shares of Common
       Stock directly held by VGE, VGEII, VGEIII and VLFM. VGI does not directly
own any shares of Common Stock.                                 

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Schedule 13G                                               PAGE 14 of 16        

B.  VGP                                                               
(a)  Amount beneficially owned: 5,822,641                   
(b)  Percent of class: 4.9%                                 
(c)  Number of shares as to which such person has:          
   (i)    sole power to vote or to direct the vote
0                             
     (ii)   shared power to vote or to direct the vote
5,822,641                     
             (iii)  sole power to dispose or to direct the disposition
of 0                          
               (iv)   shared power to dispose or to direct the disposition
of 5,822,641                  

         VGP, as the general partner of VGE and VGEII, has the
               authority to dispose of and vote the shares of Common Stock
              directly owned by VGE and VGEII.  VGP serves as investment
                  manager to VGEIII and has the authority to dispose of and vote
                  the shares of Common Stock directly owned by VGEIII.  VGP does
not directly own any shares of Common Stock.

 Based on Rule 13d-3 of the Act, VGP may be deemed to beneficially
      own the shares of Common Stock directly held by VGE, VGEII and VGEIII.

C.  VLFGP                                                             
(a)  Amount beneficially owned: 335,400                     
(b)  Percent of class: .3%                                  
(c)  Number of shares as to which such person has:          
   (i)    sole power to vote or to direct the vote
0                             
     (ii)   shared power to vote or to direct the vote
335,400                       
             (iii)  sole power to dispose or to direct the disposition
of 0                          
               (iv)   shared power to dispose or to direct the disposition
of 335,400                    

               VLFGP, serves as the investment manager of VLFM and has the
               authority to dispose of and vote the shares of Common Stock
        directly owned by VLFM.  VLFGP does not directly own
any shares of Common Stock.                 

   Based on Rule 13d-3 of the Act, VLFGP may be deemed to beneficially
own the shares of Common Stock directly held by VLFM.           

D.  VGE                                                               
(a)  Amount beneficially owned: 2,003,100                   
(b)  Percent of class: 1.7%                                 
(c)  Number of shares as to which such person has:          
   (i)    sole power to vote or to direct the vote
0                             
     (ii)   shared power to vote or to direct the vote
2,003,100                     
             (iii)  sole power to dispose or to direct the disposition
of 0                          
               (iv)   shared power to dispose or to direct the disposition
of 2,003,100                  

             VGE has the authority to dispose of and vote the shares
              of Common Stock directly owned by it, which power may be
           exercised by its general partner, VGP, and by VGI, an
                 affiliate of VGP, that provides managerial services to VGE.

E.  VGE II                                                                
(a)  Amount beneficially owned: 116,300                     
(b)  Percent of class: .1%                                  
(c)  Number of shares as to which such person has:          
   (i)    sole power to vote or to direct the vote
0                             
     (ii)   shared power to vote or to direct the vote
116,300                     
             (iii)  sole power to dispose or to direct the disposition
of 0                          
               (iv)   shared power to dispose or to direct the disposition
of 116,300                    

               VGEII has the authority to dispose of and vote the shares
              of Common Stock directly owned by it, which power may be
          exercised by its general partner, VGP and by VGI, an
                  affiliate of VGP, which provides managerial services to VGEII.

F.  VGEIII                                                                
(a)  Amount beneficially owned: 3,703,241                   
(b)  Percent of class: 3.1%                                 
(c)  Number of shares as to which such person has:          
   (i)    sole power to vote or to direct the vote
0                             
     (ii)   shared power to vote or to direct the vote
3,703,241                   
             (iii)  sole power to dispose or to direct the disposition
of 0                          
               (iv)   shared power to dispose or to direct the disposition
of 3,703,241                  

                VGEIII has the authority to dispose of and vote the shares
              of Common Stock directly owned by it, which power may be
             exercised by its investment manager, VGP and by VGI, an
                 affiliate of VGP, which provides managerial services to VGEIII.
                Viking Global Equities III Ltd. (a Cayman Islands exempted
      company) invests substantially all of its assets
through VGEIII.                           

G.  VLFM                                                                  
(a)  Amount beneficially owned: 335,400                     
(b)  Percent of class: .3%                                  
(c)  Number of shares as to which such person has:          
   (i)    sole power to vote or to direct the vote
0                             
     (ii)   shared power to vote or to direct the vote
335,400                     
             (iii)  sole power to dispose or to direct the disposition
of 0                          
               (iv)   shared power to dispose or to direct the disposition
of 335,400                    

       VLFM has the authority to dispose of and vote the
                  shares of Common Stock directly owned by it, which power may
               be exercised by its investment manager, VLFGP and by VGI,
               an affiliate of VLFGP, which provides managerial services
                   to VLFM. Viking Long Fund LP (a Delaware limited partnership)
              and Viking Long Fund III Ltd. (a Cayman Islands exempted
         company),through its investment in Viking Long Fund
             Intermediate LP (a Cayman Islands limited partnership),
            invest substantially all of their assets through VLFM.

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Schedule 13G                                                PAGE 15 of 16       

H.  O. Andreas Halvorsen, David C. Ott and Thomas W. Purcell, Jr.         
(a)  Amount beneficially owned: 6,158,041                       
(b)  Percent of class: 5.2%                                     
(c)  Number of shares as to which such person has:              
   (i)    sole power to vote or to direct the vote
0                             
     (ii)   shared power to vote or to direct the vote
6,158,041                     
             (iii)  sole power to dispose or to direct the disposition
of 0                          
               (iv)   shared power to dispose or to direct the disposition
of 6,158,041                  

Messrs. Halvorsen, Ott, and Purcell, as                         
Executive Committee Members of VGI, VGP, and VLFGP, have shared 
authority to dispose of and vote the shares of Common Stock     
     beneficially owned by VGI, VGP and VLFGP.  None of Messrs. Halvorsen,
Ott and Purcell directly owns any shares of Common Stock.       

  Based on Rule 13d-3 of the Act, each may be deemed to beneficially
   own the shares of Common Stock directly held by VGE, VGE II, VGEIII and VLFM.

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.                           
If this statement is being filed to report the fact that as of the  
date hereof the Reporting Persons has ceased to be the beneficial owner         
of more than five percent of the class of securities,                           
check the following.[]                                                          

ITEM 6.   OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.      
Yes, see Item 4.                                            

ITEM 7.   IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED    
 THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not applicable.                                             

ITEM 8.   IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.            
Not applicable.                                             

ITEM 9.   NOTICE OF DISSOLUTION OF GROUP.                                       
Not applicable.                                             

ITEM 10.  CERTIFICATION.  (if filing pursuant to Rule 13d-1(c))                 
By signing below each Reporting Person certifies that, to the best    
of its knowledge and belief, the securities referred to above were not          
acquired and are not held for the purpose of or with the effect of changing     
or influencing the control of the issuer of the securities and were not         
acquired and not held in connection with or as a participant in any             
transaction having that purpose or effect.                                      

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Schedule 13G                                             PAGE 16 of 16          

SIGNATURES                                                                      

 After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is     
true, complete and correct.                                                     

DATED: December 17, 2010                                                        
/s/ O. ANDREAS HALVORSEN        
           By: O. Andreas Halvorsen - individually and
   as an Executive Committee Member of
        VIKING GLOBAL PERFORMANCE LLC, on behalf
        of itself and VIKING GLOBAL EQUITIES LP,
                   VIKING GLOBAL EQUITIES II LP,VGE III PORTFOLIO LTD.
       and as an Executive Committee Member of
        Viking Global Partners LLC, on behalf of
  VIKING GLOBAL INVESTORS LP, and as
an Executive Committee Member of
           VIKING LONG FUND GP LLC on behalf of itself
and VIKING LONG FUND MASTER LTD.

/s/ DAVID C. OTT                
  By: David C. Ott- individually and
   as an Executive Committee Member of
        VIKING GLOBAL PERFORMANCE LLC, on behalf
        of itself and VIKING GLOBAL EQUITIES LP,
                   VIKING GLOBAL EQUITIES II LP,VGE III PORTFOLIO LTD.
       and as an Executive Committee Member of
        Viking Global Partners LLC, on behalf of
  VIKING GLOBAL INVESTORS LP, and as
an Executive Committee Member of
           VIKING LONG FUND GP LLC on behalf of itself
and VIKING LONG FUND MASTER LTD.

/s/ THOMAS W. PURCELL, JR.      
            By: Thomas W. Purcell, Jr.- individually and
   as an Executive Committee Member of
        VIKING GLOBAL PERFORMANCE LLC, on behalf
        of itself and VIKING GLOBAL EQUITIES LP,
                   VIKING GLOBAL EQUITIES II LP,VGE III PORTFOLIO LTD.
       and as an Executive Committee Member of
        Viking Global Partners LLC, on behalf of
  VIKING GLOBAL INVESTORS LP, and as
an Executive Committee Member of
           VIKING LONG FUND GP LLC on behalf of itself
and VIKING LONG FUND MASTER LTD.

2078839.1

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Dates Referenced Herein and Documents Incorporated by Reference

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Filed on:	12/17/10	16		8-K/A
	12/7/10	1		4
	11/1/10	13		10-Q, 4
	10/21/10	13
	9/30/10	13		10-Q
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Filing Submission 0001103804-10-000014 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Viking Global Performance LLC – ‘SC 13G’ on 12/17/10 re: Estee Lauder Companies Inc

On: Friday, 12/17/10, at 2:13pm ET · Accession #: 1103804-10-14 · File #: 5-48157

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Statement of Beneficial Ownership — Schedule 13GFiling Table of Contents

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Statement of Beneficial Ownership — Schedule 13G
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