Lone Pine Capital (Stephen Mandel) latest 13F portfolio: 36 holdings worth $12.5B as of Q1 2026.
Backtested since 2020: mirroring Lone Pine Capital's reported 13F equity holdings each quarter would have returned +96.4% versus +185.2%for the S&P 500 (+11.5% annualized). See the Performance tab for the full equity curve.
Investor: Stephen Mandel
Number of Assets: 36
Reporting Period: Q1 - 2026
Holdings at Report: $12,543,849,391
Return $ Since Report: +$1,497,915,769
Return % Since Report: +11.94%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Amphenol Corp. (APH) | Equity | -92.06% | 223,084 | 0.22% | $126.35 | $174.21 | $28,186,663 | $38,862,348 | +$10,675,685 | +37.87% |
| Applovin Corp. (APP) | Equity | +87.68% | 1,464,923 | 4.65% | $398.00 | $426.71 | $583,039,354 | $625,097,293 | +$42,057,939 | +7.21% |
| Argan Inc. (AGX) | Equity | +100% | 393,134 | 1.71% | $544.65 | $615.00 | $214,120,433 | $241,775,444 | +$27,655,011 | +12.92% |
| Boston Scientific Corp. (BSX) | Equity | -48.11% | 104,655 | 0.05% | $62.75 | $47.64 | $6,567,101 | $4,985,764 | -$1,581,337 | -24.08% |
| Brookfield Corp. (BN) | Equity | -29.61% | 11,208,969 | 3.62% | $40.47 | $44.28 | $453,626,975 | $496,333,147 | +$42,706,172 | +9.41% |
| Capital One Financial Corp. (COF) | Equity | -1.21% | 2,267,056 | 3.30% | $182.43 | $221.36 | $413,579,026 | $501,835,516 | +$88,256,490 | +21.34% |
| ASML Holding N.V. (ASML) | Equity | +8.29% | 655,148 | 6.90% | $1,320.83 | $1,691.61 | $865,339,133 | $1,108,251,633 | +$242,912,500 | +28.07% |
| Booking Holdings Inc. (BKNG) | Equity | -48.06% | 2,405 | 0.08% | $4,210.32 | $205.92 | $10,125,820 | $495,238 | -$9,630,582 | -95.11% |
| Clean Harbors Inc. (CLH) | Equity | +27.34% | 1,754,950 | 4.01% | $286.73 | $306.73 | $503,196,814 | $538,287,039 | +$35,090,225 | +6.97% |
| Alphabet Inc. (GOOGL) | Equity | +100% | 187,561 | 0.43% | $287.56 | $378.44 | $53,935,041 | $70,980,585 | +$17,045,544 | +31.60% |
| Carpenter Technology Corp. (CRS) | Equity | +38.46% | 1,817,940 | 5.71% | $394.15 | $579.78 | $716,541,051 | $1,054,005,253 | +$337,464,202 | +47.10% |
| Carvana Co. (CVNA) | Equity | -1.38% | 1,754,709 | 4.40% | $314.38 | $69.33 | $551,645,415 | $121,653,975 | -$429,991,440 | -77.95% |
| Ciena Corp. (CIEN) | Equity | +100% | 809,522 | 2.51% | $388.23 | $408.45 | $314,280,726 | $330,646,832 | +$16,366,106 | +5.21% |
| Corning Inc. (GLW) | Equity | +100% | 3,718,147 | 4.03% | $135.97 | $158.39 | $505,556,448 | $588,917,303 | +$83,360,855 | +16.49% |
| Entegris Inc. (ENTG) | Equity | +1.99% | 3,115,054 | 2.91% | $117.24 | $145.06 | $365,208,931 | $451,869,733 | +$86,660,802 | +23.73% |
| Mastec Inc. (MTZ) | Equity | +100% | 1,531,050 | 3.93% | $321.74 | $272.84 | $492,600,027 | $417,731,682 | -$74,868,345 | -15.20% |
| Mastercard Inc. (MA) | Equity | -40.62% | 57,201 | 0.23% | $499.66 | $569.39 | $28,581,052 | $32,569,391 | +$3,988,339 | +13.95% |
| Mckesson Corp. (MCK) | Equity | +100% | 392,224 | 2.71% | $865.36 | $843.64 | $339,414,961 | $330,895,855 | -$8,519,106 | -2.51% |
| Hut 8 Corp. (HUT) | Equity | +100% | 6,078,951 | 2.27% | $46.91 | $97.55 | $285,163,591 | $592,971,275 | +$307,807,684 | +107.94% |
| KKR & Co. Inc. (KKR) | Equity | -96.41% | 179,308 | 0.13% | $92.50 | $104.67 | $16,585,990 | $18,768,168 | +$2,182,178 | +13.16% |
| Lpl Financial Holdings Inc. (LPLA) | Equity | -1.20% | 2,049,967 | 4.92% | $300.83 | $360.28 | $616,691,573 | $738,551,861 | +$121,860,288 | +19.76% |
| Hilton Worldwide Holdings Inc. (HLT) | Equity | +54.36% | 89,249 | 0.22% | $304.08 | $322.27 | $27,138,836 | $28,762,275 | +$1,623,439 | +5.98% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | -54.48% | 1,389,530 | 3.74% | $337.95 | $416.60 | $469,591,664 | $578,882,367 | +$109,290,703 | +23.27% |
| Medline INC (MDLN) | Equity | +0.62% | 11,789,156 | 4.18% | $44.50 | $35.50 | $524,617,442 | $418,456,092 | -$106,161,350 | -20.24% |
| Nu Holdings Ltd. (NU) | Equity | +28.29% | 38,011,225 | 4.35% | $14.37 | $14.38 | $546,221,303 | $546,487,382 | +$266,079 | +0.05% |
| Performance Food Group Company (PFGC) | Equity | +100% | 3,978,158 | 2.72% | $85.66 | $112.34 | $340,769,014 | $446,886,379 | +$106,117,365 | +31.14% |
| Spotify Technology S.A. (SPOT) | Equity | +287.59% | 68,844 | 0.27% | $484.91 | $490.34 | $33,383,144 | $33,756,967 | +$373,823 | +1.12% |
| Talen Energy Corp. (TLN) | Equity | +40.65% | 1,817,947 | 4.63% | $319.23 | $336.17 | $580,343,221 | $611,139,243 | +$30,796,022 | +5.31% |
| Tenet Healthcare Corp. (THC) | Equity | +26.37% | 2,258,717 | 3.40% | $188.71 | $260.49 | $426,242,485 | $588,361,898 | +$162,119,413 | +38.03% |
| Teradyne Inc. (TER) | Equity | +100% | 1,872,876 | 4.43% | $296.46 | $395.36 | $555,232,819 | $740,450,891 | +$185,218,072 | +33.36% |
| Terawulf Inc. (WULF) | Equity | +100% | 19,921,430 | 2.29% | $14.43 | $18.57 | $287,466,235 | $369,940,955 | +$82,474,720 | +28.69% |
| Transdigm Group Inc. (TDG) | Equity | +85.55% | 35,677 | 0.33% | $1,158.96 | $1,241.07 | $41,348,216 | $44,277,654 | +$2,929,438 | +7.08% |
| Us Foods Holding Corp. (USFD) | Equity | +100% | 3,795,998 | 2.79% | $92.21 | $99.90 | $350,028,976 | $379,220,200 | +$29,191,224 | +8.34% |
| Visa Inc. (V) | Equity | +509.68% | 92,775 | 0.22% | $302.24 | $367.14 | $28,040,316 | $34,061,414 | +$6,021,098 | +21.47% |
| Vistra Corp. (VST) | Equity | +18.72% | 6,187,585 | 7.42% | $150.33 | $141.27 | $930,179,653 | $874,120,133 | -$56,059,520 | -6.03% |
| Vulcan Materials Company (VMC) | Equity | -91.44% | 144,179 | 0.31% | $272.30 | $287.67 | $39,259,942 | $41,475,973 | +$2,216,031 | +5.64% |