Stephen Mandel · quarter digest
What Stephen Mandel did in Q4 2025
Lone Pine Capital filed 36 moves in Q4 2025: 15 new, 8 add, 7 trim, 6 exit.
13F filed 2026-02-14. Manager quality score: q9. Philosophy: Long-only growth at a reasonable price. Deep research. Tiger Cub.
New positions · 15
Fresh money
ASMLASML HOLDING N V
NEW·4.8% book·+9
DASHDOORDASH INC
NEW·4.2% book·−18
MDLNMEDLINE INC
NEW·3.6% book·+3
CRSCARPENTER TECHNOLOGY CORP
NEW·3.0% book·−2
NEW·2.8% book·−8
“New Fortinet cybersecurity position.”
THCTENET HEALTHCARE CORP
NEW·2.6% book·−10
CLHCLEAN HARBORS INC
NEW·2.4% book·−2
AFRMAFFIRM HLDGS INC
NEW·2.1% book·−10
ENTGENTEGRIS INC
NEW·1.9% book·−8
MAMASTERCARD INCORPORATED
NEW·0.4% book·−1
TDGTRANSDIGM GROUP INC
NEW·0.2% book·−8
BSXBOSTON SCIENTIFIC CORP
NEW·0.1% book·−12
HLTHILTON WORLDWIDE HLDGS INC
NEW·0.1% book·−19
SPOTSPOTIFY TECHNOLOGY S A
NEW·0.1% book·−5
VVISA INC
NEW·0.0% book·−14
Adds · 8
Adding to conviction
AVGOBROADCOM INC
ADD +50%·9.8% book·−12
ADD +3%·6.4% book·−2
“Small add — already a top Lone Pine position.”
VSTVISTRA CORP
ADD +11%·6.2% book·+1
KKRKKR & CO INC
ADD +23%·4.7% book·−13
NUNU HLDGS LTD
ADD +17%·3.6% book·−13
TLNTALEN ENERGY CORP
ADD +8%·3.6% book·−10
VMCVULCAN MATLS CO
ADD +22%·3.5% book·+8
WINGWINGSTOP INC
ADD +7%·2.8% book·−11
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Remove with Pro →Trims · 7
Taking chips off
LPLALPL FINL HLDGS INC
TRIM -8%·5.4% book·−10
AMZNAMAZON COM INC
TRIM -14%·4.1% book·−6
COFCAPITAL ONE FINL CORP
TRIM -11%·4.1% book·−18
APPAPPLOVIN CORP
TRIM -30%·3.9% book·−8
PMPHILIP MORRIS INTL INC
TRIM -43%·3.1% book·−20
APHAMPHENOL CORP NEW
TRIM -7%·2.8% book·−8
BKNGBOOKING HOLDINGS INC
TRIM -85%·0.2% book·−8
Exits · 6
Closed positions
SBUXSTARBUCKS CORP
EXIT·0.0% book·−12
EQTEQT CORP
EXIT·0.0% book·−4
FLUTFLUTTER ENTMT PLC
EXIT·0.0% book·−7
SESEA LTD
EXIT·0.0% book·−4
CIENCIENA CORP
EXIT·0.0% book·−11
ETSYETSY INC
EXIT·0.0% book·−7
Current top holdings
Stephen Mandel’s book, latest snapshot
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Not investment advice. Data from 13F filings with HoldLens parsing. Methodology.
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