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← Stephen Mandel

Stephen Mandel's 2025Q4 portfolio

Stephen Mandel (Lone Pine Capital) held 24 positions as of Dec 31, 2025, with the largest position at 6.8% of the portfolio.

Showing positions still held at the most recent quarter so their historical weights can be reconstructed. Positions that were held in 2025Q4but have since been exited aren't included in this table — for a full point-in-time reconstruction, use the SEC EDGAR filing directly.

Holdings as of Dec 31, 2025 (24)

  1. 1TSMTaiwan Semiconductor-sp Adr
    % port
    6.8%
    +0.6pp vs prior Qnow 3.7%
  2. 2VSTVistra Corp
    % port
    6.2%
    -0.5pp vs prior Qnow 7.4%
  3. 3CVNACarvana CO
    % port
    5.5%
    +0.7pp vs prior Qnow 4.4%
  4. 4LPLALpl Financial Holdings Inc
    % port
    5.4%
    now 4.9%
  5. 5BNBrookfield Corp
    % port
    5.4%
    +0.3pp vs prior Qnow 3.6%
  6. 6ASMLAsml Hldg NV
    % port
    4.8%
    now 6.9%
  7. 7KKRKkr & CO Inc
    % port
    4.7%
    +0.8pp vs prior Qnow 0.1%
  8. 8COFCapital One Financial Corp
    % port
    4.1%
    +0.1pp vs prior Qnow 3.3%
  9. 9APPApplovin Corp-class A
    % port
    3.9%
    -1.9pp vs prior Qnow 4.6%
  10. 10NUNU Hldgs Ltd
    % port
    3.6%
    +0.7pp vs prior Qnow 4.4%
  11. 11MDLNMedline Inc-cl A
    % port
    3.6%
    now 4.2%
  12. 12TLNTalen Energy Corp
    % port
    3.6%
    -0.1pp vs prior Qnow 4.6%
  13. 13VMCVulcan Materials CO
    % port
    3.5%
    +0.4pp vs prior Qnow 0.3%
  14. 14CRSCarpenter Technology
    % port
    3.0%
    now 5.7%
  15. 15APHAmphenol Corp-cl A
    % port
    2.8%
    now 0.2%
  16. 16THCTenet Healthcare Corp
    % port
    2.6%
    now 3.4%
  17. 17CLHClean Harbors Inc
    % port
    2.4%
    now 4.0%
  18. 18ENTGEntegris Inc
    % port
    1.9%
    now 2.9%
  19. 19MAMastercard Inc - A
    % port
    0.4%
    now 0.2%
  20. 20TDGTransdigm Group Inc
    % port
    0.2%
    now 0.3%
  21. 21BKNGBooking Holdings Inc
    % port
    0.2%
    -1.0pp vs prior Qnow 0.1%
  22. 22BSXBoston Scientific Corp
    % port
    0.1%
  23. 23HLTHilton Worldwide Holdings IN
    % port
    0.1%
  24. 24SPOTSpotify Technology S A
    % port
    0.1%
    now 0.3%

13F-HR filings disclose long US-equity positions only. 13Fs don't cover shorts, bonds, derivatives, or non-US listings, so the picture here is the public part of the portfolio — not the whole.

Not investment advice.