Stephen Mandel
Lone Pine Capital
Founded Lone Pine, a 'Tiger Cub' growth fund, and later handed over the portfolio management. The 13F is Lone Pine's.
13F portfolio value
Q2 2026
$16.36B
1-year growth
+18.4%
2-year growth
+32.7%
Positions
34
Top 10 share
53.9%
Quarterly turnover
46.9%
Last filed
Aug 14, 2026
Q2 2026: summary
MakklerAI- Lone Pine opened NBIS at 7.2% ($1.2B), Seagate Technology at 5.9% ($965M), HD at 5.6% ($918M) and AMAT at 5.3% ($873M).
- It sold out of VST, previously 7.4% of the portfolio, and 14 other positions; TSM was cut 92.7% to a 0.3% weight.
- MDLN grew 77.9% to 5.1% of the portfolio, while CVNA rose 19.9% to 4.2%; CRS was cut 47.0%.
- The portfolio reached $16.4B from $12.5B in the prior quarter, with 34 positions versus 36; turnover rose to 46.9% from 39.8%, and the top ten held 53.9%.
PROStill at the same price?
A 13F arrives 45 days late. See the estimated buy price of the other 32 positions, the move since, and where each stands against Makkler Fair Value with MakklerPRO.
NBISNebius Group N.V. Class A7.2%New- Price
- $206.86
- Since est. buy
- +4.5%
- Fair Value gap
- -69.2%
- ASAsml Holding N VAsml Holding N V6.9%-13.1%
- Price
- —
- Since est. buy
- —
- Fair Value gap
- —
- SESeagate Technology Hldngs PlSeagate Technology Hldngs Pl5.9%New
- Price
- —
- Since est. buy
- Fair Value gap
HDHome Depot, Inc.5.6%New- Price
- $293.92
- Since est. buy
- Fair Value gap
AMATApplied Materials, Inc.5.3%New- Price
- $464.24
- Since est. buy
- Fair Value gap
MDLNMedline, Inc. Class A5.1%+77.9%- Price
- $35.70
- Since est. buy
- Fair Value gap
LINLinde plc4.9%New- Price
- $492.11
- Since est. buy
- Fair Value gap
TERTeradyne, Inc.4.4%-20.3%- Price
- $380.29
- Since est. buy
- Fair Value gap
GLWCorning Inc4.3%-26.6%- Price
- $148.54
- Since est. buy
- Fair Value gap
CVNACarvana Co. Class A4.2%+19.9%- Price
- $60.39
- Since est. buy
- Fair Value gap
HUTHut 8 Corp.4.1%-5.0%- Price
- $83.61
- Since est. buy
- Fair Value gap
PFGCPerformance Food Group Co4.0%+47.1%- Price
- $94.68
- Since est. buy
- Fair Value gap
NUNu Holdings Ltd. Class A3.9%+24.2%- Price
- $15.58
- Since est. buy
- Fair Value gap
WULFTeraWulf Inc.3.6%+21.2%- Price
- $13.21
- Since est. buy
- Fair Value gap
CRSCarpenter Technology Corporation3.6%-47.0%- Price
- $380.42
- Since est. buy
- Fair Value gap
MTZMasTec, Inc.3.4%-12.1%- Price
- $206.12
- Since est. buy
- Fair Value gap
APPAppLovin Corp. Class A3.3%-28.9%- Price
- $272.28
- Since est. buy
- Fair Value gap
TTMITTM Technologies, Inc.3.1%New- Price
- $116.10
- Since est. buy
- Fair Value gap
STRLSterling Infrastructure, Inc.3.1%New- Price
- $498.61
- Since est. buy
- Fair Value gap
USFDUS Foods Holding Corp.3.1%+29.5%- Price
- $97.91
- Since est. buy
- Fair Value gap
- ONOn Hldg AgOn Hldg Ag2.9%New
- Price
- —
- Since est. buy
- Fair Value gap
LPLALPL Financial Holdings Inc.2.1%-40.5%- Price
- $325.63
- Since est. buy
- Fair Value gap
AGXArgan, Inc.1.8%-6.2%- Price
- $388.10
- Since est. buy
- Fair Value gap
BTDRBitdeer Technologies Group Class A0.7%New- Price
- $9.21
- Since est. buy
- Fair Value gap
SHAZSharonAI Holdings, Inc. Class A0.6%New- Price
- $34.71
- Since est. buy
- Fair Value gap
GOOGLAlphabet Inc. Class A0.5%+14.9%- Price
- $353.78
- Since est. buy
- Fair Value gap
KGSKodiak Gas Services, Inc.0.4%New- Price
- $52.00
- Since est. buy
- Fair Value gap
VVisa Inc. Class A0.3%+78.9%- Price
- $396.06
- Since est. buy
- Fair Value gap
IBKRInteractive Brokers Group, Inc. Class A0.3%New- Price
- $87.49
- Since est. buy
- Fair Value gap
TSMTaiwan Semiconductor-Sp Adr0.3%-92.7%- Price
- $445.12
- Since est. buy
- Fair Value gap
SESea Ltd-Adr0.3%New- Price
- $95.93
- Since est. buy
- Fair Value gap
MCKMcKesson Corporation0.3%-85.3%- Price
- $961.88
- Since est. buy
- Fair Value gap
TDGTransDigm Group Incorporated0.2%-20.0%- Price
- $1,112.39
- Since est. buy
- Fair Value gap
BNBrookfield Corporation0.2%-92.9%- Price
- $36.67
- Since est. buy
- Fair Value gap
Values are US dollar amounts as of the filing. The estimated buy price is the quarter's average close; Fair Value is the same model as on Makkler's stock pages.
MakklerAI
Ask MakklerAI about Stephen Mandel's portfolio
Explore this quarter's moves and where each position stands against its estimated buy price and Makkler Fair Value. Answers are based on the 13F and today's prices.