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Steve Mandel

Lone Pine Capital LLC

Report date Dec 31, 2025 · 25 quarters available

Filed Feb 17, 2026, 48 days after the quarter ended · 13F-HR 0000902664-26-001084

Q2 2026 13F data is not published yet; the SEC filing deadline is August 14, 2026.

Reported portfolio value$13.6B-1.0% vs. previous quarter
Positions3214 new, 7 closed
Top-five concentration29.3%of the reported portfolio
Largest positionTSMTAIWAN SEMICONDUCTOR-SP ADR · 6.8% weight

Portfolio structure

Size by reported market value, hue by sector
Q4 2025

Sector allocation

Share of portfolio value · derived from SEC SIC codes, not licensed GICS data

Segments run in GICS sector order

  • Materials6.6%
  • Industrials0.4%
  • Consumer Discretionary18.6%
  • Consumer Staples3.1%
  • Health Care6.4%
  • Financials16.7%
  • Information Technology18.4%
  • Communication Services3.9%
  • Utilities12.1%
  • Real Estate5.4%
  • Unclassified8.5%

91.5% of the value that can carry an issuer sector is classified · rule set sic-sector-v2

Sector Allocation Over Time

All available quarters · Share of portfolio value
25 quarters

Classification coverage varies across these quarters, so part of a band's movement may be a change in what could be resolved rather than in what was held.

All positions

Sorted by portfolio weight, high to low
Information Technology$0.93B
6.8%
Unchanged
Utilities$0.84B
6.2%
Increased
CVNACARVANA COCUSIP 146869102
Consumer Discretionary$0.75B
5.5%
Increased
LPLALPL FINANCIAL HOLDINGS INCCUSIP 50212V100
Financials$0.74B
5.4%
Reduced
Real Estate$0.73B
5.4%
Increased
Ticker unavailableASML HOLDING N VCUSIP N07059210
Unclassified$0.65B
4.8%
New
KKRKKR & CO INCCUSIP 48251W104
Financials$0.64B
4.7%
Increased
AVGOBROADCOM INCCUSIP 11135F101
Information Technology$0.60B
4.4%
Increased
MSFTMICROSOFT CORPCUSIP 594918104
Information Technology$0.60B
4.4%
Increased
DASHDOORDASH INC - ACUSIP 25809K105
Consumer Discretionary$0.57B
4.2%
New
Consumer Discretionary$0.56B
4.1%
Reduced
COFCAPITAL ONE FINANCIAL CORPCUSIP 14040H105
Financials$0.56B
4.1%
Reduced
APPAPPLOVIN CORP-CLASS ACUSIP 03831W108
Communication Services$0.53B
3.9%
Reduced
Ticker unavailableNU HLDGS LTDCUSIP G6683N103
Unclassified$0.50B
3.6%
Increased
MDLNMEDLINE INC-CL ACUSIP 58507V107
Health Care$0.49B
3.6%
New
TLNTALEN ENERGY CORPCUSIP 87422Q109
Utilities$0.48B
3.6%
Increased
VMCVULCAN MATERIALS COCUSIP 929160109
Materials$0.48B
3.5%
Increased
Consumer Staples$0.42B
3.1%
Reduced
CRSCARPENTER TECHNOLOGYCUSIP 144285103
Materials$0.41B
3.0%
New
WINGWINGSTOP INCCUSIP 974155103
Consumer Discretionary$0.38B
2.8%
Increased
APHAMPHENOL CORP-CL ACUSIP 032095101
Information Technology$0.38B
2.8%
Reduced
THCTENET HEALTHCARE CORPCUSIP 88033G407
Health Care$0.36B
2.6%
New
CLHCLEAN HARBORS INCCUSIP 184496107
Utilities$0.32B
2.4%
New
AFRMAFFIRM HOLDINGS INCCUSIP 00827B106
Financials$0.28B
2.1%
New
ENTGENTEGRIS INCCUSIP 29362U104
Consumer Discretionary$0.26B
1.9%
New
MAMASTERCARD INC - ACUSIP 57636Q104
Financials$0.05B
0.4%
New
TDGTRANSDIGM GROUP INCCUSIP 893641100
Industrials$0.03B
0.2%
New
BKNGBOOKING HOLDINGS INCCUSIP 09857L108
Industrials$0.02B
0.2%
Reduced
BSXBOSTON SCIENTIFIC CORPCUSIP 101137107
Health Care$0.02B
0.1%
New
Consumer Discretionary$0.02B
0.1%
New
Ticker unavailableSPOTIFY TECHNOLOGY S ACUSIP L8681T102
Unclassified$0.01B
0.1%
New
Financials$0.01B
0.0%
New
Steve Mandel · Q4 2025 | Solvnode