We are live on ! Find out more
SM

Stephen Mandel Lone Pine Capital

AUM $16.4B
1-Year Est. Return 99.7%
 

Stephen Mandel founded Lone Pine Capital, a long/short equity firm that became one of the most influential Tiger Cub franchises. Lone Pine is known for fundamental research and growth-oriented equity investing with risk management through shorting and portfolio construction. Even as the firm’s structure has evolved over time, Mandel’s name remains closely associated with institutional growth investing.

This Fund
S&P 500
This Quarter Est. Return
+1.1%
1 Year Est. Return
+99.7%
3 Year Est. Return
+351.82%
5 Year Est. Return
+339.1%
10 Year Est. Return
+2,106.14%
AUM
$13.6B
AUM Growth
-$132M
Cap. Flow
-$113M
Cap. Flow %
-0.83%
Top 10 Hldgs %
51.76%
Holding
39
New
14
Increased
10
Reduced
7
Closed
7

Top Buys

Rank Stock Value
1
ASML icon
ASML
ASML
+$631M
2
DASH icon
DoorDash
DASH
+$593M
3
MDLN
Medline Inc
MDLN
+$495M
4
CRS icon
Carpenter Technology
CRS
+$395M
5
THC icon
Tenet Healthcare
THC
+$361M

Top Sells

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$971M
2
SBUX icon
Starbucks
SBUX
+$471M
3
EQT icon
EQT Corp
EQT
+$455M
4
FLUT icon
Flutter Entertainment
FLUT
+$440M
5
SE icon
Sea Limited
SE
+$334M

Sector Composition

Rank Sector Weight
1 Financials 25.76%
2 Technology 25.04%
3 Consumer Discretionary 16.92%
4 Utilities 9.74%
5 Healthcare 6.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TSM icon
1
TSMC
TSM
$2.17T
$928M 6.82%
3,052,400
– –
VST icon
2
Vistra
VST
$45.7B
$841M 6.18%
5,211,885
+512,644
+11% +$93.4M
CVNA icon
3
Carvana
CVNA
$76.9B
$751M 5.52%
8,896,640
+70,185
+0.8% +$5.22M
LPLA icon
4
LPL Financial
LPLA
$28.5B
$741M 5.44%
2,074,948
-180,766
-8% -$63.9M
BN icon
5
Brookfield
BN
$93.1B
$731M 5.37%
15,923,360
+651,338
+4% +$29.7M
ASML icon
6
ASML
ASML
$677B
$647M 4.76%
+605,017
New +$631M
KKR icon
7
KKR & Co
KKR
$97.4B
$638M 4.68%
5,001,085
+920,524
+23% +$114M
AVGO icon
8
Broadcom
AVGO
$1.75T
$599M 4.4%
1,730,216
+180,804
+12% +$64.7M
MSFT icon
9
Microsoft
MSFT
$3.59T
$597M 4.39%
1,234,125
+25,520
+2% +$12.8M
DASH icon
10
DoorDash
DASH
$96.8B
$573M 4.21%
+2,529,879
New +$593M
AMZN icon
11
Amazon
AMZN
$2.79T
$557M 4.09%
2,414,520
-397,408
-14% -$90.9M
COF icon
12
Capital One
COF
$134B
$556M 4.09%
2,294,891
-274,600
-11% -$61.1M
APP icon
13
Applovin
APP
$102B
$526M 3.86%
780,530
-328,608
-30% -$207M
NU icon
14
Nu Holdings
NU
$70.4B
$496M 3.64%
29,630,237
+4,223,788
+17% +$67.9M
MDLN
15
Medline Inc
MDLN
$30.1B
$492M 3.62%
+11,716,697
New +$495M
TLN
16
Talen Energy Corp
TLN
$15.1B
$484M 3.56%
1,292,516
+100,000
+8% +$38.9M
VMC icon
17
Vulcan Materials
VMC
$35.8B
$480M 3.53%
1,683,932
+299,308
+22% +$87.8M
PM icon
18
Philip Morris
PM
$293B
$424M 3.12%
2,643,579
-1,970,864
-43% -$305M
CRS icon
19
Carpenter Technology
CRS
$24.4B
$413M 3.04%
+1,312,938
New +$395M
WING icon
20
Wingstop
WING
$3.14B
$380M 2.8%
1,595,258
+104,013
+7% +$25.8M
APH icon
21
Amphenol
APH
$194B
$380M 2.79%
2,809,773
-213,458
-7% -$28.6M
THC icon
22
Tenet Healthcare
THC
$22.6B
$355M 2.61%
+1,787,326
New +$361M
CLH icon
23
Clean Harbors
CLH
$16.7B
$323M 2.37%
+1,378,125
New +$315M
AFRM icon
24
Affirm
AFRM
$25.8B
$284M 2.09%
+3,817,170
New +$275M
ENTG icon
25
Entegris
ENTG
$22B
$257M 1.89%
+3,054,230
New +$265M
1
2

Similar funds

PCM
Pentwater Capital Management Naples, Florida $16.4B AUM 55.44% 1-Year Est. Return
MFG
Merit Financial Group Alpharetta, Georgia $16.4B AUM 25.17% 1-Year Est. Return
X
Xponance Philadelphia, Pennsylvania $16.3B AUM 44.61% 1-Year Est. Return
CAM
Congress Asset Management Boston, Massachusetts $16.3B AUM 42.69% 1-Year Est. Return
PAM
PineStone Asset Management Montreal, Quebec, Canada $16.2B AUM 25.74% 1-Year Est. Return
NMO
Newlands Management Operations Dallas, Texas $16.6B AUM 3.91% 1-Year Est. Return
BS
Banco Santander Madrid, Spain $16.1B AUM 35.02% 1-Year Est. Return
BBVA
Banco Bilbao Vizcaya Argentaria Madrid, Spain $16.1B AUM 40.83% 1-Year Est. Return

Stephen Mandel's Q4 2025 Portfolio in Review

As of Q4 2025, Stephen Mandel held 39 positions worth $13.6B, down 0.96% from $13.7B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Stephen Mandel's Q4 2025 filing shows 14 new, 10 increased, 7 reduced and 7 closed positions. Its largest new stake was ASML: 605,017 shares worth $647M. The largest sale was Meta Platforms (Facebook), an estimated $971M.

By sector, the portfolio is most concentrated in Financials at 26% of assets, up from 21% a quarter earlier, followed by Technology and Consumer Discretionary.

  • Stephen Mandel's largest Q4 2025 buy was ASML: 605,017 shares worth $647M.
  • Stephen Mandel added most to KKR & Co in Q4 2025, an estimated $114M increase.
  • Stephen Mandel's biggest Q4 2025 reduction was Philip Morris, cutting an estimated $305M.
  • Stephen Mandel fully exited Meta Platforms (Facebook) in Q4 2025, selling an estimated $971M.
  • Stephen Mandel's ten largest holdings make up 52% of its $13.6B portfolio in Q4 2025.
  • Stephen Mandel opened 14 new positions and closed 7 in Q4 2025.
  • Stephen Mandel's portfolio value fell 0.96% quarter-over-quarter to $13.6B.

Based on Lone Pine Capital's 13F filing for Q4 2025, filed 17 Feb 2026.