---
title: Stephen Mandel (Lone Pine Capital LLC) — 13F holdings
canonical: https://sweetvaluelab.com/investors/stephen-mandel
cik: 0001061165
quarter: 2026-06-30
filed: 2026-08-14
---
# Stephen Mandel — Lone Pine Capital LLC

Latest 13F for the quarter ended Jun 30, 2026, filed Aug 14, 2026: 34 positions worth $16.4B. Against the quarter ended Mar 31, 2026: 13 bought, 8 added to, 0 unchanged, 13 reduced, 15 sold. The top five are 31% of the portfolio, the top ten 54%; 15 of the positions have a research page on this site.

## Holdings

| Ticker | Issuer | Shares | Value | % of portfolio | Change this quarter |
| --- | --- | ---: | ---: | ---: | --- |
| NBIS | NEBIUS GROUP N.V. | 4,258,008 | $1.2B | 7.2% | bought |
| ASML | ASML HLDG NV | 569,174 | $1.1B | 6.9% | reduced (-13%) |
| STX | SEAGATE TECHNOLOGY HLDNGS PL | 1,000,109 | $965.1M | 5.9% | bought |
| HD | HOME DEPOT INC | 2,603,189 | $918.1M | 5.6% | bought |
| AMAT | APPLIED MATLS INC | 1,207,737 | $873.2M | 5.3% | bought |
| MDLN | MEDLINE INC | 20,968,367 | $827.0M | 5.1% | added (+78%) |
| LIN | LINDE PLC | 1,558,081 | $808.6M | 4.9% | bought |
| TER | TERADYNE INC | 1,493,080 | $722.4M | 4.4% | reduced (-20%) |
| GLW | CORNING INC | 2,728,058 | $696.8M | 4.3% | reduced (-27%) |
| CVNA | CARVANA CO | 10,520,666 | $692.5M | 4.2% | added (+20%) |
| HUT | HUT 8 CORP | 5,773,045 | $666.5M | 4.1% | reduced (-5%) |
| PFGC | PERFORMANCE FOOD GROUP CO | 5,852,740 | $654.3M | 4.0% | added (+47%) |
| NU | NU HLDGS LTD | 47,219,717 | $630.9M | 3.9% | added (+24%) |
| WULF | TERAWULF INC | 24,144,625 | $596.4M | 3.6% | added (+21%) |
| CRS | CARPENTER TECHNOLOGY CORP | 962,839 | $593.9M | 3.6% | reduced (-47%) |
| MTZ | MASTEC INC | 1,345,157 | $559.7M | 3.4% | reduced (-12%) |
| APP | APPLOVIN CORP | 1,042,268 | $537.0M | 3.3% | reduced (-29%) |
| TTMI | TTM TECHNOLOGIES INC | 2,738,075 | $512.1M | 3.1% | bought |
| STRL | STERLING INFRASTRUCTURE INC | 609,643 | $511.7M | 3.1% | bought |
| USFD | US FOODS HLDG CORP | 4,914,492 | $502.5M | 3.1% | added (+29%) |
| ONON | ON HLDG AG | 13,280,030 | $470.4M | 2.9% | bought |
| LPLA | LPL FINL HLDGS INC | 1,219,099 | $343.4M | 2.1% | reduced (-41%) |
| AGX | ARGAN INC | 368,673 | $294.4M | 1.8% | reduced (-6%) |
| BTDR | BITDEER TECHNOLOGIES GROUP | 7,020,026 | $111.4M | 0.7% | bought |
| SHAZ | SHARONAI HOLDINGS INC | 1,209,848 | $102.4M | 0.6% | bought |
| GOOGL | ALPHABET INC | 215,574 | $77.0M | 0.5% | added (+15%) |
| KGS | KODIAK GAS SVCS INC | 845,070 | $63.5M | 0.4% | bought |
| V | VISA INC | 165,960 | $56.9M | 0.3% | added (+79%) |
| IBKR | INTERACTIVE BROKERS GROUP IN | 577,666 | $50.3M | 0.3% | bought |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | 101,242 | $48.4M | 0.3% | reduced (-93%) |
| SE | SEA LTD | 494,581 | $47.4M | 0.3% | bought |
| MCK | MCKESSON CORP | 57,851 | $43.7M | 0.3% | reduced (-85%) |
| TDG | TRANSDIGM GROUP INC | 28,532 | $38.0M | 0.2% | reduced (-20%) |
| BN | BROOKFIELD CORP | 792,717 | $33.8M | 0.2% | reduced (-93%) |

## Largest moves this quarter

| Ticker | Issuer | Shares now | Shares before | Change | Bought / sold at reported prices | Value |
| --- | --- | ---: | ---: | --- | ---: | ---: |
| NBIS | NEBIUS GROUP N.V. | 4,258,008 | 0 | bought | +$1.2B | $1.2B |
| STX | SEAGATE TECHNOLOGY HLDNGS PL | 1,000,109 | 0 | bought | +$965.1M | $965.1M |
| VST | VISTRA CORP | 0 | 6,187,585 | sold | −$930.2M | $0 |
| HD | HOME DEPOT INC | 2,603,189 | 0 | bought | +$918.1M | $918.1M |
| AMAT | APPLIED MATLS INC | 1,207,737 | 0 | bought | +$873.2M | $873.2M |
| LIN | LINDE PLC | 1,558,081 | 0 | bought | +$808.6M | $808.6M |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | 101,242 | 1,389,530 | reduced (-93%) | −$615.2M | $48.4M |

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Source: https://sweetvaluelab.com/investors/stephen-mandel (SweetValueLab, free, no account). Holdings from SEC Form 13F-HR filings; tickers resolved from CUSIPs. Values as reported by the filer. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.