What Stephen Mandel bought and sold in Q4 2025
In Q4 2025, Stephen Mandel (Lone Pine Capital) opened 14 new positions — including ASML (4.8%), DASH (4.2%), MDLN (3.6%), added to 3, trimmed 3, exited 7 (META, SBUX, EQT). The book stood at $13.61B across 32 positions, filed Feb 17, 2026.
14New3Added3Trimmed7Exited
New positions (14)
- ASMLAsml Holding N V4.8% · $647M
- DASHDoordash Inc - A4.2% · $573M
- MDLNMedline Inc-cl A3.6% · $492M
- CRSCarpenter Technology3.0% · $413M
- THCTenet Healthcare Corp2.6% · $355M
- CLHClean Harbors Inc2.4% · $323M
- AFRMAffirm Holdings Inc2.1% · $284M
- ENTGEntegris Inc1.9% · $257M
- MAMastercard Inc - A0.4% · $55M
- TDGTransdigm Group Inc0.2% · $26M
- BSXBoston Scientific Corp0.1% · $19M
- HLTHilton Worldwide Holdings IN0.1% · $17M
- SPOTSpotify Technology S A0.1% · $10M
- VVisa Inc-class A Shares<0.1% · $5M
Added to (3)
Trimmed (3)
Exited (7)
Stephen Mandel's other filings
Changes vs the prior quarter's 13F, long US equity positions only (no shorts, options, or non-US listings). ADD/TRIM are share- count changes of ±20% or more. Sourced from SEC EDGAR. Not investment advice.