Stephen Mandel's Lone Pine Capital returned to NEBIUS GROUP NV (NBIS) in 2026 Q2, according to the 13F-HR filed with the SEC on August 14, 2026: 4.26M shares worth about $1.2B at June 30, 2026, 7.19% of the portfolio. The fund had sold out of the name in 2014 Q2. NBIS enters the book as the 1st largest of 34 stock positions.
What did the 2026 Q2 filing report for NBIS?
As of June 30, 2026, from the 13F-HR filed August 14, 2026.
| Value | |
|---|---|
| Shares | 4.26M |
| Reported value | $1.2B |
| Portfolio weight | 7.19% |
| Rank in portfolio | 1st of 34 |
| Sold out in | 2014 Q2 |
| Out for | 12 years |
How big is the returning NBIS position?
Stephen Mandel opened 13 stock positions in 2026 Q2; NBIS is the largest of them by weight. An average stock position in the Stephen Mandel portfolio is 3% of the reported value, so the new name comes in above the fund's typical size.
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%. Next come ASML at 6.92% and STX at 5.9%. The three largest stocks together are 20.01% of the book. 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.
When did Stephen Mandel hold NBIS before?
Stephen Mandel held NBIS before. The fund first reported the name in the quarter ended March 31, 2014, sold out in 2014 Q2 and is back after 12 years out. The new stake is already larger than any weight the fund reported for the name before. Every reported trade is on the Stephen Mandel NBIS trade history page.
FAQ
How many NBIS shares does Stephen Mandel hold?
Stephen Mandel holds 4.26M shares of NBIS as of June 30, 2026, worth about $1.2B.
What is NBIS's weight in the Stephen Mandel portfolio?
NBIS is 7.19% of the Stephen Mandel portfolio and is the largest stock in the book.
Has Stephen Mandel owned NBIS before?
Yes. Stephen Mandel held NBIS before. The fund first reported the name in the quarter ended March 31, 2014, sold out in 2014 Q2 and is back after 12 years out.