Lone Pine Capital
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Stephen Mandel's Lone Pine Capital reported 34 stock positions worth $16.4 billion. Its top holding was Nebius (NBIS) at 7.2% of the portfolio, followed by ASML Holding NV-NY Reg SHS (ASML, 6.9%) and Seagate Technology (STX, 5.9%). Compared with Q1 2026, it opened 13 new positions, sold out of 15, added to 8 and reduced 13. The biggest buy was a new position in Nebius (NBIS) and the biggest sale an exit from Vistra (VST).
- Most Recent 13F
- Q2 2026
- Notable People
- Stephen Mandel
- Location
- GREENWICH, CT
- CIK
- 0001061165
- Portfolio Value
- $16.4B (Q2 2026)
- SEC Filing
- 0000919574-26-005485 ↗ filed Aug 14, 2026
Holdings Value
Holdings 34 stocks · $16.4B
| NBIS Nebius Group NV | 7.19% | 4,258,008 | $1.2B | New |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 6.92% | 569,174 | $1.1B | Reduce -13.1% |
| STX Seagate Technology Holdings | 5.90% | 1,000,109 | $965.1M | New |
| HD Home Depot Inc. | 5.61% | 2,603,189 | $918.1M | New |
| AMAT Applied Materials Inc. | 5.34% | 1,207,737 | $873.2M | New |
| MDLN Medline Inc. Class A | 5.06% | 20,968,367 | $827.0M | Add +77.9% |
| LIN Linde PLC | 4.94% | 1,558,081 | $808.6M | New |
| TER Teradyne Inc. | 4.42% | 1,493,080 | $722.4M | Reduce -20.3% |
| GLW Corning Inc. | 4.26% | 2,728,058 | $696.8M | Reduce -26.6% |
| CVNA Carvana Co. | 4.23% | 10,520,666 | $692.5M | Add +19.9% |
| HUT Hut 8 Corp. | 4.07% | 5,773,045 | $666.5M | Reduce -5.0% |
| PFGC Performance Food Group Co. | 4.00% | 5,852,740 | $654.3M | Add +47.1% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 3.86% | 47,219,717 | $630.9M | Add +24.2% |
| WULF Terawulf Inc. | 3.65% | 24,144,625 | $596.4M | Add +21.2% |
| CRS Carpenter Technology | 3.63% | 962,839 | $593.9M | Reduce -47.0% |
| MTZ Mastec Inc. | 3.42% | 1,345,157 | $559.7M | Reduce -12.1% |
| APP AppLovin Corp. Class A | 3.28% | 1,042,268 | $537.0M | Reduce -28.9% |
| TTMI TTM Technologies | 3.13% | 2,738,075 | $512.1M | New |
| STRL Sterling Infrastructure Inc. | 3.13% | 609,643 | $511.7M | New |
| USFD US Foods Holding Corp. | 3.07% | 4,914,492 | $502.5M | Add +29.5% |
| ONON On Holding AG Class A filed as ON HLDG AG | 2.88% | 13,280,030 | $470.4M | New |
| LPLA LPL Financial Holdings Inc. | 2.10% | 1,219,099 | $343.4M | Reduce -40.5% |
| AGX Argan Inc. | 1.80% | 368,673 | $294.4M | Reduce -6.2% |
| BTDR Bitdeer Technologies Group-A | 0.68% | 7,020,026 | $111.4M | New |
| SHAZ Sharonai Holdings Inc. | 0.63% | 1,209,848 | $102.4M | New |
| GOOGL Alphabet Inc. Class A | 0.47% | 215,574 | $77.0M | Add +14.9% |
| KGS Kodiak Gas Services Inc. | 0.39% | 845,070 | $63.5M | New |
| V Visa Inc. Class A | 0.35% | 165,960 | $56.9M | Add +78.9% |
| IBKR Interactive Brokers Gro Class A | 0.31% | 577,666 | $50.3M | New |
| TSM Taiwan Semiconductor-SP ADR | 0.30% | 101,242 | $48.4M | Reduce -92.7% |
| SE Sea Ltd.-ADR | 0.29% | 494,581 | $47.4M | New |
| MCK McKesson Corp. | 0.27% | 57,851 | $43.7M | Reduce -85.3% |
| TDG Transdigm Group Inc. | 0.23% | 28,532 | $38.0M | Reduce -20.0% |
| BN Brookfield Corp. | 0.21% | 792,717 | $33.8M | Reduce -92.9% |
Portfolio Sells Q1 2026 → Q2 2026
| VST Vistra Corp. | Sold out | 0.00% | −7.42 |
| TLN Talen Energy Corp. | Sold out | 0.00% | −4.63 |
| CLH Clean Harbors Inc. | Sold out | 0.00% | −4.01 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -92.7% | 0.30% | −3.45 |
| BN Brookfield Corp. | Reduce -92.9% | 0.21% | −3.41 |
| THC Tenet Healthcare Corp. | Sold out | 0.00% | −3.40 |
| COF Capital One Financial Corp. | Sold out | 0.00% | −3.30 |
| ENTG Entegris Inc. | Sold out | 0.00% | −2.91 |
| LPLA LPL Financial Holdings Inc. | Reduce -40.5% | 2.10% | −2.82 |
| CIEN Ciena Corp. | Sold out | 0.00% | −2.51 |
| MCK McKesson Corp. | Reduce -85.3% | 0.27% | −2.44 |
| CRS Carpenter Technology | Reduce -47.0% | 3.63% | −2.08 |
| APP AppLovin Corp. Class A | Reduce -28.9% | 3.28% | −1.37 |
| MTZ Mastec Inc. | Reduce -12.1% | 3.42% | −0.51 |
| VMC Vulcan Materials Co. | Sold out | 0.00% | −0.31 |
| SPOT Spotify Technology SA | Sold out | 0.00% | −0.27 |
| MA Mastercard Inc. Class A | Sold out | 0.00% | −0.23 |
| APH Amphenol Corp. Class A | Sold out | 0.00% | −0.22 |
| HLT Hilton Worldwide Holdings Inc. | Sold out | 0.00% | −0.22 |
| KKR KKR & Co. Inc. | Sold out | 0.00% | −0.13 |
| TDG Transdigm Group Inc. | Reduce -20.0% | 0.23% | −0.10 |
| BKNG Booking Holdings Inc. | Sold out | 0.00% | −0.08 |
| BSX Boston Scientific Corp. | Sold out | 0.00% | −0.05 |
| TER Teradyne Inc. | Reduce -20.3% | 4.42% | −0.01 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -13.1% | 6.92% | +0.02 |
| AGX Argan Inc. | Reduce -6.2% | 1.80% | +0.09 |
| GLW Corning Inc. | Reduce -26.6% | 4.26% | +0.23 |
| HUT Hut 8 Corp. | Reduce -5.0% | 4.07% | +1.80 |
Portfolio Buys Q1 2026 → Q2 2026
| NBIS Nebius Group NV | New | 7.19% | +7.19 |
| STX Seagate Technology Holdings | New | 5.90% | +5.90 |
| HD Home Depot Inc. | New | 5.61% | +5.61 |
| AMAT Applied Materials Inc. | New | 5.34% | +5.34 |
| LIN Linde PLC | New | 4.94% | +4.94 |
| TTMI TTM Technologies | New | 3.13% | +3.13 |
| STRL Sterling Infrastructure Inc. | New | 3.13% | +3.13 |
| ONON On Holding AG Class A | New | 2.88% | +2.88 |
| WULF Terawulf Inc. | Add +21.2% | 3.65% | +1.35 |
| PFGC Performance Food Group Co. | Add +47.1% | 4.00% | +1.28 |
| MDLN Medline Inc. Class A | Add +77.9% | 5.06% | +0.87 |
| BTDR Bitdeer Technologies Group-A | New | 0.68% | +0.68 |
| SHAZ Sharonai Holdings Inc. | New | 0.63% | +0.63 |
| KGS Kodiak Gas Services Inc. | New | 0.39% | +0.39 |
| IBKR Interactive Brokers Gro Class A | New | 0.31% | +0.31 |
| SE Sea Ltd.-ADR | New | 0.29% | +0.29 |
| USFD US Foods Holding Corp. | Add +29.5% | 3.07% | +0.28 |
| V Visa Inc. Class A | Add +78.9% | 0.35% | +0.12 |
| GOOGL Alphabet Inc. Class A | Add +14.9% | 0.47% | +0.04 |
| CVNA Carvana Co. | Add +19.9% | 4.23% | −0.16 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +24.2% | 3.86% | −0.50 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 34 | $16.4B | NBIS, ASML, STX, HD, AMAT |
| Q1 2026 | 36 | $12.5B | VST, ASML, CRS, LPLA, APP |
| Q4 2025 | 32 | $13.6B | TSM, VST, CVNA, LPLA, BN |
| Q3 2025 | 25 | $13.7B | META, VST, TSM, APP, LPLA |
| Q2 2025 | 22 | $13.8B | VST, META, AMZN, MSFT, TSM |
| Q1 2025 | 22 | $11.4B | META, INTU, AMZN, MSFT, SBUX |
| Q4 2024 | 30 | $13.5B | META, AMZN, PM, TSM, VST |
| Q3 2024 | 29 | $13.4B | META, AMZN, VST, TSM, MSFT |
| Q2 2024 | 24 | $12.3B | TSM, MSFT, AMZN, META, PM |
| Q1 2024 | 26 | $12.7B | META, TSM, MSFT, AMZN, CRM |