Great investors · Stephen Mandel
Stephen Mandel portfolio · Q2 2026
Stephen Mandel, founder of Lone Pine Capital. This is the stock portfolio Lone Pine Capital reported to the SEC (Form 13F) as of Jun 30, 2026, filed on Aug 14, 2026.
The 13F is filed by the firm, not the person: when this page says what Stephen Mandel “owns” or “bought”, it means the positions of Lone Pine Capital as a whole.
Next 13F: Q3 2026 usually filed ~Nov 16, 2026; deadline Nov 16, 2026. See the quarter page →
What stocks does Stephen Mandel own?
The largest positions of Lone Pine Capital in Q2 2026 are NBIS, ASML, STX, HD, AMAT.
- 1Nebius GroupNBISNew7.2%Since Q2 2026 · 1 quarterIt bought in 1 quarter. Quarter-end price of that quarter per 13F: $276.17.
- 2ASML HoldingASMLReduced6.9%Since Q4 2025 · 3 quartersIt bought in 2 quarters. Quarter-end prices of those quarters per 13F: $1,069.86 to $1,320.83.
- 3Seagate Technology HoldingsSTXNew5.9%Since Q2 2026 · 1 quarterIt bought in 1 quarter. Quarter-end price of that quarter per 13F: $965.00.
- 4Home DepotHDNew5.6%Since Q2 2026 · 1 quarterIt bought in 1 quarter. Quarter-end price of that quarter per 13F: $352.68.
- 5Applied MaterialsAMATNew5.3%Since Q2 2026 · 1 quarterIt bought in 1 quarter. Quarter-end price of that quarter per 13F: $723.00.
- 6MedlineMDLNIncreased5.1%Since Q4 2025 · 3 quartersIt bought in 2 quarters. Quarter-end prices of those quarters per 13F: $39.44 to $42.00.
- 7LindeLINNew4.9%Since Q2 2026 · 1 quarterIt bought in 1 quarter. Quarter-end price of that quarter per 13F: $518.94.
- 8TeradyneTERReduced4.4%Since Q1 2026 · 2 quartersIt bought in 1 quarter. Quarter-end price of that quarter per 13F: $296.46.
- 9CorningGLWReduced4.3%Since Q1 2026 · 2 quartersIt bought in 1 quarter. Quarter-end price of that quarter per 13F: $135.97.
- 10CarvanaCVNAIncreased4.2%Since Q1 2025 · 6 quartersIt bought in 2 quarters. Quarter-end prices of those quarters per 13F: $41.82 to $65.82.
“Since”: first quarter of the current run, unbroken until today. Prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
What did Stephen Mandel buy in Q2 2026?
- NewNebius GroupNBIS7.2% of portfolio
- NewSeagate Technology HoldingsSTX5.9% of portfolio
- NewHome DepotHD5.6% of portfolio
- NewApplied MaterialsAMAT5.3% of portfolio
- NewLindeLIN4.9% of portfolio
- NewTTM TechnologiesTTMI3.1% of portfolio
- NewSterling InfrastructureSTRL3.1% of portfolio
- NewOn HoldingONON2.9% of portfolio
What did Stephen Mandel sell in Q2 2026?
- Sold outVistra OperationsVSTwas 7.4%
- Sold outTalen EnergyTLNwas 4.6%
- ReducedCarpenter TechnologyCRS−47% shares · 3.6% of portfolio
- Sold outClean HarborsCLHwas 4.0%
- ReducedTaiwan Semiconductor ManufacturingTSM−93% shares · 0.3% of portfolio
- ReducedBrookfieldBN−93% shares · 0.2% of portfolio
- Sold outTenet HealthcareTHCwas 3.4%
- Sold outCapital One FinancialCOFwas 3.3%
21 positions opened or added to and 28 trimmed or closed, against the previous quarter's 13F. Each is measured the same way across the page: how much the share count changed and its weight in the portfolio today (share classes of the same company added together). The 13F has 49 positions with a change, 32 of them material (0.5 points of the portfolio or more). All full exits are listed, even those that moved less than 0.5 points of the portfolio.
How its portfolio changed (8 quarters)
Q2 2026: 34
Q2 2026: 54%
Q2 2026: 43.7%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Source: SEC 13F filings show the portfolio at quarter end and are filed up to 45 days later: positions may have changed. They only cover U.S.-listed stocks and some others; no short positions or cash. Not investment advice.