Stephen Mandel - Lone Pine Capital
As of Q2 2026, Stephen Mandel reported 34 long-equity positions worth $16.36B in aggregate.
Copy-investor backtest
- Latest quarter
- +4.81%
- 1-year
- +0.17%
- 3-year
- +87.28%
- 5-year
- +14.37%
- 3-year vs S&P 500
- +14.05%
- 5-year vs S&P 500
- -59.31%
- 5-year top 5
- +11.49%
Return from mechanically copying the disclosed 13F equity portfolio after each filing and rebalancing at the next. The vs S&P 500 figures subtract SPY over that manager's own rebalance dates, so both sides cover the same days; both are price return, excluding dividends. Method & limitations.
Get email alerts when Stephen Mandel files a new 13F — sign in or create a free account.
All activity
This tab shows every position the manager opened, added to, reduced, or exited compared with the prior quarter, so you can see exactly what changed. The quarter shown is Q2 2026.
| Ticker | Security | Activity | % portfolio | Shares | Value | Reported price | Q range |
|---|---|---|---|---|---|---|---|
| YNDX | NEBIUS GROUP N.V. | New | 7.19% | 4,258,008 | $1.18B | — | - |
| STX | SEAGATE TECHNOLOGY HLDNGS PL | New | 5.90% | 1,000,109 | $965.11M | $965.00 | $396.31 - $1145.00(76%)$423.12 -> $965.00 |
| HD | HOME DEPOT INC | New | 5.61% | 2,603,189 | $918.09M | $352.68 | $289.10 - $353.55(99%)$329.56 -> $352.68 |
| AMAT | APPLIED MATLS INC | New | 5.34% | 1,207,737 | $873.19M | $723.00 | $337.25 - $739.67(96%)$353.80 -> $726.85 |
| LIN | LINDE PLC | New | 4.94% | 1,558,081 | $808.55M | $518.94 | $482.77 - $527.94(80%)$493.83 -> $518.94 |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | Reduce -92.7% | 0.30% | 101,242 | $48.35M | $477.57 | $326.80 - $479.00(99%)$341.49 -> $477.57 |
| CRS | CARPENTER TECHNOLOGY CORP | Reduce -47.0% | 3.63% | 962,839 | $593.92M | $616.84 | $382.18 - $624.49(97%)$404.32 -> $616.44 |
| TTMI | TTM TECHNOLOGIES INC | New | 3.13% | 2,738,075 | $512.07M | $187.02 | $89.70 - $223.83(73%)$97.08 -> $187.02 |
| STRL | STERLING INFRASTRUCTURE INC | New | 3.13% | 609,643 | $511.71M | $839.36 | $362.59 - $1005.68(74%)$421.29 -> $839.36 |
| ONON | ON HLDG AG | New | 2.88% | 13,280,030 | $470.38M | $35.42 | $31.62 - $41.41(39%)$34.77 -> $35.42 |
| BN | BROOKFIELD CORP | Reduce -92.9% | 0.21% | 792,717 | $33.76M | $42.59 | $39.66 - $48.60(33%)$40.74 -> $42.60 |
| MDLN | MEDLINE INC | Add +77.9% | 5.06% | 20,968,367 | $826.99M | $39.44 | $32.82 - $49.13(41%)$44.00 -> $39.44 |
| GLW | CORNING INC | Reduce -26.6% | 4.26% | 2,728,058 | $696.83M | $255.43 | $136.35 - $271.78(88%)$142.38 -> $255.43 |
| MCK | MCKESSON CORP | Reduce -85.3% | 0.27% | 57,851 | $43.71M | $755.60 | $723.68 - $887.25(20%)$872.32 -> $755.60 |
| LPLA | LPL FINL HLDGS INC | Reduce -40.5% | 2.10% | 1,219,099 | $343.4M | $281.68 | $260.15 - $339.99(27%)$289.27 -> $281.68 |
| APP | APPLOVIN CORP | Reduce -28.9% | 3.28% | 1,042,268 | $537.01M | $515.23 | $364.64 - $622.00(59%)$387.84 -> $516.43 |
| PFGC | PERFORMANCE FOOD GROUP CO | Add +47.1% | 4.00% | 5,852,740 | $654.28M | $111.79 | $82.00 - $112.72(97%)$84.24 -> $111.79 |
| TER | TERADYNE INC | Reduce -20.3% | 4.42% | 1,493,080 | $722.41M | $483.84 | $290.00 - $487.91(98%)$312.20 -> $483.84 |
| ASML | ASML HLDG NV | Reduce -13.1% | 6.92% | 569,174 | $1.13B | $1989.44 | $1272.21 - $1999.96(99%)$1359.76 -> $1990.62 |
| BTDR | BITDEER TECHNOLOGIES GROUP | New | 0.68% | 7,020,026 | $111.41M | $15.87 | $8.75 - $20.72(59%)$9.34 -> $15.87 |
| SHAZ | SHARONAI HOLDINGS INC | New | 0.63% | 1,209,848 | $102.43M | $84.66 | $22.54 - $97.48(83%)$27.62 -> $84.66 |
| KGS | KODIAK GAS SVCS INC | New | 0.39% | 845,070 | $63.49M | $75.13 | - |
| IBKR | INTERACTIVE BROKERS GROUP IN | New | 0.31% | 577,666 | $50.28M | $87.04 | $65.40 - $97.83(67%)$67.91 -> $87.04 |
| SE | SEA LTD | New | 0.29% | 494,581 | $47.4M | $95.83 | $79.00 - $99.97(80%)$82.16 -> $95.83 |
| APH | AMPHENOL CORP | Sold | — | 0 | $0 | — | - |
| BKNG | BOOKING HOLDINGS INC | Sold | — | 0 | $0 | — | - |
| BSX | BOSTON SCIENTIFIC CORP | Sold | — | 0 | $0 | — | - |
| COF | CAPITAL ONE FINL CORP | Sold | — | 0 | $0 | — | - |
| CIEN | CIENA CORP | Sold | — | 0 | $0 | — | - |
| CLH | CLEAN HARBORS INC | Sold | — | 0 | $0 | — | - |
| ENTG | ENTEGRIS INC | Sold | — | 0 | $0 | — | - |
| HLT | HILTON WORLDWIDE HLDGS INC | Sold | — | 0 | $0 | — | - |
| KKR | KKR & CO INC | Sold | — | 0 | $0 | — | - |
| MA | MASTERCARD INCORPORATED | Sold | — | 0 | $0 | — | - |
| SPOT | SPOTIFY TECHNOLOGY S A | Sold | — | 0 | $0 | — | - |
| TLN | TALEN ENERGY CORP | Sold | — | 0 | $0 | — | - |
| THC | TENET HEALTHCARE CORP | Sold | — | 0 | $0 | — | - |
| VST | VISTRA CORP | Sold | — | 0 | $0 | — | - |
| VMC | VULCAN MATLS CO | Sold | — | 0 | $0 | — | - |
| NU | NU HLDGS LTD | Add +24.2% | 3.86% | 47,219,717 | $630.86M | $13.36 | $11.20 - $15.81(47%)$14.44 -> $13.36 |
| CVNA | CARVANA CO | Add +19.9%5:1 split | 4.23% | 10,520,666 | $692.47M | $65.82 | $58.94 - $83.91(28%)$62.42 -> $65.81 |
| USFD | US FOODS HLDG CORP | Add +29.5% | 3.07% | 4,914,492 | $502.51M | $102.25 | $79.52 - $102.62(98%)$90.83 -> $102.25 |
| WULF | TERAWULF INC | Add +21.2% | 3.65% | 24,144,625 | $596.37M | $24.70 | $13.47 - $29.84(69%)$14.48 -> $24.70 |
| MTZ | MASTEC INC | Reduce -12.1% | 3.42% | 1,345,157 | $559.67M | $416.06 | $322.42 - $441.43(79%)$333.79 -> $416.06 |
| HUT | HUT 8 CORP | Reduce -5.0% | 4.07% | 5,773,045 | $666.47M | $115.44 | $44.21 - $140.80(74%)$47.36 -> $115.44 |
| V | VISA INC | Add +78.9% | 0.35% | 165,960 | $56.94M | $343.09 | $293.89 - $345.80(95%)$298.51 -> $343.09 |
| AGX | ARGAN INC | Reduce -6.2% | 1.80% | 368,673 | $294.4M | $798.55 | $546.76 - $805.75(97%)$571.38 -> $796.34 |
| GOOGL | ALPHABET INC | Add +14.9% | 0.47% | 215,574 | $77.04M | $357.37 | $289.45 - $408.61(57%)$297.39 -> $357.37 |
| TDG | TRANSDIGM GROUP INC | Reduce -20.0% | 0.23% | 28,532 | $38.01M | $1332.04 | $1123.61 - $1361.77(88%)$1173.27 -> $1332.04 |