Stephen Mandel, Lone Pine Capital

Portfolio USD 16,357,763,000 across 34 positions as of 2026 Q2; history from 2008 Q1. Source: quarterly 13F filings via dataroma.com.

Positions, 2026 Q2

• YNDX Yandex N.V.: 7.2% of portfolio, USD 1,175,934,000, new
• ASML ASML Holding NV: 6.9% of portfolio, USD 1,132,338,000, reduce -13.12%
• STX Seagate Technology: 5.9% of portfolio, USD 965,105,000, new
• HD Home Depot: 5.6% of portfolio, USD 918,093,000, new
• AMAT Applied Materials: 5.3% of portfolio, USD 873,194,000, new
• MDLN Medline Inc Cl A: 5.1% of portfolio, USD 826,992,000, add +77.86%
• LIN Linde plc: 4.9% of portfolio, USD 808,551,000, new
• TER Teradyne Inc.: 4.4% of portfolio, USD 722,412,000, reduce -20.28%
• GLW Corning Inc.: 4.3% of portfolio, USD 696,828,000, reduce -26.63%
• CVNA Carvana Co.: 4.2% of portfolio, USD 692,470,000, add +19.91%
• HUT Hut 8 Corp: 4.1% of portfolio, USD 666,469,000, reduce -5.03%
• PFGC Performance Food Group: 4.0% of portfolio, USD 654,278,000, add +47.12%
• NU Nu Holdings Ltd: 3.9% of portfolio, USD 630,855,000, add +24.23%
• WULF Terawulf Inc: 3.7% of portfolio, USD 596,372,000, add +21.2%
• CRS Carpenter Technology: 3.6% of portfolio, USD 593,918,000, reduce -47.04%
• MTZ MasTec Inc.: 3.4% of portfolio, USD 559,666,000, reduce -12.14%
• APP Applovin Corp.: 3.3% of portfolio, USD 537,008,000, reduce -28.85%
• TTMI TTM Technologies Inc.: 3.1% of portfolio, USD 512,075,000, new
• STRL Sterling Construction Co. Inc.: 3.1% of portfolio, USD 511,710,000, new
• USFD US Foods Holding Corp.: 3.1% of portfolio, USD 502,507,000, add +29.47%
• ONON On Holding AG: 2.9% of portfolio, USD 470,379,000, new
• LPLA LPL Financial Holdings Inc.: 2.1% of portfolio, USD 343,396,000, reduce -40.53%
• AGX Argan Inc.: 1.8% of portfolio, USD 294,404,000, reduce -6.22%
• BTDR Bitdeer Technologies Group A: 0.7% of portfolio, USD 111,408,000, new
• SHAZ Sharonai Holdings Inc: 0.6% of portfolio, USD 102,426,000, new
• GOOGL Alphabet Inc.: 0.5% of portfolio, USD 77,040,000, add +14.94%
• KGS Kodiak Gas Services Inc: 0.4% of portfolio, USD 63,490,000, new
• V Visa Inc.: 0.4% of portfolio, USD 56,939,000, add +78.88%
• IBKR Interactive Brokers Group Inc.: 0.3% of portfolio, USD 50,280,000, new
• TSM Taiwan Semiconductor S.A.: 0.3% of portfolio, USD 48,350,000, reduce -92.71%
• SE Sea Ltd: 0.3% of portfolio, USD 47,396,000, new
• MCK McKesson Corp.: 0.3% of portfolio, USD 43,712,000, reduce -85.25%
• TDG TransDigm Group Inc.: 0.2% of portfolio, USD 38,006,000, reduce -20.03%
• BN Brookfield Corp.: 0.2% of portfolio, USD 33,762,000, reduce -92.93%

Portfolio value, all published quarters

• 2008 Q1: USD 7,010,880,108
• 2008 Q2: USD 6,825,239,940
• 2008 Q3: USD 5,178,991,822
• 2008 Q4: USD 5,829,821,185
• 2009 Q1: USD 6,312,613,791
• 2009 Q2: USD 7,021,486,071
• 2009 Q3: USD 7,728,880,877
• 2009 Q4: USD 9,802,039,544
• 2010 Q1: USD 10,307,105,941
• 2010 Q2: USD 9,328,014,095
• 2010 Q3: USD 10,733,934,762
• 2010 Q4: USD 11,279,384,219
• 2011 Q1: USD 12,105,997,723
• 2011 Q2: USD 12,899,639,451
• 2011 Q3: USD 12,014,657,210
• 2011 Q4: USD 13,065,512,794
• 2012 Q1: USD 15,516,646,153
• 2012 Q2: USD 15,708,164,650
• 2012 Q3: USD 15,494,441,988
• 2012 Q4: USD 15,498,912,313
• 2013 Q1: USD 18,638,007,559
• 2013 Q2: USD 19,485,320,537
• 2013 Q3: USD 20,973,390,195
• 2013 Q4: USD 21,562,540,077
• 2014 Q1: USD 22,264,210,382
• 2014 Q2: USD 24,004,714,141
• 2014 Q3: USD 25,009,448,273
• 2014 Q4: USD 23,416,705,582
• 2015 Q1: USD 23,425,219,242
• 2015 Q2: USD 22,507,981,931
• 2015 Q3: USD 22,388,116,333
• 2015 Q4: USD 22,438,838,256
• 2016 Q1: USD 19,659,972,935
• 2016 Q2: USD 21,629,332,989
• 2016 Q3: USD 22,358,389,909
• 2016 Q4: USD 19,103,872,939
• 2017 Q1: USD 19,007,166,922
• 2017 Q2: USD 19,655,768,910
• 2017 Q3: USD 20,299,612,099
• 2017 Q4: USD 19,146,728,596
• 2018 Q1: USD 19,744,979,681
• 2018 Q2: USD 18,911,639,199
• 2018 Q3: USD 19,440,872,828
• 2018 Q4: USD 14,774,014,820
• 2019 Q1: USD 17,107,383,918
• 2019 Q2: USD 16,088,149,079
• 2019 Q3: USD 16,993,812,569
• 2019 Q4: USD 18,668,591,477
• 2020 Q1: USD 16,427,148,067
• 2020 Q2: USD 19,475,127,759
• 2020 Q3: USD 23,285,350,321
• 2020 Q4: USD 27,518,091,358
• 2021 Q1: USD 27,533,928,801
• 2021 Q2: USD 31,029,462,312
• 2021 Q3: USD 29,670,718,317
• 2021 Q4: USD 24,411,303,462
• 2022 Q1: USD 16,804,893,159
• 2022 Q2: USD 10,610,786,641
• 2022 Q3: USD 10,611,417,668
• 2022 Q4: USD 10,478,785,207
• 2023 Q1: USD 10,800,750,417
• 2023 Q2: USD 10,910,106,830
• 2023 Q3: USD 10,371,381,602
• 2023 Q4: USD 11,561,118,458
• 2024 Q1: USD 12,666,376,403
• 2024 Q2: USD 12,331,778,047
• 2024 Q3: USD 13,404,309,455
• 2024 Q4: USD 13,463,227,853
• 2025 Q1: USD 11,413,228,592
• 2025 Q2: USD 13,811,639,419
• 2025 Q3: USD 13,744,342,641
• 2025 Q4: USD 13,611,101,957
• 2026 Q1: USD 12,541,376,287
• 2026 Q2: USD 16,357,763,000