How We Invest

13F FILER • STEPHEN MANDEL

Lone Pine Capital

Stephen Mandel (founder) — LONE PINE CAPITAL LLC

No writing by this manager has been read and indexed yet, so this page carries the filings only. Holdings come straight from the Form 13F-HR on EDGAR.

34

Positions

$16.4B

Reported Value

53.9%

In Top 10

—

Claims Indexed

Largest reported positions

LONE PINE CAPITAL LLC • CIK 0001061165 • 2026-06-30 • FILED 2026-08-14

WHAT CHANGED THIS QUARTER

In its Q2 2026 13F, filed Aug 14, 2026, Lone Pine Capital reported 34 positions worth $16.4B in US-listed stock. The largest stock position is Nebius Group N.v. at 7.2% of the reported book, and the ten largest lines of any type make up 53.9% of it.

It opened 13 new positions, the largest stock positions being Nebius Group N.v. ($1.2B), Seagate Technology Hldngs Pl ($965.1M) and Home Depot Inc ($918.1M), and exited 15, the largest stock exits being Vistra Corp ($930.2M last quarter), Talen Energy Corp ($580.3M last quarter) and Clean Harbors Inc ($503.2M last quarter).

Among positions it already held, the biggest increases by share count were Carvana Co (+500%), Visa Inc (+79%) and Medline Inc (+78%), and the biggest cuts were Brookfield Corp (−93%), Taiwan Semiconductor Manufac (−93%) and Mckesson Corp (−85%).

Largest reported positions, quarter ended 2026-06-30
IssuerValueWeightShares QoQ
NEBIUS GROUP N.V.$1.2B7.2%New
ASML HLDG NV$1.1B6.9%-13%
SEAGATE TECHNOLOGY HLDNGS PL$965.1M5.9%New
HOME DEPOT INC$918.1M5.6%New
APPLIED MATLS INC$873.2M5.3%New
MEDLINE INC$827.0M5.1%+78%
LINDE PLC$808.6M4.9%New
TERADYNE INC$722.4M4.4%-20%
CORNING INC$696.8M4.3%-27%
CARVANA CO$692.5M4.2%+500%
HUT 8 CORP$666.5M4.1%-5%
PERFORMANCE FOOD GROUP CO$654.3M4.0%+47%
NU HLDGS LTD$630.9M3.9%+24%
TERAWULF INC$596.4M3.6%+21%
CARPENTER TECHNOLOGY CORP$593.9M3.6%-47%
MASTEC INC$559.7M3.4%-12%
APPLOVIN CORP$537.0M3.3%-29%
TTM TECHNOLOGIES INC$512.1M3.1%New
STERLING INFRASTRUCTURE INC$511.7M3.1%New
US FOODS HLDG CORP$502.5M3.1%+30%

20 of 34 positions. A 13F covers long US-listed positions at a quarter end only — no shorts, leverage, cash, ordinary bonds or private holdings — and is 45 days old on publication.

NEW POSITIONS

  • Nebius Group N.v.$1.2B · 7.2%
  • Seagate Technology Hldngs Pl$965.1M · 5.9%
  • Home Depot Inc$918.1M · 5.6%
  • Applied Matls Inc$873.2M · 5.3%
  • Linde Plc$808.6M · 4.9%

EXITS

  • Vistra Corp$930.2M last quarter
  • Talen Energy Corp$580.3M last quarter
  • Clean Harbors Inc$503.2M last quarter
  • Tenet Healthcare Corp$426.2M last quarter
  • Capital One Finl Corp$413.6M last quarter

QUESTIONS PEOPLE ASK

What are Lone Pine Capital's largest holdings?

OPEN
As of Jun 30, 2026, the three largest stock positions are Nebius Group N.v. (7.2%), Asml Hldg Nv (6.9%) and Seagate Technology Hldngs Pl (5.9%), together 20.0% of the reported book.

How big is Lone Pine Capital's 13F portfolio?

OPEN
The Q2 2026 13F, filed Aug 14, 2026, reports 34 positions worth $16.4B. The ten largest make up 53.9% of it.

What did Lone Pine Capital buy and sell in Q2 2026?

OPEN
It opened 13 new positions, the largest stock positions being Nebius Group N.v. ($1.2B), Seagate Technology Hldngs Pl ($965.1M) and Home Depot Inc ($918.1M), and exited 15, the largest stock exits being Vistra Corp ($930.2M last quarter), Talen Energy Corp ($580.3M last quarter) and Clean Harbors Inc ($503.2M last quarter). Among positions it already held, the biggest increases by share count were Carvana Co (+500%), Visa Inc (+79%) and Medline Inc (+78%), and the biggest cuts were Brookfield Corp (−93%), Taiwan Semiconductor Manufac (−93%) and Mckesson Corp (−85%).

When is Lone Pine Capital's next 13F due?

OPEN
The Q3 2026 13F is due Nov 16, 2026. Forty-five days after the quarter ends is November 14, 2026 (Saturday), so the deadline moves to the next business day. Stephen Mandel's filing usually lands close to the deadline.

Filers with overlapping books