Stephen Mandel - Lone Pine Capital
Period:    Q1 2026
Portfolio date:    31 Mar 2026
No. of stocks:    36
Portfolio value:    $12,543,849,391
Holdings Activity Buys Sells    History
History Stock % of
Portfolio
Recent
Activity
Shares Reported
Price*
Value Current
Price
+/-
Reported
Price
52
Week
Low
52
Week
High
VST - Vistra Corp. 7.42 Add 18.72% 6,187,585 $150.33 $930,179,653 $148.76 -1.04% $132.66 $219.82
ASML - ASML Holding NV 6.90 Add 8.29% 655,148 $1,320.83 $865,339,133 $1,641.74 24.30% $683.48 $1,743.27
CRS - Carpenter Technology 5.71 Add 38.46% 1,817,940 $394.15 $716,541,051 $483.60 22.69% $228.00 $500.16
LPLA - LPL Financial Holdings Inc. 4.92 Reduce 1.20% 2,049,967 $300.83 $616,691,573 $288.49 -4.10% $260.15 $403.58
APP - Applovin Corp. 4.65 Add 87.68% 1,464,923 $398.00 $583,039,354 $557.20 40.00% $320.00 $745.61
TLN - Talen Energy Corp 4.63 Add 40.65% 1,817,947 $319.23 $580,343,221 $364.74 14.26% $246.95 $451.28
TER - Teradyne Inc. 4.43 Buy 1,872,876 $296.46 $555,232,819 $357.93 20.73% $81.07 $422.11
CVNA - Carvana Co. 4.40 Reduce 1.38% 8,773,545 $62.88 $551,645,415 $66.51 5.77% $54.46 $97.38
NU - Nu Holdings Ltd 4.35 Add 28.29% 38,011,225 $14.37 $546,221,303 $11.97 -16.70% $11.20 $18.98
MDLN - Medline Inc Cl A 4.18 Add 0.62% 11,789,156 $44.50 $524,617,442 $33.61 -24.47% $32.82 $50.88
GLW - Corning Inc. 4.03 Buy 3,718,147 $135.97 $505,556,448 $177.58 30.60% $49.47 $211.79
CLH - Clean Harbors Inc. 4.01 Add 27.34% 1,754,950 $286.73 $503,196,814 $283.03 -1.29% $201.34 $316.98
MTZ - MasTec Inc. 3.93 Buy 1,531,050 $321.74 $492,600,027 $363.89 13.10% $153.82 $441.43
TSM - Taiwan Semiconductor S.A. 3.74 Reduce 54.48% 1,389,530 $337.95 $469,591,664 $415.17 22.85% $202.28 $450.16
BN - Brookfield Corp. 3.62 Reduce 29.61% 11,208,969 $40.47 $453,626,975 $44.60 10.21% $37.93 $49.57
THC - Tenet Healthcare Corp. 3.40 Add 26.37% 2,258,717 $188.71 $426,242,485 $162.06 -14.12% $146.60 $247.21
COF - Capital One Financial 3.30 Reduce 1.21% 2,267,056 $182.43 $413,579,026 $180.67 -0.96% $174.98 $259.64
ENTG - Entegris Inc. 2.91 Add 1.99% 3,115,054 $117.24 $365,208,931 $125.41 6.97% $67.97 $159.15
USFD - US Foods Holding Corp. 2.79 Buy 3,795,998 $92.21 $350,028,976 $84.61 -8.24% $69.88 $102.13
PFGC - Performance Food Group 2.72 Buy 3,978,158 $85.66 $340,769,014 $97.12 13.38% $80.82 $109.05
MCK - McKesson Corp. 2.71 Buy 392,224 $865.36 $339,414,961 $775.66 -10.37% $637.00 $999.00
CIEN - Ciena Corp. 2.51 Buy 809,522 $388.23 $314,280,726 $488.21 25.75% $70.77 $637.51
WULF - Terawulf Inc 2.29 Buy 19,921,430 $14.43 $287,466,235 $24.00 66.32% $3.40 $27.47
HUT - Hut 8 Corp 2.27 Buy 6,078,951 $46.91 $285,163,591 $112.24 139.27% $15.26 $140.80
AGX - Argan Inc. 1.71 Buy 393,134 $544.65 $214,120,433 $694.72 27.55% $193.82 $778.13
GOOGL - Alphabet Inc. 0.43 Buy 187,561 $287.56 $53,935,041 $368.53 28.16% $162.00 $408.61
TDG - TransDigm Group Inc. 0.33 Add 85.55% 35,677 $1,158.96 $41,348,216 $1,238.74 6.88% $1,123.61 $1,623.83
VMC - Vulcan Materials 0.31 Reduce 91.44% 144,179 $272.30 $39,259,942 $281.38 3.33% $252.35 $331.09
SPOT - Spotify Technology S.A. 0.27 Add 287.59% 68,844 $484.91 $33,383,144 $496.95 2.48% $405.00 $785.00
MA - Mastercard Inc. 0.23 Reduce 40.62% 57,201 $499.66 $28,581,052 $491.08 -1.72% $464.52 $601.77
APH - Amphenol Corp. 0.22 Reduce 92.06% 223,084 $126.35 $28,186,663 $138.81 9.86% $91.06 $167.04
V - Visa Inc. 0.22 Add 509.68% 92,775 $302.24 $28,040,316 $323.57 7.06% $293.89 $375.51
HLT - Hilton Worldwide Holdings 0.22 Add 54.36% 89,249 $304.08 $27,138,836 $343.10 12.83% $241.45 $346.80
KKR - KKR & Co. L.P. 0.13 Reduce 96.41% 179,308 $92.50 $16,585,990 $93.40 0.97% $82.67 $153.87
BKNG - Booking Holdings Inc. 0.08 Reduce 48.06% 60,125 $168.41 $10,125,820 $165.84 -1.53% $150.14 $233.58
BSX - Boston Scientific 0.05 Reduce 48.11% 104,655 $62.75 $6,567,101 $48.55 -22.63% $47.17 $109.50
* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held.
Sector % analysis
Technology 24.74
Financial Services 21.33
Industrials 15.69
Utilities 12.04
Healthcare 10.34
Consumer Defensive 5.51
Communication Services 5.34
Consumer Cyclical 4.69
Basic Materials 0.31