Stephen Mandel Jr. – Lone Pine Capital LLC

Period:
Q1 2026
Portfolio date:
Mar 31, 2026
No. of stocks:
36
Portfolio value:
$12,543,848,000
Filed:
May 15, 2026
Style:
Tiger Cub / Growth
HistStockActivityShare change% change to portfolio
Q1 2026filed May 15, 2611 new12 added8 reduced7 exited
≡KKR – KKR & CO INCReduce 96.00%−4,821,777−4.55
≡AVGO – BROADCOM INCSell−1,730,216−4.40
≡MSFT – MICROSOFT CORPSell−1,234,125−4.38
≡DASH – DOORDASH INCSell−2,529,879−4.21
≡AMZN – AMAZON COM INCSell−2,414,520−4.09
≡VMC – VULCAN MATLS COReduce 91.00%−1,539,753−3.22
≡PM – PHILIP MORRIS INTL INCSell−2,643,579−3.12
≡TSM – TAIWAN SEMICONDUCTOR MANUFACReduce 54.00%−1,662,870−3.07
≡WING – WINGSTOP INCSell−1,595,258−2.80
≡APH – AMPHENOL CORPReduce 92.00%−2,586,689−2.57
≡AFRM – AFFIRM HLDGS INCSell−3,817,170−2.09
≡BN – BROOKFIELD CORPReduce 30.00%−4,714,391−1.75
≡MA – MASTERCARD INCORPORATEDReduce 41.00%−39,137−0.18
≡BKNG – BOOKING HOLDINGS INCReduce 48.00%−2,225−0.10
≡BSX – BOSTON SCIENTIFIC CORPReduce 48.00%−97,048−0.09
Q4 2025filed Feb 17, 2614 new8 added7 reduced7 exited
≡META – META PLATFORMS INCSell−1,322,260−7.07
≡SBUX – STARBUCKS CORPSell−5,561,954−3.42
≡EQT – EQT CORPSell−8,361,889−3.31
≡FLUT – FLUTTER ENTMT PLCSell−1,733,336−3.20
≡SE – SEA LTDSell−1,869,501−2.43
≡PM – PHILIP MORRIS INTL INCReduce 43.00%−1,970,864−2.33
≡CIEN – CIENA CORPSell−2,006,662−2.13
≡APP – APPLOVIN CORPReduce 30.00%−328,608−1.94
≡ETSY – ETSY INCSell−3,880,316−1.87
≡BKNG – BOOKING HOLDINGS INCReduce 85.00%−26,521−1.04
≡AMZN – AMAZON COM INCReduce 14.00%−397,408−0.40
≡COF – CAPITAL ONE FINL CORPReduce 11.00%−274,6000.11
≡APH – AMPHENOL CORP NEWReduce 7.00%−213,4580.07
≡LPLA – LPL FINL HLDGS INCReduce 8.00%−180,766−0.02
Q3 2025filed Nov 14, 258 new6 added10 reduced5 exited
≡INTU – INTUITSell−771,666−4.33
≡UNH – UNITEDHEALTH GROUP INCSell−1,693,347−3.76
≡CRM – SALESFORCE INCSell−1,863,179−3.62
≡AMZN – AMAZON COM INCReduce 44.00%−2,221,628−3.37
≡ASML – ASML HOLDING N VSell−566,862−3.23
≡APP – APPLOVIN CORPReduce 12.00%−152,1962.66
≡WIX – WIX COM LTDSell−2,161,331−2.44
≡VST – VISTRA CORPReduce 27.00%−1,770,478−2.22
≡MSFT – MICROSOFT CORPReduce 35.00%−646,251−2.01
≡META – META PLATFORMS INCReduce 21.00%−342,757−1.68
≡BKNG – BOOKING HOLDINGS INCReduce 48.00%−28,821−1.25
≡KKR – KKR & CO INCReduce 22.00%−1,141,208−1.09
≡COF – CAPITAL ONE FINL CORPReduce 17.00%−511,142−0.69
≡TSM – TAIWAN SEMICONDUCTOR MFG LTDReduce 11.00%−383,5200.66
≡FLUT – FLUTTER ENTMT PLCReduce 7.00%−129,428−0.58
Q2 2025filed Aug 14, 255 new6 added7 reduced5 exited
≡LLY – ELI LILLY & COSell−551,827−3.94
≡TOL – TOLL BROTHERS INCSell−3,800,580−3.47
≡INTU – INTUITReduce 45.00%−632,136−3.12
≡APPCALL – APPLOVIN CORPReduce 80.00%−1,278,328−2.86
≡CDNS – CADENCE DESIGN SYSTEM INCSell−1,218,389−2.68
≡ARES – ARES MANAGEMENT CORPORATIONSell−1,604,441−2.03
≡SBUX – STARBUCKS CORPReduce 16.00%−1,045,934−1.97
≡WING – WINGSTOP INCSell−449,056−0.87
≡PM – PHILIP MORRIS INTL INCReduce 8.00%−250,848−0.55
≡APPCALL – APPLOVIN CORPReduce 21.00%−332,594−0.51
≡FLUT – FLUTTER ENTMT PLCReduce 16.00%−357,132−0.46
≡TSM – TAIWAN SEMICONDUCTOR MFG LTDReduce 11.00%−429,461−0.00
Q1 2025filed May 15, 251 added1 reduced
≡APPCALL – APPLOVIN CORPReduce 80.00%−1,278,328−2.93
Q1 2025filed May 15, 255 new8 added6 reduced12 exited
≡PTC – PTC INCSell−2,326,231−3.18
≡SPOT – SPOTIFY TECHNOLOGY S ASell−913,564−3.04
≡WDAY – WORKDAY INCSell−1,543,464−2.96
≡CEG – CONSTELLATION ENERGY CORPSell−1,737,526−2.89
≡HWM – HOWMET AEROSPACE INCSell−3,061,707−2.49
≡XYZ – BLOCK INCSell−3,765,793−2.38
≡APPCALL – APPLOVIN CORPReduce 71.00%−769,513−1.89
≡LEN – LENNAR CORPSell−1,717,903−1.74
≡PM – PHILIP MORRIS INTL INCReduce 53.00%−3,459,830−1.66
≡VST – VISTRA CORPReduce 14.00%−748,177−0.81
≡LLY – ELI LILLY & COReduce 30.00%−231,033−0.55
≡LPLA – LPL FINL HLDGS INCReduce 8.00%−158,7330.32
≡BTDR – BITDEER TECHNOLOGIES GROUPSell−986,717−0.16
≡HUT – HUT 8 CORPSell−692,839−0.11
≡META – META PLATFORMS INCReduce 14.00%−278,868−0.11
≡CIFR – CIPHER MINING INCSell−2,344,380−0.08
≡WULF – TERAWULF INCSell−1,480,928−0.06
≡IREN – IREN LIMITEDSell−711,839−0.05
Q4 2024filed Feb 14, 254 new5 added17 reduced3 exited
≡UNH – UNITEDHEALTH GROUP INCSell−821,880−3.58
≡BKNG – BOOKING HOLDINGS INCSell−76,414−2.40
≡LEN – LENNAR CORPReduce 41.00%−1,209,751−2.35
≡GEV – GE VERNOVA INCSell−1,156,011−2.20
≡CEG – CONSTELLATION ENERGY CORPReduce 27.00%−656,705−1.76
≡XYZ – BLOCK INCReduce 51.00%−3,904,730−1.46
≡AMZN – AMAZON COM INCReduce 31.00%−1,693,233−1.45
≡SPOT – SPOTIFY TECHNOLOGY S AReduce 41.00%−638,965−1.23
≡ASML – ASML HOLDING N VReduce 20.00%−109,547−1.15
≡CRM – SALESFORCE INCReduce 33.00%−772,637−0.89
≡LPLA – LPL FINL HLDGS INCReduce 12.00%−257,3890.88
≡VST – VISTRA CORPReduce 21.00%−1,453,326−0.54
≡APP – APPLOVIN CORPReduce 54.00%−1,284,7530.30
≡PTC – PTC INCReduce 9.00%−221,968−0.26
≡ARES – ARES MANAGEMENT CORPORATIONReduce 18.00%−374,773−0.18
≡BTDR – BITDEER TECHNOLOGIES GROUPReduce 24.00%−311,2480.08
≡TSM – TAIWAN SEMICONDUCTOR MFG LTDReduce 11.00%−452,4170.06
≡WULF – TERAWULF INCReduce 52.00%−1,586,868−0.04
≡KKR – KKR & CO INCReduce 10.00%−474,5870.04
≡HUT – HUT 8 CORPReduce 44.00%−539,913−0.01
Q3 2024filed Nov 14, 249 new5 added11 reduced4 exited
≡MA – MASTERCARD INCORPORATEDSell−1,043,557−3.73
≡BBWI – BATH & BODY WORKS INCSell−11,315,515−3.58
≡TSM – TAIWAN SEMICONDUCTOR MFG LTDReduce 30.00%−1,789,337−3.00
≡MCK – MCKESSON CORPSell−560,936−2.66
≡MSFT – MICROSOFT CORPReduce 18.00%−364,426−2.01
≡APP – APPLOVIN CORPReduce 58.00%−3,332,572−1.54
≡ASML – ASML HOLDING N VReduce 6.00%−36,578−1.45
≡PM – PHILIP MORRIS INTL INCReduce 33.00%−2,190,473−1.43
≡KKR – KKR & CO INCReduce 29.00%−1,862,776−1.05
≡BKNG – BOOKING HOLDINGS INCReduce 27.00%−28,763−0.98
≡AVDX – AVIDXCHANGE HOLDINGS INCSell−5,078,341−0.50
≡UNH – UNITEDHEALTH GROUP INCReduce 13.00%−122,437−0.32
≡GEV – GE VERNOVA INCReduce 22.00%−320,9970.14
≡SPOT – SPOTIFY TECHNOLOGY S AReduce 8.00%−134,886−0.03
≡HWM – HOWMET AEROSPACE INCReduce 16.00%−603,614−0.02
Q2 2024filed Aug 14, 244 new7 added3 reduced6 exited
≡CRM – SALESFORCE INCSell−2,400,267−5.71
≡WDAY – WORKDAY INCSell−1,414,824−3.05
≡LYV – LIVE NATION ENTERTAINMENT INSell−3,217,551−2.69
≡META – META PLATFORMS INCReduce 35.00%−743,380−2.49
≡DKS – DICKS SPORTING GOODS INCSell−1,198,897−2.13
≡EPAM – EPAM SYS INCSell−929,917−2.03
≡IBN – ICICI BANK LIMITEDSell−9,642,665−2.01
≡PTC – PTC INCReduce 14.00%−419,759−0.67
≡KKR – KKR & CO INCReduce 9.00%−606,614−0.10
Q1 2024filed May 15, 245 new6 added11 reduced4 exited
≡UNH – UNITEDHEALTH GROUP INCSell−891,167−4.06
≡HDB – HDFC BANK LTDSell−4,643,541−2.70
≡BX – BLACKSTONE INCSell−2,219,023−2.51
≡GE – GENERAL ELECTRIC COSell−2,103,885−2.32
≡BKNG – BOOKING HOLDINGS INCReduce 32.00%−48,207−1.69
≡DKS – DICKS SPORTING GOODS INCReduce 59.00%−1,724,013−1.59
≡MA – MASTERCARD INCORPORATEDReduce 38.00%−420,366−1.48
≡AMZN – AMAZON COM INCReduce 18.00%−971,308−0.79
≡WDAY – WORKDAY INCReduce 9.00%−133,046−0.65
≡META – META PLATFORMS INCReduce 26.00%−735,911−0.61
≡IBN – ICICI BANK LIMITEDReduce 20.00%−2,399,598−0.47
≡TSM – TAIWAN SEMICONDUCTOR MFG LTDReduce 11.00%−775,4000.38
≡PTC – PTC INCReduce 6.00%−198,505−0.37
≡LPLA – LPL FINL HLDGS INCReduce 8.00%−155,044−0.11
≡BBWI – BATH & BODY WORKS INCReduce 7.00%−680,756−0.05
Q4 2023filed Feb 14, 244 new3 added5 reduced5 exited
≡GOOGL – ALPHABET INCSell−3,113,001−3.93
≡TDG – TRANSDIGM GROUP INCSell−436,740−3.55
≡BILL – BILL HOLDINGS INCSell−2,546,689−2.67
≡MA – MASTERCARD INCORPORATEDReduce 37.00%−645,552−2.60
≡SGI – TEMPUR SEALY INTL INCSell−4,771,772−1.99
≡FND – FLOOR & DECOR HLDGS INCSell−2,160,808−1.89
≡WDAY – WORKDAY INCReduce 40.00%−1,031,749−1.65
≡EPAM – EPAM SYS INCReduce 19.00%−203,969−0.41
≡TSM – TAIWAN SEMICONDUCTOR MFG LTDReduce 11.00%−852,228−0.28
≡LYV – LIVE NATION ENTERTAINMENT INReduce 10.00%−368,181−0.26