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Lone Pine Capital LLC Stephen Mandel

Greenwich, CT 20 processed 13Fs on this site, 2021 Q3 to 2026 Q2

  • $16.4B
  • 34 holdings
  • 2026 Q2
  • +30.4% QoQ
  • Top 5 30.9%

Stephen Mandel's biggest moves in 2026 Q2 were opening Nebius Group and Seagate Technology, adding to Terawulf and Performance Food Group, trimming Taiwan Semiconductor and Brookfield Corporation, and selling out of Vistra and Talen Energy.

Portfolio

2026 Q2, filed 8/14/2026, top 12 of 34 holdings

Top 5 30.9%, top 10 53.8%

  1. NBIS, Nebius Group 7.2%
  2. ASML 6.9%
  3. STX, Seagate Technology 5.9%
  4. HD, Home Depot 5.6%
  5. AMAT, Applied Materials 5.3%
  6. MDLN, Medline 5.1%
  7. LIN, Linde 4.9%
  8. TER, Teradyne 4.4%
  9. GLW, Corning 4.3%
  10. CVNA, Carvana 4.2%
  11. HUT, Hut 8 4.1%
  12. PFGC, Performance Food Group 4.0%
  13. Other 38.1%

AUM over time

2026 Q2 $16.4B +30.4% QoQ
2021 Q3: $29.7B 2021 Q3: $29.7B
Q3 2021
2021 Q4: $24.4B, −17.8% QoQ 2021 Q4: $24.4B, −17.8% QoQ
Q4
2022 Q1: $16.8B, −31.1% QoQ 2022 Q1: $16.8B, −31.1% QoQ
Q1 2022
2022 Q2: $10.6B, −36.9% QoQ 2022 Q2: $10.6B, −36.9% QoQ
Q2
2022 Q3: $10.6B, 0.0% QoQ 2022 Q3: $10.6B, 0.0% QoQ
Q3
2022 Q4: $10.5B, −1.3% QoQ 2022 Q4: $10.5B, −1.3% QoQ
Q4
2023 Q1: $10.8B, +3.1% QoQ 2023 Q1: $10.8B, +3.1% QoQ
Q1 2023
2023 Q2: $10.9B, +1.0% QoQ 2023 Q2: $10.9B, +1.0% QoQ
Q2
2023 Q3: $10.4B, −4.9% QoQ 2023 Q3: $10.4B, −4.9% QoQ
Q3
2023 Q4: $11.6B, +11.4% QoQ 2023 Q4: $11.6B, +11.4% QoQ
Q4
2024 Q1: $12.7B, +9.6% QoQ 2024 Q1: $12.7B, +9.6% QoQ
Q1 2024
2024 Q2: $12.3B, −2.7% QoQ 2024 Q2: $12.3B, −2.7% QoQ
Q2
2024 Q3: $13.4B, +8.7% QoQ 2024 Q3: $13.4B, +8.7% QoQ
Q3
2024 Q4: $13.5B, +0.4% QoQ 2024 Q4: $13.5B, +0.4% QoQ
Q4
2025 Q1: $11.6B, −14.0% QoQ 2025 Q1: $11.6B, −14.0% QoQ
Q1 2025
2025 Q2: $14.1B, +21.4% QoQ 2025 Q2: $14.1B, +21.4% QoQ
Q2
2025 Q3: $13.7B, −2.2% QoQ 2025 Q3: $13.7B, −2.2% QoQ
Q3
2025 Q4: $13.6B, −1.0% QoQ 2025 Q4: $13.6B, −1.0% QoQ
Q4
2026 Q1: $12.5B, −7.8% QoQ 2026 Q1: $12.5B, −7.8% QoQ
Q1 2026
2026 Q2: $16.4B, +30.4% QoQ 2026 Q2: $16.4B, +30.4% QoQ
Q2

Latest book

2026 Q2 2026 Q1, filed 14 Aug, long equity only

Download CSV Download Excel All activity
NBIS, Nebius Group 7.19% New 4,258,008 $276.17 $1.2B +4,258,008 +$1.2B
ASML 6.92% Reduce −13.1% 569,174 $1,989 $1.1B −85,974 +$267M
STX, Seagate Technology 5.90% New 1,000,109 $965.00 $965M +1,000,109 +$965M
HD, Home Depot 5.61% New 2,603,189 $352.68 $918M +2,603,189 +$918M
AMAT, Applied Materials 5.34% New 1,207,737 $723.00 $873M +1,207,737 +$873M
MDLN, Medline 5.06%, was 4.18% Add +77.9% 20,968,367 $39.44 $827M +9,179,211 +$302M
LIN, Linde 4.94% New 1,558,081 $518.94 $809M +1,558,081 +$809M
TER, Teradyne 4.42%, was 4.43% Reduce −20.3% 1,493,080 $483.84 $722M −379,796 +$167M
GLW, Corning 4.26% Reduce −26.6% 2,728,058 $255.43 $697M −990,089 +$191M
CVNA, Carvana 4.23% Add +499.6% 10,520,666 $65.82 $692M +8,765,957 +$141M
HUT, Hut 8 4.07% Reduce −5.0% 5,773,045 $115.44 $666M −305,906 +$381M
PFGC, Performance Food Group 4.00%, was 2.72% Add +47.1% 5,852,740 $111.79 $654M +1,874,582 +$314M
NU, Nu Holdings 3.86% Add +24.2% 47,219,717 $13.36 $631M +9,208,492 +$85M
WULF, Terawulf 3.65%, was 2.29% Add +21.2% 24,144,625 $24.70 $596M +4,223,195 +$309M
CRS, Carpenter Technology 3.63%, was 5.71% Reduce −47.0% 962,839 $616.84 $594M −855,101 −$123M
MTZ, Mastec 3.42%, was 3.93% Reduce −12.1% 1,345,157 $416.06 $560M −185,893 +$67M
APP, AppLovin 3.28%, was 4.65% Reduce −28.9% 1,042,268 $515.23 $537M −422,655 −$46M
TTMI, TTM Technologies 3.13% New 2,738,075 $187.02 $512M +2,738,075 +$512M
STRL, Sterling Infrastructure 3.13% New 609,643 $839.36 $512M +609,643 +$512M
USFD, US Foods 3.07%, was 2.79% Add +29.5% 4,914,492 $102.25 $503M +1,118,494 +$152M
ONON, On Holding 2.88% New 13,280,030 $35.42 $470M +13,280,030 +$470M
LPLA, LPL Financial 2.10%, was 4.92% Reduce −40.5% 1,219,099 $281.68 $343M −830,868 −$273M
AGX, Argan 1.80% Reduce −6.2% 368,673 $798.55 $294M −24,461 +$80M
BTDR, Bitdeer Technologies Group 0.68% New 7,020,026 $15.87 $111M +7,020,026 +$111M
SHAZ, Sharonai 0.63% New 1,209,848 $84.66 $102M +1,209,848 +$102M
GOOGL, Alphabet 0.47%, was 0.43% Add +14.9% 215,574 $357.37 $77M +28,013 +$23M
Kodiak Gas Services 0.39% New 845,070 $75.13 $63M +845,070 +$63M
V, Visa 0.35%, was 0.22% Add +78.9% 165,960 $343.09 $57M +73,185 +$29M
IBKR, Interactive Brokers 0.31% New 577,666 $87.04 $50M +577,666 +$50M
TSM, Taiwan Semiconductor 0.30%, was 3.74% Reduce −92.7% 101,242 $477.57 $48M −1,288,288 −$421M
SE, Sea Limited 0.29% New 494,581 $95.83 $47M +494,581 +$47M
MCK, McKesson 0.27%, was 2.71% Reduce −85.3% 57,851 $755.60 $44M −334,373 −$296M
TDG, TransDigm 0.23%, was 0.33% Reduce −20.0% 28,532 $1,332 $38M −7,145 −$3.3M
BN, Brookfield Corporation 0.21%, was 3.62% Reduce −92.9% 792,717 $42.59 $34M −10,416,252 −$420M

Exits / last held

Gone since 2026 Q1, shown at their last reported size.

Stock % of portfolio Recent activity Shares Reported price* Value Share change $ change
VST, Vistra 7.42% Exit 0 $150.33 $930M −6,187,585 −$930M
TLN, Talen Energy 4.63% Exit 0 $319.23 $580M −1,817,947 −$580M
CLH, Clean Harbors 4.01% Exit 0 $286.73 $503M −1,754,950 −$503M
THC, Tenet Healthcare 3.40% Exit 0 $188.71 $426M −2,258,717 −$426M
COF, Capital One 3.30% Exit 0 $182.43 $414M −2,267,056 −$414M
ENTG, Entegris 2.91% Exit 0 $117.24 $365M −3,115,054 −$365M
CIEN, Ciena 2.51% Exit 0 $388.23 $314M −809,522 −$314M
VMC, Vulcan Materials 0.31% Exit 0 $272.30 $39M −144,179 −$39M
SPOT, Spotify 0.27% Exit 0 $484.91 $33M −68,844 −$33M
MA, Mastercard 0.23% Exit 0 $499.66 $29M −57,201 −$29M
APH, Amphenol 0.22% Exit 0 $126.35 $28M −223,084 −$28M
HLT, Hilton 0.22% Exit 0 $304.08 $27M −89,249 −$27M
KKR 0.13% Exit 0 $92.50 $17M −179,308 −$17M
BKNG, Booking Holdings 0.08% Exit 0 $4,210 $10M −2,405 −$10M
BSX, Boston Scientific 0.05% Exit 0 $62.75 $6.6M −104,655 −$6.6M

Weight bar: held both quarters added sold at this quarter’s reported price

* Reported price is value ÷ shares from the 13F as of period end, not a live market quote. Weight % is each long-equity position ÷ full 13F AUM, so rows may not sum to 100% when the filing includes options or other non-equity (excluded from this table). Share change and $ change are vs 2026 Q1. Click a column header to sort, or New, Hold, Add or Reduce to bring those moves to the top. Exit opens the last-held block below.

Filings history

20 periods, with AUM normalized

Newest 13Fs
Period Holds AUM QoQ Form Filed Filing ID
2026 Q2 34 $16.4B +30.4% 13F-HR 8/14/2026 000091957426005485
2026 Q1 36 $12.5B −7.8% 13F-HR 5/15/2026 000091957426003439
2025 Q4 32 $13.6B −1.0% 13F-HR 2/17/2026 000090266426001084
2025 Q3 25 $13.7B −2.2% 13F-HR 11/14/2025 000090266425004988
2025 Q2 24 $14.1B +21.4% 13F-HR 8/14/2025 000090266425003627
2025 Q1 24 $11.6B −14.0% 13F-HR 5/15/2025 000090266425002417
2024 Q4 30 $13.5B +0.4% 13F-HR 2/14/2025 000090266425001072
2024 Q3 29 $13.4B +8.7% 13F-HR 11/14/2024 000090266424006633
2024 Q2 24 $12.3B −2.7% 13F-HR 8/14/2024 000090266424005150
2024 Q1 26 $12.7B +9.6% 13F-HR 5/15/2024 000090266424003638
2023 Q4 25 $11.6B +11.4% 13F-HR 2/14/2024 000090266424001732
2023 Q3 26 $10.4B −4.9% 13F-HR 11/14/2023 000090266423005548
2023 Q2 29 $10.9B +1.0% 13F-HR 8/14/2023 000090266423004451
2023 Q1 29 $10.8B +3.1% 13F-HR 5/15/2023 000090266423003075
2022 Q4 30 $10.5B −1.3% 13F-HR 2/14/2023 000090266423001763
2022 Q3 31 $10.6B 0.0% 13F-HR 11/14/2022 000090266422004869
2022 Q2 30 $10.6B −36.9% 13F-HR 8/15/2022 000090266422003974
2022 Q1 30 $16.8B −31.1% 13F-HR 5/16/2022 000156761922010934
2021 Q4 29 $24.4B −17.8% 13F-HR 2/14/2022 000156761922004367
2021 Q3 39 $29.7B — 13F-HR 11/15/2021 000090266421004961

About

Lone Pine Capital LLC

20 processed 13Fs on this site, 2021 Q3 to 2026 Q2

Notable person
Stephen Mandel
SEC filing name
LONE PINE CAPITAL LLC
Location
Greenwich, CT
All SEC filings
View on sec.gov