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.
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Buys
These are the positions the manager opened or added to this quarter, showing where they put more money to work. 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 |
| 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 |
| MDLN | MEDLINE INC | Add +77.9% | 5.06% | 20,968,367 | $826.99M | $39.44 | $32.82 - $49.13(41%)$44.00 -> $39.44 |
| 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 |
| 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 |
| 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 |
| V | VISA INC | Add +78.9% | 0.35% | 165,960 | $56.94M | $343.09 | $293.89 - $345.80(95%)$298.51 -> $343.09 |
| GOOGL | ALPHABET INC | Add +14.9% | 0.47% | 215,574 | $77.04M | $357.37 | $289.45 - $408.61(57%)$297.39 -> $357.37 |