Stephen Mandel's Lone Pine Capital Portfolio: Top Holdings Analysis for 2025

As of December 31, 2025, investor Stephen Mandel's portfolio at Lone Pine Capital stands at a substantial value of approximately $13.1 billion. This comprehensive analysis focuses on the top holdings within his portfolio, showcasing his strategic investments across various sectors.

Among the largest positions in Mandel's portfolio is VISTRA Corp (VST), representing about 6.18% of the total. This investment in the Utilities sector has seen a significant increase, with holdings rising by 10.91% compared to the previous period.

Consumer Cyclical companies feature prominently in the top holdings, with Carvana Co (CVNA) holding a 5.52% allocation. Similarly, Amazon.com Inc (AMZN) makes up 4.09% of the portfolio. Both companies show notable share changes, with Carvana experiencing a slight increase and Amazon seeing a decrease.

Financial Services is another major sector in Mandel's portfolio, with investments in LPL Financial Holdings Inc (LPLA) at 5.44% and Brookfield Corp (BN) at 5.37%. KKR & Co Inc (KKR) also features at 4.68%, adding to the financial services allocation. These holdings show varied changes, with KKR seeing a substantial increase of 22.56%.

Technology sector exposure includes Broadcom Inc (AVGO) at 4.4% and Microsoft Corp (MSFT) at 4.38%. Both companies demonstrate positive share changes, with Microsoft seeing an increase of 2.11%.

Other notable positions include ASML Holding NV (ASML) in the Technology sector and DoorDash Inc (DASH) in Communication Services. DoorDash experienced a significant decrease in its portfolio allocation.

For detailed insights into Stephen Mandel's investment strategy and performance, readers can explore his profile at https://www.insiderset.com/investor/stephen-mandel-lone-pine-capital. Specific stock analyses are available at https://www.insiderset.com/investors/stocks/VST, https://www.insiderset.com/investors/stocks/CVNA, and similar links for each stock mentioned.