Lone Pine Capital (Stephen Mandel) latest 13F portfolio: 34 holdings worth $16.4B as of Q2 2026.
Backtested since 2020: mirroring Lone Pine Capital's reported 13F equity holdings each quarter would have returned +81.1% versus +186.6%for the S&P 500 (+9.8% annualized). See the Performance tab for the full equity curve.
Investor: Stephen Mandel
Number of Assets: 34
Reporting Period: Q2 - 2026
Holdings at Report: $16,357,760,275
Return $ Since Report: -$3,044,600,505
Return % Since Report: -18.61%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Carvana Co. (CVNA) | Equity | +499.57% | 10,520,666 | 4.23% | $65.82 | $66.62 | $692,470,236 | $700,834,166 | +$8,363,930 | +1.21% |
| Kodiak Gas Services Inc. (KGS) | Equity | +100% | 845,070 | 0.39% | $75.13 | $55.92 | $63,490,109 | $47,256,314 | -$16,233,795 | -25.57% |
| Carpenter Technology Corp. (CRS) | Equity | -47.04% | 962,839 | 3.63% | $616.84 | $397.12 | $593,917,609 | $382,362,624 | -$211,554,985 | -35.62% |
| Interactive Brokers Group Inc. (IBKR) | Equity | +100% | 577,666 | 0.31% | $87.04 | $91.23 | $50,280,049 | $52,700,469 | +$2,420,420 | +4.81% |
| Lpl Financial Holdings Inc. (LPLA) | Equity | -40.53% | 1,219,099 | 2.10% | $281.68 | $309.17 | $343,395,806 | $376,902,742 | +$33,506,936 | +9.76% |
| Medline INC (MDLN) | Equity | +77.86% | 20,968,367 | 5.06% | $39.44 | $33.95 | $826,992,394 | $711,771,218 | -$115,221,176 | -13.93% |
| On Holding AG (ONON) | Equity | +100% | 13,280,030 | 2.88% | $35.42 | $29.62 | $470,378,663 | $393,354,489 | -$77,024,174 | -16.37% |
| Linde PLC (LIN) | Equity | +100% | 1,558,081 | 4.94% | $518.94 | $464.18 | $808,550,554 | $723,230,039 | -$85,320,515 | -10.55% |
| Mckesson Corp. (MCK) | Equity | -85.25% | 57,851 | 0.27% | $755.60 | $893.66 | $43,712,216 | $51,699,125 | +$7,986,909 | +18.27% |
| Nu Holdings Ltd. (NU) | Equity | +24.23% | 47,219,717 | 3.86% | $13.36 | $13.96 | $630,855,419 | $659,187,249 | +$28,331,830 | +4.49% |
| Sharonai Holdings INC (SHAZ) | Equity | +100% | 1,209,848 | 0.63% | $84.66 | $62.95 | $102,425,731 | $76,159,932 | -$26,265,799 | -25.64% |
| Transdigm Group Inc. (TDG) | Equity | -20.03% | 28,532 | 0.23% | $1,332.04 | $1,106.06 | $38,005,765 | $31,558,104 | -$6,447,661 | -16.96% |
| Applied Materials Inc. (AMAT) | Equity | +100% | 1,207,737 | 5.34% | $723.00 | $468.03 | $873,193,851 | $565,257,148 | -$307,936,703 | -35.27% |
| ASML Holding N.V. (ASML) | Equity | -13.12% | 569,174 | 6.92% | $1,989.44 | $1,727.47 | $1,132,337,523 | $983,231,010 | -$149,106,513 | -13.17% |
| Corning Inc. (GLW) | Equity | -26.63% | 2,728,058 | 4.26% | $255.43 | $159.17 | $696,827,855 | $434,211,352 | -$262,616,503 | -37.69% |
| Sea Limited (SE) | Equity | +100% | 494,581 | 0.29% | $95.83 | $103.74 | $47,395,697 | $51,307,833 | +$3,912,136 | +8.25% |
| Teradyne Inc. (TER) | Equity | -20.28% | 1,493,080 | 4.42% | $483.84 | $393.36 | $722,411,827 | $587,317,949 | -$135,093,878 | -18.70% |
| Visa Inc. (V) | Equity | +78.88% | 165,960 | 0.35% | $343.09 | $363.46 | $56,939,216 | $60,319,822 | +$3,380,606 | +5.94% |
| Alphabet Inc. (GOOGL) | Equity | +14.94% | 215,574 | 0.47% | $357.37 | $351.78 | $77,039,680 | $75,834,622 | -$1,205,058 | -1.56% |
| Argan Inc. (AGX) | Equity | -6.22% | 368,673 | 1.80% | $798.55 | $378.48 | $294,403,824 | $139,535,357 | -$154,868,467 | -52.60% |
| Brookfield Corp. (BN) | Equity | -92.93% | 792,717 | 0.21% | $42.59 | $38.20 | $33,761,817 | $30,281,789 | -$3,480,028 | -10.31% |
| Hut 8 Corp. (HUT) | Equity | -5.03% | 5,773,045 | 4.07% | $115.44 | $106.70 | $666,469,180 | $615,983,902 | -$50,485,279 | -7.58% |
| Performance Food Group Company (PFGC) | Equity | +47.12% | 5,852,740 | 4.00% | $111.79 | $93.43 | $654,277,805 | $546,821,498 | -$107,456,307 | -16.42% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | -92.71% | 101,242 | 0.30% | $477.57 | $447.65 | $48,350,142 | $45,321,184 | -$3,028,958 | -6.26% |
| Us Foods Holding Corp. (USFD) | Equity | +29.47% | 4,914,492 | 3.07% | $102.25 | $94.78 | $502,506,807 | $465,795,552 | -$36,711,255 | -7.31% |
| Applovin Corp. (APP) | Equity | -28.85% | 1,042,268 | 3.28% | $515.23 | $324.92 | $537,007,742 | $338,653,719 | -$198,354,023 | -36.94% |
| Bitdeer Technologies Group (BTDR) | Equity | +100% | 7,020,026 | 0.68% | $15.87 | $13.09 | $111,407,813 | $91,857,040 | -$19,550,773 | -17.55% |
| The Home Depot Inc. (HD) | Equity | +100% | 2,603,189 | 5.61% | $352.68 | $303.73 | $918,092,697 | $790,666,595 | -$127,426,102 | -13.88% |
| Seagate Technology Holdings PLC (STX) | Equity | +100% | 1,000,109 | 5.90% | $965.00 | $903.62 | $965,105,185 | $903,713,494 | -$61,391,691 | -6.36% |
| Sterling Infrastructure Inc. (STRL) | Equity | +100% | 609,643 | 3.13% | $839.36 | $515.75 | $511,709,948 | $314,423,377 | -$197,286,571 | -38.55% |
| Ttm Technologies Inc. (TTMI) | Equity | +100% | 2,738,075 | 3.13% | $187.02 | $126.44 | $512,074,787 | $346,188,513 | -$165,886,274 | -32.39% |
| Mastec Inc. (MTZ) | Equity | -12.14% | 1,345,157 | 3.42% | $416.06 | $223.28 | $559,666,021 | $300,346,655 | -$259,319,366 | -46.33% |
| Nebius Group Nv (NBIS) | Equity | +100% | 4,258,008 | 7.19% | $276.17 | $234.13 | $1,175,934,069 | $996,906,123 | -$179,027,946 | -15.22% |
| Terawulf Inc. (WULF) | Equity | +21.20% | 24,144,625 | 3.65% | $24.70 | $17.49 | $596,372,238 | $422,168,768 | -$174,203,470 | -29.21% |