Stephen Mandel's Portfolio

Lone Pine Capital 13F holdings

What is Stephen Mandel's portfolio?

Lone Pine Capital has disclosed a total of 32 security holdings in their (2025 Q4) SEC 13F filing(s) with portfolio value of $13,611,137,640.

What stocks does Stephen Mandel own?

In Stephen Mandel's portfolio as of 31 Dec 2025, the top 5 holdings are (TSM) TAIWAN SEMICONDUCTOR-SP ADR (6.81%), (VST) VISTRA CORP (6.18%), (CVNA) CARVANA CO (5.52%), (LPLA) LPL FINANCIAL HOLDINGS INC (5.44%) and (BN) BROOKFIELD CORP (5.37%).

To see the historical data of Lone Pine Capital's portfolio holdings please click on the "2025 Q4" dropdown menu and select the date.

To see Lone Pine Capital's original 13F reports (2025 Q4), please click on the "important" button.

Portfolio value: $13B+
Period: 2025 Q4
Number of stock: 32
Update: 17 Feb 2026
Important
History
Ticker
Stock
% of
Portfolio
Shares*
Reported
Price*
% difference
Current Price
Value
% (shares)
Activity
% change to
Portfolio
MSFT
MICROSOFT CORP
4.39%
1,234,125
$483.62
13.84% $416.67
$596,847,533
+2.11% (+25,520)
+0.09%
NU
NU HOLDINGS LTD/CAYMAN ISL-A
3.64%
29,630,237
$16.74
28.49% $11.97
$496,010,167
+16.62% (+4,223,788)
+0.52%
PM
PHILIP MORRIS INTERNATIONAL
3.12%
2,643,579
$160.40
11.15% $178.29
$424,030,072
-42.71% (-1,970,864)
-2.32%
SPOT
SPOTIFY TECHNOLOGY SA
0.08%
17,762
$580.71
14.42% $496.95
$10,314,571
buy
+0.08%
TSM
TAIWAN SEMICONDUCTOR-SP ADR
6.82%
3,052,400
$303.89
-
$927,593,836
TLN
TALEN ENERGY CORP
3.56%
1,292,516
$374.84
2.69% $364.74
$484,486,697
+8.39% (+100,000)
+0.28%
THC
TENET HEALTHCARE CORP
2.61%
1,787,326
$198.72
18.45% $162.06
$355,177,423
buy
+2.61%
TDG
TRANSDIGM GROUP INC
0.19%
19,228
$1,329.85
6.85% $1,238.74
$25,570,356
buy
+0.19%
V
VISA INC-CLASS A SHARES
0.04%
15,217
$350.71
7.74% $323.57
$5,336,754
buy
+0.04%
VST
VISTRA CORP
6.18%
5,211,885
$161.33
7.79% $148.76
$840,833,407
+10.91% (+512,644)
+0.61%
VMC
VULCAN MATERIALS CO
3.53%
1,683,932
$285.22
1.34% $281.41
$480,291,085
+21.62% (+299,308)
+0.63%
WING
WINGSTOP INC
2.80%
1,595,258
$238.49
40.36% $142.23
$380,453,080
+6.97% (+104,013)
+0.18%
12 of 32

Completely sold out

History
Ticker
Stock
Sold
Shares*
% change to
Portfolio
CIEN
CIENA CORP
2,006,662
-2.15%
EQT
EQT CORP
8,361,889
-3.34%
ETSY
ETSY INC
3,880,316
-1.89%
FLUT
FLUTTER ENTERTAINMENT PLC-DI
1,733,336
-3.23%
META
META PLATFORMS INC-CLASS A
1,322,260
-7.13%
SE
SEA LTD-ADR
1,869,501
-2.45%
SBUX
STARBUCKS CORP
5,561,954
-3.46%

Shares, change to shares, sold shares - split-adjusted.

Reported price - this doesn't represent the actual buy or sell price.
It is the split-adjusted price of the security as of the last day of the reported period.