Stephen Mandel's portfolio
Concentrated long/short equity with quality growth tilt.
What changed in Q2 2026
Compared with the previous 13F. Values are as reported at quarter end. How to read a 13F.
New positions
- Home DepotHD$918M
- Applied MaterialsAMAT$873M
- Linde plc Ordinary SharesLIN$809M
- TTM TechnologiesTTMI$512M
- Sterling Construction CompanySTRL$512M
- Bitdeer Technologies Group Class A Ordinary SharesBTDR$111M
- SHAZSHAZ$102M
- Interactive BrokersIBKR$50M
Added to
- Medline Inc. Class A Common StockMDLN$827M
- CarvanaCVNA$692M
- Performance Food GroupPFGC$654M
- TerawulfWULF$596M
- US Foods HoldingUSFD$503M
- Alphabet Inc Class AGOOGL$77M
- Visa Inc. Class AV$57M
Trimmed
- TeradyneTER$722M
- CorningGLW$697M
- Hut 8 Corp. Common StockHUT$666M
- Carpenter TechnologyCRS$594M
- MasTecMTZ$560M
- ApplovinAPP$537M
- ArganAGX$294M
- Taiwan Semiconductor ManufacturingTSM$48M
- McKessonMCK$44M
- Transdigm GroupTDG$38M
Sold out
None this quarter.
Holdings
34 US-listed positions in the Q2 2026 13F, largest first.
| Stock | % of portfolio | Value | Shares | Last quarter |
|---|---|---|---|---|
| Nebius Group | 7.19% | $1.2B | 4,258,008 | Held |
| Asml Hldg Nv | 6.92% | $1.1B | 569,174 | Held |
| Seagate Technology Hldngs Pl | 5.90% | $965M | 1,000,109 | Held |
| Home DepotHD | 5.61% | $918M | 2,603,189 | New |
| Applied MaterialsAMAT | 5.34% | $873M | 1,207,737 | New |
| Medline Inc. Class A Common StockMDLN | 5.06% | $827M | 20,968,367 | Added |
| Linde plc Ordinary SharesLIN | 4.94% | $809M | 1,558,081 | New |
| TeradyneTER | 4.42% | $722M | 1,493,080 | Trimmed |
| CorningGLW | 4.26% | $697M | 2,728,058 | Trimmed |
| CarvanaCVNA | 4.23% | $692M | 10,520,666 | Added |
| Hut 8 Corp. Common StockHUT | 4.07% | $666M | 5,773,045 | Trimmed |
| Performance Food GroupPFGC | 4.00% | $654M | 5,852,740 | Added |
| Nu Hldgs | 3.86% | $631M | 47,219,717 | Held |
| TerawulfWULF | 3.65% | $596M | 24,144,625 | Added |
| Carpenter TechnologyCRS | 3.63% | $594M | 962,839 | Trimmed |
| MasTecMTZ | 3.42% | $560M | 1,345,157 | Trimmed |
| ApplovinAPP | 3.28% | $537M | 1,042,268 | Trimmed |
| TTM TechnologiesTTMI | 3.13% | $512M | 2,738,075 | New |
| Sterling Construction CompanySTRL | 3.13% | $512M | 609,643 | New |
| US Foods HoldingUSFD | 3.07% | $503M | 4,914,492 | Added |
| On Hldg Ag | 2.88% | $470M | 13,280,030 | Held |
| Lpl Finl Hldgs | 2.10% | $343M | 1,219,099 | Held |
| ArganAGX | 1.80% | $294M | 368,673 | Trimmed |
| Bitdeer Technologies Group Class A Ordinary SharesBTDR | 0.68% | $111M | 7,020,026 | New |
| SHAZSHAZ | 0.63% | $102M | 1,209,848 | New |
| Alphabet Inc Class AGOOGL | 0.47% | $77M | 215,574 | Added |
| Kodiak Gas Svcs | 0.39% | $63M | 845,070 | Held |
| Visa Inc. Class AV | 0.35% | $57M | 165,960 | Added |
| Interactive BrokersIBKR | 0.31% | $50M | 577,666 | New |
| Taiwan Semiconductor ManufacturingTSM | 0.30% | $48M | 101,242 | Trimmed |
| Sea | 0.29% | $47M | 494,581 | Held |
| McKessonMCK | 0.27% | $44M | 57,851 | Trimmed |
| Transdigm GroupTDG | 0.23% | $38M | 28,532 | Trimmed |
| BrookfieldBN | 0.21% | $34M | 792,717 | Trimmed |
By sector
Share of the reported value.
Reported value over time
Total 13F value at each quarter end.
Questions
What stocks does Stephen Mandel own?
In the Q2 2026 13F, Lone Pine Capital reported 34 US stock positions worth $16.4B. The largest: Nebius Group 7.2%, Asml Hldg Nv 6.9%, Seagate Technology Hldngs Pl 5.9%, Home Depot (HD) 5.6%, Applied Materials (AMAT) 5.3%.
What did Stephen Mandel buy last quarter?
In Q2 2026: new position in Home Depot (HD); new position in Applied Materials (AMAT); new position in Linde plc Ordinary Shares (LIN); added to Medline Inc. Class A Common Stock (MDLN); added to Carvana (CVNA); added to Performance Food Group (PFGC).
When is Stephen Mandel's next 13F?
13F filings are due 45 days after each quarter ends. The Q3 2026 filing is due by November 14, 2026.
More investors
13F filings list US-listed long positions (and some options) held at quarter end. They leave out short positions, cash, bonds and non-US holdings, and arrive up to 45 days after the quarter ends, so the investor may have traded since. Information only, not investment advice.