Stephen Mandel
Lone Pine Capital · Growth / long-short Mandel's Lone Pine, a 'Tiger Cub,' runs a growth-oriented long/short book concentrated in quality compounders.
Stephen Mandel Jr. (born 1956) is an American hedge fund manager who founded Lone Pine Capital in 1997. A 'Tiger Cub' who trained under Julian Robertson at Tiger Management, Mandel built Lone Pine into one of the largest and most respected long/short equity funds, focused on high-quality growth businesses. He stepped back from day-to-day portfolio management in 2019 but remains the firm's figurehead.
显示全部 34 个申报的 13(f) 持仓；TradingPilot 只为其中 12 个与其整理过的公司库匹配的持仓建立链接——并未使用需付费授权的 CUSIP↔代码对照库。未匹配的持仓按申报原样以纯文本呈现。
组合配置（申报的 13F 股票）
仅含在美国上市的多头股票持仓；不含期权。
- NBIS7.2%
- ASML6.9%
- STX5.9%
- HOME DEPOT INC5.6%
- AMAT5.3%
- MEDLINE INC5.1%
- LINDE PLC4.9%
- TER4.4%
- GLW4.3%
- CARVANA CO4.2%
- Others46.1%
申报的 13F 股票市值——这不是回报，也不是管理规模
仅含在美国上市的多头股票持仓；申报有约 45 天的延迟。
| # | 代码 | 证券名称（申报原文） | 占 13F 比例 | 股数 | 申报均价 | 当前 | 金额 | 变动 |
|---|---|---|---|---|---|---|---|---|
| 1 | NBIS | NEBIUS GROUP N.V. | 7.2% | 4,258,008 | $276.17 | $154.14 -44.2% | $1.2B | 新建仓 |
| 2 | ASML | ASML HLDG NV | 6.9% | 569,174 | $1,989.44 | $1,565.90 -21.3% | $1.1B | 减仓 −13% |
| 3 | STX | SEAGATE TECHNOLOGY HLDNGS PL | 5.9% | 1,000,109 | $965.00 | $644.58 -33.2% | $965.1M | 新建仓 |
| 4 | — | HOME DEPOT INC | 5.6% | 2,603,189 | $352.68 | — | $918.1M | 新建仓 |
| 5 | AMAT | APPLIED MATLS INC | 5.3% | 1,207,737 | $723.00 | $390.09 -46.0% | $873.2M | 新建仓 |
| 6 | — | MEDLINE INC | 5.1% | 20,968,367 | $39.44 | — | $827.0M | 加仓 +78% |
| 7 | — | LINDE PLC | 4.9% | 1,558,081 | $518.94 | — | $808.6M | 新建仓 |
| 8 | TER | TERADYNE INC | 4.4% | 1,493,080 | $483.84 | $274.37 -43.3% | $722.4M | 减仓 −20% |
| 9 | GLW | CORNING INC | 4.3% | 2,728,058 | $255.43 | $123.31 -51.7% | $696.8M | 减仓 −27% |
| 10 | — | CARVANA CO | 4.2% | 10,520,666 | $65.82 | — | $692.5M | 加仓 +500% |
| 11 | HUT | HUT 8 CORP | 4.1% | 5,773,045 | $115.44 | $59.40 -48.5% | $666.5M | 减仓 −5% |
| 12 | — | PERFORMANCE FOOD GROUP CO | 4.0% | 5,852,740 | $111.79 | — | $654.3M | 加仓 +47% |
| 13 | — | NU HLDGS LTD | 3.9% | 47,219,717 | $13.36 | — | $630.9M | 加仓 +24% |
| 14 | WULF | TERAWULF INC | 3.6% | 24,144,625 | $24.70 | $11.73 -52.5% | $596.4M | 加仓 +21% |
| 15 | — | CARPENTER TECHNOLOGY CORP | 3.6% | 962,839 | $616.84 | — | $593.9M | 新建仓 |
| 16 | — | MASTEC INC | 3.4% | 1,345,157 | $416.06 | — | $559.7M | 新建仓 |
| 17 | APP | APPLOVIN CORP | 3.3% | 1,042,268 | $515.23 | $228.50 -55.7% | $537.0M | 减仓 −29% |
| 18 | — | TTM TECHNOLOGIES INC | 3.1% | 2,738,075 | $187.02 | — | $512.1M | 新建仓 |
| 19 | — | STERLING INFRASTRUCTURE INC | 3.1% | 609,643 | $839.36 | — | $511.7M | 新建仓 |
| 20 | — | US FOODS HLDG CORP | 3.1% | 4,914,492 | $102.25 | — | $502.5M | 加仓 +29% |
| 21 | — | ON HLDG AG | 2.9% | 13,280,030 | $35.42 | — | $470.4M | 新建仓 |
| 22 | — | LPL FINL HLDGS INC | 2.1% | 1,219,099 | $281.68 | — | $343.4M | 减仓 −41% |
| 23 | — | ARGAN INC | 1.8% | 368,673 | $798.55 | — | $294.4M | 减仓 −6% |
| 24 | — | BITDEER TECHNOLOGIES GROUP | 0.7% | 7,020,026 | $15.87 | — | $111.4M | 新建仓 |
| 25 | — | SHARONAI HOLDINGS INC | 0.6% | 1,209,848 | $84.66 | — | $102.4M | 新建仓 |
| 26 | GOOGL | ALPHABET INC | 0.5% | 215,574 | $357.37 | $279.84 -21.7% | $77.0M | 加仓 +15% |
| 27 | — | KODIAK GAS SVCS INC | 0.4% | 845,070 | $75.13 | — | $63.5M | 新建仓 |
| 28 | V | VISA INC | 0.3% | 165,960 | $343.09 | $413.59 +20.5% | $56.9M | 加仓 +79% |
| 29 | — | INTERACTIVE BROKERS GROUP IN | 0.3% | 577,666 | $87.04 | — | $50.3M | 新建仓 |
| 30 | TSM | TAIWAN SEMICONDUCTOR MANUFAC | 0.3% | 101,242 | $477.57 | $406.13 -15.0% | $48.4M | 减仓 −93% |
| 31 | — | SEA LTD | 0.3% | 494,581 | $95.83 | — | $47.4M | 新建仓 |
| 32 | — | MCKESSON CORP | 0.3% | 57,851 | $755.60 | — | $43.7M | 新建仓 |
| 33 | — | TRANSDIGM GROUP INC | 0.2% | 28,532 | $1,332.04 | — | $38.0M | 新建仓 |
| 34 | — | BROOKFIELD CORP | 0.2% | 792,717 | $42.59 | — | $33.8M | 减仓 −93% |
| — | APH | AMPHENOL CORP | — | 0 | — | — | $0 | 已清仓 −100% |
| — | — | BOOKING HOLDINGS INC | — | 0 | — | — | $0 | 已清仓 −100% |
| — | — | BOSTON SCIENTIFIC CORP | — | 0 | — | — | $0 | 已清仓 −100% |
| — | — | CAPITAL ONE FINL CORP | — | 0 | — | — | $0 | 已清仓 −100% |
| — | CIEN | CIENA CORP | — | 0 | — | — | $0 | 已清仓 −100% |
| — | — | CLEAN HARBORS INC | — | 0 | — | — | $0 | 已清仓 −100% |
| — | — | ENTEGRIS INC | — | 0 | — | — | $0 | 已清仓 −100% |
| — | — | HILTON WORLDWIDE HLDGS INC | — | 0 | — | — | $0 | 已清仓 −100% |
| — | — | KKR & CO INC | — | 0 | — | — | $0 | 已清仓 −100% |
| — | — | MASTERCARD INCORPORATED | — | 0 | — | — | $0 | 已清仓 −100% |
| — | — | SPOTIFY TECHNOLOGY S A | — | 0 | — | — | $0 | 已清仓 −100% |
| — | TLN | TALEN ENERGY CORP | — | 0 | — | — | $0 | 已清仓 −100% |
| — | VST | VISTRA CORP | — | 0 | — | — | $0 | 已清仓 −100% |
| — | — | VULCAN MATLS CO | — | 0 | — | — | $0 | 已清仓 −100% |
申报均价 = 季末的金额 ÷ 股数——这是一个平均值，并非管理人的买入或卖出价。
“当前”显示的是自申报季末以来该股票的价格变动（仅限已匹配的名字）——这是股票本身的涨跌，不是管理人的已实现收益（我们并不知道他们的成本，也不知道他们是否仍持有）。
TradingPilot 对其申报 13F 股票组合的分析
截至 2026Q2，Stephen Mandel 申报的 13F 组合持有 34 个股票持仓；其中最大的 5 个占其 31%。
- NEBIUS GROUP N.V. (NBIS) — 占 13F 的 7.2%
- ASML HLDG NV (ASML) — 占 13F 的 6.9%
- SEAGATE TECHNOLOGY HLDNGS PL (STX) — 占 13F 的 5.9%
- HOME DEPOT INC — 占 13F 的 5.6%
- APPLIED MATLS INC (AMAT) — 占 13F 的 5.3%
本季度：新建 17 个，加仓 8 个，减仓 9 个，清仓 14 个。
- BROOKFIELD CORP — 减仓 (−10,416,252 股)
- NU HLDGS LTD — 加仓 (+9,208,492 股)
- MEDLINE INC — 加仓 (+9,179,211 股)
- CARVANA CO — 加仓 (+8,765,957 股)
- VISTRA CORP (VST) — 已清仓 (−6,187,585 股)