Stephen Mandel - Lone Pine Capital Portfolio Holdings
As of Dec 31, 2025, the Lone Pine Capital portfolio holdings is valued at approximately $13,611,137,640.00 featuring 31 publicly traded holdings. This in-depth profile highlights the top investments led by TAIWAN SEMICONDUCTOR MFG LTD (TSM), VISTRA CORP (VST), CARVANA CO (CVNA), LPL FINL HLDGS INC (LPLA), and others based on the company's latest SEC filings reported on Feb 17, 2026. Explore insights into portfolio composition, sector allocation, and recent trade activity.
Lone Pine Capital's stock portfolio spans 31 holdings across 10 sectors, with a total market value of $13,611,137,640.00. The Technology sector represents the largest allocation, while the top holdings account for nearly 54% of the total portfolio value. TAIWAN SEMICONDUCTOR MFG LTD remains the single largest position at 6.8% of all equity investments.
Complete Holdings
Showing 31 of 31 holdings.
| # | Company | Symbol | Sector | Portfolio % | Shares | Change (Shares) | Change % | Value |
|---|---|---|---|---|---|---|---|---|
| 1 | TAIWAN SEMICONDUCTOR MFG LTD | TSM | Technology | 6.81% | 3,052,400 | - | - | $927,593,836.00 |
| 2 | VISTRA CORP | VST | Utilities | 6.18% | 5,211,885 | +512,644 | +10.91% | $840,833,407.00 |
| 3 | CARVANA CO | CVNA | Consumer Cyclical | 5.52% | 1,779,328 | +14,037 | +0.80% | $750,912,003.00 |
| 4 | LPL FINL HLDGS INC | LPLA | Financial Services | 5.44% | 2,074,948 | -180,766 | -8.01% | $741,109,177.00 |
| 5 | BROOKFIELD CORP | BN | Financial Services | 5.37% | 15,923,360 | +5,742,012 | +56.40% | $730,722,990.00 |
| 6 | ASML HOLDING N V | ASML | Other | 4.76% | 605,017 | +38,155 | +6.73% | $647,283,488.00 |
| 7 | KKR & CO INC | KKR | Financial Services | 4.68% | 5,001,085 | +920,524 | +22.56% | $637,538,316.00 |
| 8 | BROADCOM INC | AVGO | Technology | 4.40% | 1,730,216 | +180,804 | +11.67% | $598,827,758.00 |
| 9 | MICROSOFT CORP | MSFT | Technology | 4.38% | 1,234,125 | +25,520 | +2.11% | $596,847,533.00 |
| 10 | DOORDASH INC | DASH | Communication Services | 4.21% | 2,529,879 | -2,024,900 | -44.46% | $572,966,996.00 |
| 11 | AMAZON COM INC | AMZN | Consumer Cyclical | 4.09% | 2,414,520 | -397,408 | -14.13% | $557,319,506.00 |
| 12 | CAPITAL ONE FINL CORP | COF | Financial Services | 4.09% | 2,294,891 | -274,600 | -10.69% | $556,189,783.00 |
| 13 | APPLOVIN CORP | APP | Technology | 3.86% | 780,530 | -328,608 | -29.63% | $525,936,725.00 |
| 14 | NU HLDGS LTD | G6683N103 | Other | 3.64% | 29,630,237 | +4,223,788 | +16.62% | $496,010,167.00 |
| 15 | TALEN ENERGY CORP | TLN | Other | 3.56% | 1,292,516 | +100,000 | +8.39% | $484,486,697.00 |
| 16 | VULCAN MATLS CO | VMC | Basic Materials | 3.53% | 1,683,932 | +299,308 | +21.62% | $480,291,085.00 |
| 17 | PHILIP MORRIS INTL INC | PM | Consumer Defensive | 3.12% | 2,643,579 | -1,970,864 | -42.71% | $424,030,072.00 |
| 18 | CARPENTER TECHNOLOGY CORP | CRS | Industrials | 3.04% | 1,312,938 | +1,312,938 | +100.00% | $413,365,400.00 |
| 19 | WINGSTOP INC | WING | Consumer Cyclical | 2.80% | 1,595,258 | +104,013 | +6.97% | $380,453,080.00 |
| 20 | AMPHENOL CORP NEW | APH | Technology | 2.79% | 2,809,773 | -213,458 | -7.06% | $379,712,723.00 |
| 21 | TENET HEALTHCARE CORP | THC | Healthcare | 2.61% | 1,787,326 | +1,787,326 | +100.00% | $355,177,423.00 |
| 22 | CLEAN HARBORS INC | CLH | Industrials | 2.37% | 1,378,125 | +1,378,125 | +100.00% | $323,142,750.00 |
| 23 | AFFIRM HLDGS INC | AFRM | Technology | 2.09% | 3,817,170 | +3,817,170 | +100.00% | $284,111,963.00 |
| 24 | ENTEGRIS INC | ENTG | Technology | 1.89% | 3,054,230 | +3,054,230 | +100.00% | $257,318,878.00 |
| 25 | MASTERCARD INCORPORATED | MA | Financial Services | 0.40% | 96,338 | -947,219 | -90.77% | $54,997,437.00 |
| 26 | TRANSDIGM GROUP INC | TDG | Industrials | 0.19% | 19,228 | -417,512 | -95.60% | $25,570,356.00 |
| 27 | BOOKING HOLDINGS INC | BKNG | Consumer Cyclical | 0.18% | 4,630 | -26,521 | -85.14% | $24,795,178.00 |
| 28 | BOSTON SCIENTIFIC CORP | BSX | Healthcare | 0.14% | 201,703 | +201,703 | +100.00% | $19,232,381.00 |
| 29 | HILTON WORLDWIDE HLDGS INC | HLT | Consumer Cyclical | 0.12% | 57,817 | -2,894,835 | -98.04% | $16,607,933.00 |
| 30 | SPOTIFY TECHNOLOGY S A | SPOT | Other | 0.08% | 17,762 | -895,802 | -98.06% | $10,314,571.00 |
| 31 | VISA INC | V | Financial Services | 0.04% | 15,217 | -1,226,724 | -98.77% | $5,336,754.00 |
Holdings by Sector
| Sector | Allocation | Value |
|---|---|---|
| Technology | 27.22% | $3,570,349,416.00 |
| Financial Services | 20.78% | $2,725,894,457.00 |
| Consumer Cyclical | 13.19% | $1,730,087,700.00 |
| Other | 12.49% | $1,638,094,923.00 |
| Utilities | 6.41% | $840,833,407.00 |
| Industrials | 5.81% | $762,078,506.00 |
| Communication Services | 4.37% | $572,966,996.00 |
| Basic Materials | 3.66% | $480,291,085.00 |
| Consumer Defensive | 3.23% | $424,030,072.00 |
| Healthcare | 2.85% | $374,409,804.00 |
Portfolio insights
As of Dec 31, 2025, the Lone Pine Capital portfolio holds 31 securities valued at $13,119,036,366.00. The Technology sector represents the largest allocation, while the top positions account for a significant portion of the total portfolio weight.