Stephen Mandel
Lone Pine Capital LLC
Founder of Lone Pine Capital, one of the original "Tiger Cubs," specializing in high-quality growth businesses held for the long term.
As of June 30, 2026, the Stephen Mandel portfolio (Lone Pine Capital LLC) holds 34 equity positions worth $16.4B. That is up 30.4% from $12.5B in Q1 2026. Over the quarter, the fund opened 13 new positions, exited 15, increased 8 and trimmed 13 (full breakdown below).
Portfolio as of June 30, 2026
| Company ↕ | Value ↓ | % ↕ | ||
|---|---|---|---|---|
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Quarterly moves
Q1 2026 → Q2 2026
Portfolio value went from $12.5B to $16.4B (+30.4%) quarter over quarter.
Amount invested · % of portfolio
- NEBIUS GROUP N.V. $1.2B · 7.2%
- SEAGATE TECHNOLOGY HLDNGS PL $965M · 5.9%
- HOME DEPOT INC $918M · 5.6%
- APPLIED MATLS INC $873M · 5.3%
- LINDE PLC $809M · 4.9%
- TTM TECHNOLOGIES INC $512M · 3.1%
- STERLING INFRASTRUCTURE INC $512M · 3.1%
- ON HLDG AG $470M · 2.9%
Amount bought · (±%) · % of portfolio
- MEDLINE INC $362M (+77.9%) · 5.1%
- CARVANA CO $577M (+499.6%) · 4.2%
- PERFORMANCE FOOD GROUP CO $210M (+47.1%) · 4.0%
- NU HLDGS LTD $123M (+24.2%) · 3.9%
- TERAWULF INC $104M (+21.2%) · 3.7%
- US FOODS HLDG CORP $114M (+29.5%) · 3.1%
- ALPHABET INC $10M (+14.9%) · 0.5%
- VISA INC $25M (+78.9%) · 0.4%
Amount sold · (±%) · % of portfolio
- ASML HLDG NV $114M (-13.1%) · 6.9%
- TERADYNE INC $113M (-20.3%) · 4.4%
- CORNING INC $135M (-26.6%) · 4.3%
- HUT 8 CORP $14M (-5%) · 4.1%
- CARPENTER TECHNOLOGY CORP $337M (-47%) · 3.6%
- MASTEC INC $60M (-12.1%) · 3.4%
- APPLOVIN CORP $168M (-28.9%) · 3.3%
- LPL FINL HLDGS INC $250M (-40.5%) · 2.1%
- VISTRA CORP $930M
- TALEN ENERGY CORP $580M
- CLEAN HARBORS INC $503M
- TENET HEALTHCARE CORP $426M
- CAPITAL ONE FINL CORP $414M
- ENTEGRIS INC $365M
- CIENA CORP $314M
- VULCAN MATLS CO $39M
Portfolio value over time
Top 10 holdings evolution as of June 30, 2026
Share of portfolio (%) since inception, top 10 as of the selected quarter.
Sector breakdown
Based on holdings matched to a stock referenced on the site.
Dividend aristocrats held
Stocks with at least 25 consecutive years of dividend growth.
No matching holding among stocks referenced on the site.
Frequently asked questions
What are Stephen Mandel's top holdings?
As of June 30, 2026, the top three holdings of Lone Pine Capital LLC are NEBIUS GROUP N.V., ASML HLDG NV, SEAGATE TECHNOLOGY HLDNGS PL.
How many positions does Stephen Mandel hold?
Lone Pine Capital LLC reports 34 equity positions worth $16.4B as of June 30, 2026.
Does Stephen Mandel invest in dividend stocks?
The weighted dividend yield of the covered portion of the portfolio is approximately 2.8%.
Data sourced from 13F filings submitted to the SEC, published with roughly 45 days of lag. A 13F only covers long positions in U.S.-traded securities: it excludes short sales, non-U.S. holdings and cash. Provided for informational purposes only and does not constitute investment advice.