Stephen Mandel
Lone Pine Capital
Lone Pine Capital Portfolio 13F
Stephen Mandel Holdings Activity
- Portfolio value:
- $13.74B≈ (-$69M≈)
- Previous value:
- $13.81B≈
- # of changes:
- 28
- New positions:
- 8
- Reported for:
- 30 Sep 2025 (Q3)
- Latest filing date:
- 14 Nov 2025
Lone Pine Capital has disclosed a total of 28 changes to the portfolio in the (2025 Q3) SEC report(s): increased the number of shares of 5, bought 8 totally new, decreased the number of shares of 10 and completely sold out 5 position(s).
What stocks did Stephen Mandel buy in 2025 Q3?
During 2025 Q3 Stephen Mandel has bought 13 securities out of which top 5 purchases (by % change to portfolio) were (LPLA) LPL Financial Holdings Inc (added shares +20.48%), (PM) Philip Morris International Inc (added shares +67.33%), (BN) Brookfield Corp (added shares +81.12%), (AVGO) Broadcom Inc (new buy) and (TLN) Talen Energy Corp (added shares +9.47%).
In the 2025 Q3 report(s) the following changes have been made to the top investments: (META) Meta Platforms Inc (reduced shares -20.59%), (VST) Vistra Corp (reduced shares -27.37%), (TSM) Taiwan Semiconductor Manufacturing (reduced shares -11.16%), (APP) Applovin Corp (reduced shares -12.07%) and (LPLA) LPL Financial Holdings Inc (added shares +20.48%).
28 results
| History | Ticker | Name |
% or activity |
Shares change |
Shares held after* |
% change to portfolio |
Reported price* |
% difference current price* |
% of portfolio |
Held since* | Held for* |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Amphenol Corp
|
new
|
+3,023,231
|
3,023,231
|
+2.72%
|
$123.75
|
+30.89%($161.98)
|
2.72%
|
2025 Q3
|
≈ 0.25 years
|
|
|
|
Broadcom Inc
|
new
|
+1,549,412
|
1,549,412
|
+3.72%
|
$329.91
|
+17.62%($388.04)
|
3.72%
|
2025 Q3
|
≈ 0.25 years
|
|
|
|
Ciena Corp
|
new
|
+2,006,662
|
2,006,662
|
+2.13%
|
$145.67
|
+163.81%($384.28)
|
2.13%
|
2025 Q3
|
≈ 0.25 years
|
|
|
|
Etsy, Inc
|
new
|
+3,880,316
|
3,880,316
|
+1.87%
|
$66.39
|
+24.72%($82.80)
|
1.87%
|
2025 Q3
|
≈ 0.25 years
|
|
|
|
NU HOLDINGS LTD/CAYMAN ISL-A
|
new
|
+25,406,449
|
25,406,449
|
+2.96%
|
$16.01
|
-9.56%($14.48)
|
2.96%
|
2025 Q3
|
≈ 0.25 years
|
|
|
|
Sea Ltd
|
new
|
+1,869,501
|
1,869,501
|
+2.43%
|
$178.73
|
-40.18%($106.92)
|
2.43%
|
2025 Q3
|
≈ 0.25 years
|
|
|
|
Vulcan Materials Company
|
new
|
+1,384,624
|
1,384,624
|
+3.1%
|
$307.62
|
-12.01%($270.67)
|
3.10%
|
2025 Q3
|
≈ 0.25 years
|
|
|
|
Wingstop Inc
|
new
|
+1,491,245
|
1,491,245
|
+2.73%
|
$251.68
|
-47.13%($133.06)
|
2.73%
|
2025 Q3
|
≈ 0.25 years
|
|
|
|
Brookfield Corp
|
+81.12%
|
+4,559,963
|
10,181,348
|
+2.28%
|
$68.58
|
-37.71%($42.72)
|
5.08%
|
2025 Q2
|
≈ 0.50 years
|
|
|
|
Philip Morris International Inc
|
+67.33%
|
+1,856,749
|
4,614,443
|
+2.19%
|
$162.20
|
+18.30%($191.88)
|
5.45%
|
2023 Q4
|
≈ 2.00 years
|
|
* Shares, change to shares, sold shares, shares held after: split-adjusted.
* Reported price: this doesn't represent the actual buy or sell price. It is the split-adjusted price of the security as of the last day of the reported period.
* Current price: this can be a delayed price and may not reflect the real-time market value, however it is too close.
* Value or Price: If the security is completely sold out, we show the reported value (or price) prior to the actual period.
* Held since / Held for: calculated since the latest "new buy" position. If the security was previously exited and re-entered, only the most recent holding period is counted.