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
Workday IncWDAY$-398.3MExitQ1 2025 13F$398M$255.22$147.18
CONSTELLATION ENE CORPCEG$-388.7MExitQ1 2025 13F$389M$241.64$254.71
Howmet Aerospace Inc.HWM$-334.9MExitQ1 2025 13F$335M$127.01$272.99
Block, Inc.XYZ$-320.1MExitQ1 2025 13F$320M$54.33$80.38
Cadence Design Systems IncCDNS$309.9MOtherQ1 2025 13F$310M$278.09$333.37
Philip Morris International IncPM$-300.9MTrimQ1 2025 13F$301M$141.65$192.12
Lennar CorporationLEN$-234.3MExitQ1 2025 13F$234M$125.69$85.29
Vistra CorpVST$-197.2MTrimQ1 2025 13F$197M$149.41$157.23
Meta Platforms, Inc.META$1B1.8M sharesTrimQ1 2025 13F$179M$645.17$681.31
APPLOVIN CORPAPP$154.6MAddQ1 2025 13F$155M$344.61$427.01
Eli Lilly and Company Common StockLLY$-148.6MTrimQ1 2025 13F$149M$832.09$1,156.63
Intuit IncINTU$134.9MAddQ1 2025 13F$135M$600.51$289.92
Wingstop Inc.WING$101.3MOtherQ1 2025 13F$101M$260.10$145.70
Taiwan Semiconductor Manufacturing Co LtdTSM$-101.0MTrimQ1 2025 13F$101M$194.34$424.61
ASML Holding NVASML$79.8MAddQ1 2025 13F$80M$727.48$1,732.94
Ares Management CorpARES$-61.7MTrimQ1 2025 13F$62M$172.79$120.60
Salesforce, Inc. Common StockCRM$-58.6MTrimQ1 2025 13F$59M$311.03$172.68
Starbucks CorpSBUX$648M6.6M sharesAddQ1 2025 13F$57M$103.37$104.52
LPL Financial Holdings IncLPLA$-50.7MTrimQ1 2025 13F$51M$348.21$327.78
KKR & Co IncKKR$-48.0MTrimQ1 2025 13F$48M$137.58$102.75
Microsoft CorpMSFT$44.8MAddQ1 2025 13F$45M$407.71$395.63
Bitdeer Technologies GroupBTDR$-21.4MExitQ1 2025 13F$21M--$11.24
Steve Mandel (Lone Pine Capital) exit Unmapped 13F securityPORTFOLIO$-14.2MExitQ1 2025 13F$14M----
Cipher Mining Inc.CIFR$-10.9MExitQ1 2025 13F$11M--$17.72
TeraWulf Inc.WULF$-8.4MExitQ1 2025 13F$8M$4.46$19.37
Capital One Financial CorporationCOF$-7.5MTrimQ1 2025 13F$8M$188.90$208.89
IREN LimitedIREN$-7.0MExitQ1 2025 13F$7M$9.74$38.28
Amazon.com IncAMZN$828M4.4M sharesTrimQ1 2025 13F$3M$217.00$254.96
Steve Mandel (Lone Pine Capital) trim Unmapped 13F securityPORTFOLIO$492M2.2M sharesTrimQ1 2025 13F$2M$221.55--
Talen Energy CorporationTLN$-2.0MTrimQ1 2025 13F$2M$199.67$366.14
Eli Lilly and Company Common StockLLY$604.4MOtherQ4 2024 13F$604M$828.01$1,156.63
Capital One Financial CorporationCOF$577.0MOtherQ4 2024 13F$577M$173.11$208.89
Steve Mandel (Lone Pine Capital) other Unmapped 13F securityPORTFOLIO$494M1.9M sharesOtherQ4 2024 13F$494M$258.45--
Unitedhealth Group IncUNH$-480.5MExitQ4 2024 13F$481M$568.18$418.52
Booking Holdings IncBKNG$-321.9MExitQ4 2024 13F$322M$192.21$179.83
Lennar CorporationLEN$-314.6MTrimQ4 2024 13F$315M$167.86$85.29
GE VERNOVA INCGEV$-294.8MExitQ4 2024 13F$295M$312.60$1,072.80
Philip Morris International IncPM$234.5MAddQ4 2024 13F$235M$126.16$192.12
CONSTELLATION ENE CORPCEG$-233.8MTrimQ4 2024 13F$234M--$254.71
Starbucks CorpSBUX$591M6.5M sharesAddQ4 2024 13F$196M$96.74$104.52
Block, Inc.XYZ$-194.9MTrimQ4 2024 13F$195M$82.04$80.38
Amazon.com IncAMZN$831M3.8M sharesTrimQ4 2024 13F$190M$204.58$254.96
Spotify Technology S.ASPOT$-163.4MTrimQ4 2024 13F$163M$428.22$489.56
Intuit IncINTU$154.9MAddQ4 2024 13F$155M$638.99$289.92
ASML Holding NVASML$-153.2MTrimQ4 2024 13F$153M$718.11$1,732.94
LPL Financial Holdings IncLPLA$120.6MAddQ4 2024 13F$121M$295.72$327.78
Salesforce, Inc. Common StockCRM$-116.6MTrimQ4 2024 13F$117M$319.14$172.68
Meta Platforms, Inc.META$1B2M sharesAddQ4 2024 13F$110M$586.98$681.31
Vistra CorpVST$-68.8MTrimQ4 2024 13F$69M$138.84$157.23
Talen Energy CorporationTLN$66.9MAddQ4 2024 13F$67M$195.05$366.14
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