Stephen Mandel's Concentrated Portfolio: Top Holdings Analysis
Lone Pine Capital's Stephen Mandel maintains a concentrated portfolio with significant positions in ASML, VST, and CRS as of March 31, 2026, with notable share increases in several holdings.
Stephen Mandel, through Lone Pine Capital, maintains a concentrated investment strategy as of March 31, 2026, with a portfolio valued at approximately $12 billion. His holdings demonstrate significant exposure to specific sectors and individual stocks, reflecting a focused approach to investment.
Mandel's largest position by value is in ASML Holding NV (ASML), accounting for 6.9% of his total portfolio. The stock, available at this link, showed an 8.29% increase in shares during the prior period.
Vistra Corp (VST) represents another major holding, comprising 7.42% of the portfolio. This Utilities stock, detailed at this link, saw an 18.72% increase in shares.
Carpenter Technology Corp (CRS), with a portfolio allocation of 5.71%, is the third-largest holding by value. This Industrials stock, available at this link, experienced a substantial 38.46% increase in shares.
LPL Financial Holdings Inc. (LPLA), a Financial Services company making up 4.92% of the portfolio, showed a slight decrease of 1.2% in shares during the prior period. More information can be found at this link.
Applovin Corp (APP), a Technology stock representing 4.65% of the portfolio, demonstrated remarkable growth with an 87.68% increase in shares. Details are available at this link.
Talen Energy Corp (TLN), with a 4.63% allocation, saw a 40.65% increase in shares during the prior period. This stock is covered at this link.
Teradyne Inc. (TER), a Technology holding at 4.43% of the portfolio, experienced a 100% increase in shares, indicating a full position build during the period. More information is available at this link.
Carvana Co. (CVNA), a Consumer Cyclical stock comprising 4.4% of the portfolio, saw a minor decrease of 1.38% in shares. Details can be found at this link.
Nu Hldgs Ltd. (G6683N103), with a 4.35% allocation, showed significant growth with a 28.29% increase in shares. This stock is discussed at this link.
Corning Inc. (GLW), a Technology holding at 4.03% of the portfolio, also saw a 100% increase in shares during the prior period. More information is available at this link.