Lone Pine Capital
Stephen Mandel (founder) · CIK 0001061165 · latest 13F for 2026-06-30 filed 2026-08-14
Estimated from 13F holdings — long US equities only; follow-the-filing returns are net of an assumed 10 bps per unit of turnover.
About the fund
Lone Pine Capital is an American hedge fund and investment advisor headquartered in Greenwich, Connecticut. Founded in 1997 by Stephen Mandel, the firm is known for its long/short equity strategy and is considered one of the so-called Tiger Cubs.
Investment approach
The firm employs a rigorous, bottom-up research process that integrates qualitative and quantitative analysis across global markets. It focuses on high-conviction equity investments, seeking to identify catalysts for change and value creation. The investment team collaborates to evaluate opportunities, trends, and economic conditions, maintaining a concentrated portfolio of best ideas while adapting to changing market environments.
History
Founded in 1997 by Stephen Mandel, a former Tiger Management employee, Lone Pine Capital is a prominent hedge fund. The firm underwent a significant leadership transition following Mandel's retirement from day-to-day activities in 2019, with co-CIOs David Craver and Kelly Granat taking on leadership roles. The firm has evolved its investment strategies and business operations to adapt to changing market conditions over its decades of operation.
Notable positions & campaigns
- Nebius Group2026 — A Dutch provider of artificial intelligence infrastructure, which became the firm's largest U.S.-listed long position as of June 2026.
- Applied Materials2026 — A semiconductor equipment company in which the firm established a new position in the second quarter of 2026.
- Seagate Technology2026 — A data storage company in which the firm established a new position in the second quarter of 2026.
- Canva2024 — A minority stake acquisition in the technology company, marking a return to private investments.
Profile generated 2026-10-09 from public sources; may be incomplete or out of date.
- Founded by
- Stephen Mandel
- Founded
- 1997
- HQ
- Greenwich, United States
- Reported AUM
- $21.6bn (as of March 30, 2026)
- Website
- lonepinecapital.com
Management
- Stephen MandelFounder, Executive Chairman
- David CraverManaging Member, Co-CIO
- Kelly GranatCo-CIO
- Brian DohertyManaging Member
- Kerry TylerCOO
Holdings heatmap
Latest 13F (2026-06-30): top 34 positions grouped by sector, sized by weight, coloured by the change in weight since the previous 13F.
Holdings map
Each tile is a position, sized by reported value and coloured by the stock's own price return (red down, green up) — the LiquidRound / finviz-style map.
Copy portfolio vs SPY
Growth of $1 following each filing the trading day after it was filed.
Top holdings
Latest 13F (2026-06-30).
| # | Ticker | Value | Weight |
|---|---|---|---|
| 1 | — | $1.2B | 7.2% |
| 2 | — | $1.1B | 6.9% |
| 3 | — | $965M | 5.9% |
| 4 | HD | $918M | 5.6% |
| 5 | AMAT | $873M | 5.3% |
| 6 | MDLN | $827M | 5.1% |
| 7 | — | $809M | 4.9% |
| 8 | TER | $722M | 4.4% |
| 9 | GLW | $697M | 4.3% |
| 10 | CVNA | $692M | 4.2% |
| 11 | HUT | $666M | 4.1% |
| 12 | PFGC | $654M | 4.0% |
| 13 | — | $631M | 3.9% |
| 14 | WULF | $596M | 3.6% |
| 15 | CRS | $594M | 3.6% |
| 16 | MTZ | $560M | 3.4% |
| 17 | APP | $537M | 3.3% |
| 18 | TTMI | $512M | 3.1% |
| 19 | STRL | $512M | 3.1% |
| 20 | USFD | $503M | 3.1% |
| 21 | — | $470M | 2.9% |
| 22 | LPLA | $343M | 2.1% |
| 23 | AGX | $294M | 1.8% |
| 24 | — | $111M | 0.7% |
| 25 | SHAZ | $102M | 0.6% |
Sector mix
Top-25 holdings by weight.
Changes this quarter
| Move | Ticker | Prev wt | Now wt |
|---|---|---|---|
| exited | VST | 7.4% | 0.0% |
| new | — | 0.0% | 7.2% |
| new | — | 0.0% | 5.9% |
| new | HD | 0.0% | 5.6% |
| new | AMAT | 0.0% | 5.3% |
| new | — | 0.0% | 4.9% |
| exited | TLN | 4.6% | 0.0% |
| exited | CLH | 4.0% | 0.0% |
| trimmed | TSM | 3.7% | 0.3% |
| trimmed | BN | 3.6% | 0.2% |
| exited | THC | 3.4% | 0.0% |
| exited | COF | 3.3% | 0.0% |
| new | TTMI | 0.0% | 3.1% |
| new | STRL | 0.0% | 3.1% |
| exited | ENTG | 2.9% | 0.0% |
| new | — | 0.0% | 2.9% |
| trimmed | LPLA | 4.9% | 2.1% |
| exited | CIEN | 2.5% | 0.0% |
| trimmed | MCK | 2.7% | 0.3% |
| trimmed | CRS | 5.7% | 3.6% |
Quarterly copy returns
Each 13F held from the day after filing until the next filing.
| 13F period | Copy | SPY | Alpha | Coverage |
|---|---|---|---|---|
| 2026-06-30 | -12.1% | +0.4% | -12.5% | 60% |
| 2026-03-31 | +3.7% | +4.9% | -1.2% | 74% |
| 2025-12-31 | -2.9% | +7.9% | -10.8% | 85% |
| 2025-09-30 | +3.9% | +3.4% | +0.5% | 90% |
| 2025-06-30 | -4.4% | +3.7% | -8.2% | 84% |
| 2025-03-31 | +11.3% | +8.6% | +2.7% | 90% |
| 2024-12-31 | -4.1% | -2.5% | -1.5% | 87% |
| 2024-09-30 | +12.9% | +4.7% | +8.2% | 84% |
| 2024-06-30 | +28.3% | +6.2% | +22.1% | 82% |
| 2024-03-31 | +0.8% | +4.9% | -4.1% | 88% |
| 2023-12-31 | +3.7% | +5.6% | -1.9% | 88% |
| 2023-09-30 | +24.0% | +12.1% | +11.9% | 91% |
| 2023-06-30 | -1.6% | +1.9% | -3.5% | 92% |
| 2023-03-31 | +13.4% | +8.4% | +5.0% | 91% |
| 2022-12-31 | -2.3% | -0.5% | -1.7% | 88% |
| 2022-09-30 | +10.4% | +4.4% | +6.1% | 90% |
Filing dates
- 2026-08-1413F-HR for 2026-06-30 · $16.4B · 34 rows
- 2026-05-1513F-HR for 2026-03-31 · $12.5B · 36 rows
- 2026-02-1713F-HR for 2025-12-31 · $13.6B · 32 rows
- 2025-11-1413F-HR for 2025-09-30 · $13.7B · 25 rows
- 2025-08-1413F-HR for 2025-06-30 · $14.1B · 24 rows
- 2025-05-1513F-HR for 2025-03-31 · $11.6B · 24 rows
- 2025-02-1413F-HR for 2024-12-31 · $13.5B · 30 rows
- 2024-11-1413F-HR for 2024-09-30 · $13.4B · 29 rows
- 2024-08-1413F-HR for 2024-06-30 · $12.3B · 24 rows
- 2024-05-1513F-HR for 2024-03-31 · $12.7B · 26 rows
- 2024-02-1413F-HR for 2023-12-31 · $11.6B · 25 rows
- 2023-11-1413F-HR for 2023-09-30 · $10.4B · 26 rows
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