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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Filing period

Updated 2026-08-14 from SEC 13F data.

Live quotes available for 33 of 49 rows. Rows without a quote are marked unavailable.


1	YNDX	NEBIUS GROUP N.V.	7.19%	New	4,258,008	$1.18B	No quote	No quote
2	ASML	ASML HLDG NV	6.92%	Reduce -13.1%	569,174	$1.13B	$1989.44
3	STX	SEAGATE TECHNOLOGY HLDNGS PL	5.90%	New	1,000,109	$965.11M	$965.00
4	HD	HOME DEPOT INC	5.61%	New	2,603,189	$918.09M	$352.68
5	AMAT	APPLIED MATLS INC	5.34%	New	1,207,737	$873.19M	$723.00
6	MDLN	MEDLINE INC	5.06%	Add +77.9%	20,968,367	$826.99M	$39.44
7	LIN	LINDE PLC	4.94%	New	1,558,081	$808.55M	$518.94
8	TER	TERADYNE INC	4.42%	Reduce -20.3%	1,493,080	$722.41M	$483.84
9	GLW	CORNING INC	4.26%	Reduce -26.6%	2,728,058	$696.83M	$255.43
10	CVNA	CARVANA CO	4.23%	Add +19.9%5:1 split	10,520,666	$692.47M	$65.82
11	HUT	HUT 8 CORP	4.07%	Reduce -5.0%	5,773,045	$666.47M	$115.44
12	PFGC	PERFORMANCE FOOD GROUP CO	4.00%	Add +47.1%	5,852,740	$654.28M	$111.79
13	NU	NU HLDGS LTD	3.86%	Add +24.2%	47,219,717	$630.86M	$13.36
14	WULF	TERAWULF INC	3.65%	Add +21.2%	24,144,625	$596.37M	$24.70
15	CRS	CARPENTER TECHNOLOGY CORP	3.63%	Reduce -47.0%	962,839	$593.92M	$616.84
16	MTZ	MASTEC INC	3.42%	Reduce -12.1%	1,345,157	$559.67M	$416.06
17	APP	APPLOVIN CORP	3.28%	Reduce -28.9%	1,042,268	$537.01M	$515.23
18	TTMI	TTM TECHNOLOGIES INC	3.13%	New	2,738,075	$512.07M	$187.02
19	STRL	STERLING INFRASTRUCTURE INC	3.13%	New	609,643	$511.71M	$839.36
20	USFD	US FOODS HLDG CORP	3.07%	Add +29.5%	4,914,492	$502.51M	$102.25
21	ONON	ON HLDG AG	2.88%	New	13,280,030	$470.38M	$35.42
22	LPLA	LPL FINL HLDGS INC	2.10%	Reduce -40.5%	1,219,099	$343.4M	$281.68
23	AGX	ARGAN INC	1.80%	Reduce -6.2%	368,673	$294.4M	$798.55
24	BTDR	BITDEER TECHNOLOGIES GROUP	0.68%	New	7,020,026	$111.41M	$15.87
25	SHAZ	SHARONAI HOLDINGS INC	0.63%	New	1,209,848	$102.43M	$84.66
26	GOOGL	ALPHABET INC	0.47%	Add +14.9%	215,574	$77.04M	$357.37
27	KGS	KODIAK GAS SVCS INC	0.39%	New	845,070	$63.49M	$75.13	No quote
28	V	VISA INC	0.35%	Add +78.9%	165,960	$56.94M	$343.09
29	IBKR	INTERACTIVE BROKERS GROUP IN	0.31%	New	577,666	$50.28M	$87.04
30	TSM	TAIWAN SEMICONDUCTOR MANUFAC	0.30%	Reduce -92.7%	101,242	$48.35M	$477.57
31	SE	SEA LTD	0.29%	New	494,581	$47.4M	$95.83
32	MCK	MCKESSON CORP	0.27%	Reduce -85.3%	57,851	$43.71M	$755.60
33	TDG	TRANSDIGM GROUP INC	0.23%	Reduce -20.0%	28,532	$38.01M	$1332.04
34	BN	BROOKFIELD CORP	0.21%	Reduce -92.9%	792,717	$33.76M	$42.59
49	VMC	VULCAN MATLS CO	-	Sold	0	$0	No quote	No quote
48	VST	VISTRA CORP	-	Sold	0	$0	No quote	No quote
47	THC	TENET HEALTHCARE CORP	-	Sold	0	$0	No quote	No quote
46	TLN	TALEN ENERGY CORP	-	Sold	0	$0	No quote	No quote
45	SPOT	SPOTIFY TECHNOLOGY S A	-	Sold	0	$0	No quote	No quote
44	MA	MASTERCARD INCORPORATED	-	Sold	0	$0	No quote	No quote
43	KKR	KKR & CO INC	-	Sold	0	$0	No quote	No quote
42	HLT	HILTON WORLDWIDE HLDGS INC	-	Sold	0	$0	No quote	No quote
41	ENTG	ENTEGRIS INC	-	Sold	0	$0	No quote	No quote
40	CLH	CLEAN HARBORS INC	-	Sold	0	$0	No quote	No quote
39	CIEN	CIENA CORP	-	Sold	0	$0	No quote	No quote
38	COF	CAPITAL ONE FINL CORP	-	Sold	0	$0	No quote	No quote
37	BSX	BOSTON SCIENTIFIC CORP	-	Sold	0	$0	No quote	No quote
36	BKNG	BOOKING HOLDINGS INC	-	Sold	0	$0	No quote	No quote
35	APH	AMPHENOL CORP	-	Sold	0	$0	No quote	No quote