NEBIUS GROUP NV (NBIS) is now the largest holding in Stephen Mandel's Lone Pine Capital portfolio, at 7.19% as of June 30, 2026, according to the 13F-HR filed with the SEC on August 14, 2026. NBIS was not in the book a quarter earlier. The filing lists 4.26M shares worth about $1.2B.
What did the 2026 Q2 filing report for NBIS?
As of June 30, 2026, from the 13F-HR filed August 14, 2026.
| Value | |
|---|---|
| Portfolio weight | 7.19% |
| Shares | 4.26M |
| Reported value | $1.2B |
| Rank in portfolio | 1st of 34 |
| Rank a quarter earlier | not held |
| Largest holding a quarter earlier | VST at 7.42% |
| Next largest holding now | ASML at 6.92% |
How did NBIS become the largest holding?
Stephen Mandel opened the position in 2026 Q2. Stephen Mandel sold out of VST, the largest holding a quarter earlier at 7.42%. The next largest holding now is ASML at 6.92%.
Where does NBIS sit in the Stephen Mandel portfolio?
NBIS is the largest of 34 stock positions in the Stephen Mandel portfolio at 7.19%, above the fund's average stock position of 3%. The NBIS purchase was the 2nd largest of the quarter's 49 position changes by percent change to portfolio. Across the 2026 Q2 portfolio, Stephen Mandel reported 34 stock positions, with 13 opened and 15 closed. The total portfolio value is about $16.4B, up 30% from the prior quarter.
How long has Stephen Mandel held NBIS?
Stephen Mandel first reported NBIS in the quarter ended March 31, 2014. The fund sold out of the name in 2014 Q2 and came back in 2026 Q2. Every reported trade is on the Stephen Mandel NBIS trade history page.
FAQ
What is the largest holding in the Stephen Mandel portfolio?
NBIS is the largest holding in the Stephen Mandel portfolio as of 2026 Q2, at 7.19% of the reported value.
What was the largest holding of Stephen Mandel a quarter earlier?
VST, at 7.42% of the book. Stephen Mandel sold out of VST, the largest holding a quarter earlier at 7.42%.
How did NBIS become the largest holding of Stephen Mandel?
NBIS was not in the book a quarter earlier. Stephen Mandel opened the position in 2026 Q2. Stephen Mandel sold out of VST, the largest holding a quarter earlier at 7.42%.
How many NBIS shares does Stephen Mandel hold?
Stephen Mandel holds 4.26M shares of NBIS, worth about $1.2B at June 30, 2026 prices.