Stephen Mandel portfolio
Updated November 15, 2026
Stephen Mandel (Lone Pine Capital) — Another Tiger alumnus, buying quality growth companies with strong management.
According to the latest 13F report that Lone Pine Capital filed with the SEC (Q2 2026, filed August 14, 2026), its US stock portfolio is worth about $16.4B across 34 holdings. The largest positions are Nebius Group N.v.NBIS, Asml Hldg NVASML, Seagate Technology Hldngs PLSTX, and the top 10 make up 54% of the portfolio.
| # | Stock | Weight | Value | Change this quarter |
|---|---|---|---|---|
| 1 | Nebius Group N.v.NBIS | 7.2% | $1.2B | New buy |
| 2 | Asml Hldg NVASML | 6.9% | $1.1B | Trimmed +13% |
| 3 | Seagate Technology Hldngs PLSTX | 5.9% | $965M | New buy |
| 4 | Home Depot IncHD | 5.6% | $918M | New buy |
| 5 | Applied Materials IncAMAT | 5.3% | $873M | New buy |
| 6 | Medline Inc-cl AMDLN | 5.1% | $827M | Added +78% |
| 7 | Linde PLCLIN | 4.9% | $809M | New buy |
| 8 | Teradyne IncTER | 4.4% | $722M | Trimmed +20% |
| 9 | Corning IncGLW | 4.3% | $697M | Trimmed +27% |
| 10 | Carvana CoCVNA | 4.2% | $692M | — |
| 11 | HUT 8 CorpHUT | 4.1% | $666M | Trimmed +5% |
| 12 | Performance Food Group CoPFGC | 4.0% | $654M | Added +47% |
| 13 | NU Hldgs LTDNU | 3.9% | $631M | Added +24% |
| 14 | Terawulf IncWULF | 3.6% | $596M | Added +21% |
| 15 | Carpenter TechnologyCRS | 3.6% | $594M | Added +6% |
| 16 | Mastec IncMTZ | 3.4% | $560M | Trimmed +12% |
| 17 | Applovin Corp-class AAPP | 3.3% | $537M | Trimmed +29% |
| 18 | TTM TechnologiesTTMI | 3.1% | $512M | New buy |
| 19 | Sterling Infrastructure IncSTRL | 3.1% | $512M | New buy |
| 20 | US Foods Holding CorpUSFD | 3.1% | $503M | Added +29% |
| 21 | ON Hldg AGONON | 2.9% | $470M | New buy |
| 22 | LPL Financial Holdings IncLPLA | 2.1% | $343M | Trimmed +41% |
| 23 | Argan IncAGX | 1.8% | $294M | Trimmed +6% |
| 24 | Bitdeer Technologies GroupBTDR | 0.7% | $111M | New buy |
| 25 | Sharonai Holdings IncSHAZ | 0.6% | $102M | New buy |
| 26 | Alphabet Inc-cl AGOOGL | 0.5% | $77M | Added +15% |
| 27 | Kodiak GAS Services IncKGS | 0.4% | $63M | New buy |
| 28 | Visa Inc-class A SharesV | 0.3% | $57M | Added +79% |
| 29 | Interactive Brokers Gro-cl AIBKR | 0.3% | $50M | New buy |
| 30 | Taiwan Semiconductor-sp ADRTSM | 0.3% | $48M | Trimmed +93% |
| 31 | SEA Ltd-adrSE | 0.3% | $47M | New buy |
| 32 | Mckesson CorpMCK | 0.3% | $44M | Trimmed +85% |
| 33 | Transdigm Group IncTDG | 0.2% | $38M | Trimmed +20% |
| 34 | Brookfield CorpBN | 0.2% | $34M | Trimmed +93% |
Positions sold out
Vistra CorpVST, Talen Energy CorpTLN, Clean Harbors IncCLH, Tenet Healthcare CorpTHC, Capital ONE Financial CorpCOF, Entegris IncENTG, Ciena CorpCIEN, Vulcan Materials CoVMC, Spotify Technology S ASPOT, Mastercard Inc - AMA, Amphenol Corp-cl AAPH, Hilton Worldwide Holdings INHLT, KKR & Co IncKKR, Booking Holdings IncBKNG, Boston Scientific CorpBSX
Frequently asked questions
What does Stephen Mandel own now?
According to the latest 13F (Q2 2026), the largest holdings are Nebius Group N.v.NBIS, Asml Hldg NVASML, Seagate Technology Hldngs PLSTX. The full list is in the table above.
What is a 13F report?
US investment managers with more than $100 million in US stocks must list their holdings with the SEC within 45 days after each quarter ends.
Why is the data delayed?
Because 13F reports arrive up to 45 days after the quarter ends, the manager may have traded since then.
Should I copy this portfolio?
Knowing what great investors buy is a good source of ideas, but because of the delay and different goals, copying blindly is not recommended.
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