Stephen Mandel portfolio: what Lone Pine Capital holds
Stephen Mandel is the founder of Lone Pine Capital. He is one of the Tiger Cubs and focuses on long-term stock picking across world markets.
Stock portfolio value
$16.4B
Stock positions
34
Report date
30 June 2026
Filed
14 August 2026
Largest positions
| # | Company | Weight | Value | Last quarter |
|---|---|---|---|---|
| 1 | Nebius Group N.V. | 7.2% | $1.2B | New |
| 2 | Asml Hldg Nv | 6.9% | $1.1B | Trimmed -13% |
| 3 | Seagate Technology Hldngs Pl | 5.9% | $965.1M | New |
| 4 | Home Depot IncHD | 5.6% | $918.1M | New |
| 5 | Applied Matls IncAMAT | 5.3% | $873.2M | New |
| 6 | Medline IncMDLN | 5.1% | $827.0M | Added +78% |
| 7 | Linde Plc | 4.9% | $808.6M | New |
| 8 | Teradyne IncTER | 4.4% | $722.4M | Trimmed -20% |
| 9 | Corning IncGLW | 4.3% | $696.8M | Trimmed -27% |
| 10 | Carvana CoCVNA | 4.2% | $692.5M | Added +500% |
| 11 | Hut 8 CorpHUT | 4.1% | $666.5M | Trimmed -5% |
| 12 | Performance Food Group CoPFGC | 4% | $654.3M | Added +47% |
| 13 | Nu Hldgs Ltd | 3.9% | $630.9M | Added +24% |
| 14 | Terawulf IncWULF | 3.6% | $596.4M | Added +21% |
| 15 | Carpenter Technology CorpCRS | 3.6% | $593.9M | Trimmed -47% |
| 16 | Mastec IncMTZ | 3.4% | $559.7M | Trimmed -12% |
| 17 | Applovin CorpAPP | 3.3% | $537.0M | Trimmed -29% |
| 18 | Ttm Technologies IncTTMI | 3.1% | $512.1M | New |
| 19 | Sterling Infrastructure IncSTRL | 3.1% | $511.7M | New |
| 20 | Us Foods Hldg CorpUSFD | 3.1% | $502.5M | Added +29% |
New positions last quarter
- Nebius Group N.V.$1.2B
- Seagate Technology Hldngs Pl$965.1M
- Home Depot Inc$918.1M
- Applied Matls Inc$873.2M
- Linde Plc$808.6M
- Ttm Technologies Inc$512.1M
- Sterling Infrastructure Inc$511.7M
- On Hldg Ag$470.4M
- Bitdeer Technologies Group$111.4M
- Sharonai Holdings Inc$102.4M
Positions sold
- Vistra Corp$930.2M
- Talen Energy Corp$580.3M
- Clean Harbors Inc$503.2M
- Tenet Healthcare Corp$426.2M
- Capital One Finl Corp$413.6M
- Entegris Inc$365.2M
- Ciena Corp$314.3M
- Vulcan Matls Co$39.3M
- Spotify Technology S A$33.4M
- Mastercard Incorporated$28.6M
Source: SEC filing. Values count stock positions only; options are left out of the totals and tables.
About Stephen Mandel
- Lone Pine was founded in 1997 and is based in Greenwich, Connecticut.
- Mandel previously worked at Julian Robertson's Tiger Management.
- The fund uses a long/short strategy with an emphasis on quality growth companies.
- Lone Pine is among the institutional investors followed for a long time.
How to use this page
A 13F filing shows what a manager held on the last day of a quarter, published up to 45 days later. It is a snapshot, not a trading signal: the manager may already have bought or sold since. Learn more in How to read 13F filings.
For information only, not investment advice. 13F filings are delayed by up to 45 days and do not show cash, bonds, short positions or non-US stocks.