Steve Mandel

Lone Pine Capital

Steve Mandel is the founder and managing partner of Lone Pine Capital, an American hedge fund based in Greenwich, Connecticut. Known for his value-oriented investment philosophy, Mandel has built a reputation for successfully navigating complex market environments. His firm focuses on long/short equity strategies and has established a diverse portfolio across various sectors, emphasizing technology and consumer cyclicals. Lone Pine Capital operates with a global outlook, maintaining offices in major financial hubs including New York City, London, and San Francisco. The firm employs a research-driven approach to identify undervalued companies and capitalize on market inefficiencies. With a strong emphasis on fundamental analysis, Mandel and his team aim to deliver consistent returns while managing risk effectively. Recent disclosures reveal a dynamic trading pattern, with significant position adjustments between February 14, 2025, and May 15, 2026. The firm has executed a total of 200 disclosures, reflecting a mix of position increases and reductions, with the largest disclosed move being an exit from Meta valued at approximately $971 million. The portfolio prominently features technology stocks, including Microsoft Corp and Amazon.com, highlighting the firm's strategic focus in this sector.

History Trades

CompanyValueActionChangePriceLast Price
Wix.com Ltd.WIX$-342.5MExitQ3 2025 13F$342M$177.63$53.03
Sea LimitedSE$334.1MOtherQ3 2025 13F$334M$171.35$106.26
Vistra CorpVST$-333.2MTrimQ3 2025 13F$333M$198.14$157.23
Microsoft CorpMSFT$-296.6MTrimQ3 2025 13F$297M$510.13$390.34
Ciena CorporationCIEN$292.3MOtherQ3 2025 13F$292M$101.84$408.73
Meta Platforms, Inc.META$971M1.3M sharesTrimQ3 2025 13F$258M$744.28$627.17
Etsy IncETSY$257.6MOtherQ3 2025 13F$258M$59.71$85.74
Philip Morris International IncPM$246.2MAddQ3 2025 13F$246M$168.25$192.12
APPLOVIN CORPAPP$244.9MAddQ3 2025 13F$245M$461.14$427.01
Talen Energy CorporationTLN$190.5MAddQ3 2025 13F$191M$425.38$366.14
Booking Holdings IncBKNG$-179.0MTrimQ3 2025 13F$179M$223.25$179.83
KKR & Co IncKKR$-164.4MTrimQ3 2025 13F$164M$141.95$102.75
Capital One Financial CorporationCOF$-109.2MTrimQ3 2025 13F$109M$218.92$201.36
Steve Mandel (Lone Pine Capital) trim Unmapped 13F securityPORTFOLIO$440M1.7M sharesTrimQ3 2025 13F$92M$254.00--
Taiwan Semiconductor Manufacturing Co LtdTSM$74.3MAddQ3 2025 13F$74M$244.54$424.61
Carvana Co.CVNA$-58.1MTrimQ3 2025 13F$58M$71.52$64.59
LPL Financial Holdings IncLPLA$48.4MAddQ3 2025 13F$48M$362.48$327.78
Starbucks CorpSBUX$471M5.6M sharesTrimQ3 2025 13F$39M$89.51$104.52
EQT CorpEQT$16.7MAddQ3 2025 13F$17M$52.83$49.05
Vistra CorpVST$713.1MAddQ2 2025 13F$713M$147.49$157.23
Unitedhealth Group IncUNH$528.3MOtherQ2 2025 13F$528M$384.44$431.31
Eli Lilly and Company Common StockLLY$-455.8MExitQ2 2025 13F$456M$777.84$1,163.08
EQT CorpEQT$438.5MOtherQ2 2025 13F$438M$53.95$49.05
Toll Brothers IncTOL$-401.3MExitQ2 2025 13F$401M$103.80$153.19
Brookfield CorporationBN$347.7MOtherQ2 2025 13F$348M$37.02$44.30
Booking Holdings IncBKNG$347.2MOtherQ2 2025 13F$347M$204.45$179.83
Wix.com Ltd.WIX$342.5MOtherQ2 2025 13F$342M$161.09$53.03
Cadence Design Systems IncCDNS$-309.9MExitQ2 2025 13F$310M$290.18$333.37
Amazon.com IncAMZN$1B5M sharesAddQ2 2025 13F$276M$197.77$244.85
Intuit IncINTU$-254.1MTrimQ2 2025 13F$254M$675.75$289.92
Ares Management CorpARES$-235.2MExitQ2 2025 13F$235M$157.95$120.60
Meta Platforms, Inc.META$1B1.7M sharesAddQ2 2025 13F$216M$617.26$627.17
Microsoft CorpMSFT$186.7MAddQ2 2025 13F$187M$433.34$390.34
Carvana Co.CVNA$160.0MAddQ2 2025 13F$160M$54.63$64.59
KKR & Co IncKKR$143.9MAddQ2 2025 13F$144M$117.03$102.75
Starbucks CorpSBUX$510M5.6M sharesTrimQ2 2025 13F$139M$86.84$104.52
Taiwan Semiconductor Manufacturing Co LtdTSM$136.5MAddQ2 2025 13F$137M$184.95$424.61
LPL Financial Holdings IncLPLA$125.0MAddQ2 2025 13F$125M$349.99$327.78
Wingstop Inc.WING$-101.3MExitQ2 2025 13F$101M$294.82$145.70
Talen Energy CorporationTLN$99.2MAddQ2 2025 13F$99M$236.67$366.14
Capital One Financial CorporationCOF$86.0MAddQ2 2025 13F$86M$186.48$201.36
ASML Holding NVASML$68.3MAddQ2 2025 13F$68M$716.78$1,732.94
APPLOVIN CORPAPP$46.1MAddQ2 2025 13F$46M$323.27$427.01
Salesforce, Inc. Common StockCRM$43.4MAddQ2 2025 13F$43M$267.36$172.68
Steve Mandel (Lone Pine Capital) add Unmapped 13F securityPORTFOLIO$532M1.9M sharesAddQ2 2025 13F$40M$285.76--
Philip Morris International IncPM$24.7MAddQ2 2025 13F$25M$171.52$192.12
Carvana Co.CVNA$564.0MOtherQ1 2025 13F$564M$44.25$64.59
PTC Inc. - Common StockPTC$-427.7MExitQ1 2025 13F$428M$171.97$123.61
Spotify Technology S.ASPOT$-408.7MExitQ1 2025 13F$409M$558.88$489.56
Toll Brothers IncTOL$401.3MOtherQ1 2025 13F$401M$120.06$153.19
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