Investor: Stephen Mandel
Number of Assets: 25
Reporting Period: Q3 - 2025
Holdings at Report: $13,742,951,177
Return Since Report: -$216,965,834
Return Since Report: -1.58%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Applovin Corp. (APP) | Equity | -12.07% | 1,109,138 | 5.80% | $718.54 | $681.46 | $796,960,019 | $755,833,181 | -$41,126,838 | -5.16% |
| Carvana Co. (CVNA) | Equity | 0% | 1,765,291 | 4.85% | $377.24 | $464.78 | $665,938,377 | $820,471,951 | +$154,533,574 | +23.21% |
| KKR & Co. Inc. (KKR) | Equity | -21.85% | 4,080,561 | 3.86% | $129.95 | $136.61 | $530,268,902 | $557,445,438 | +$27,176,536 | +5.13% |
| Philip Morris International Inc. (PM) | Equity | +67.33% | 4,614,443 | 5.45% | $162.20 | $152.73 | $748,462,655 | $704,740,807 | -$43,721,848 | -5.84% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | -11.16% | 3,052,400 | 6.20% | $279.29 | $294.28 | $852,504,796 | $898,260,272 | +$45,755,476 | +5.37% |
| Starbucks Corp. (SBUX) | Equity | 0% | 5,561,954 | 3.42% | $84.60 | $85.79 | $470,541,308 | $477,160,034 | +$6,618,726 | +1.41% |
| Vistra Corp. (VST) | Equity | -27.37% | 4,699,241 | 6.70% | $195.92 | $171.15 | $920,675,297 | $804,270,398 | -$116,404,899 | -12.64% |
| Amphenol Corp. (APH) | Equity | +100% | 3,023,231 | 2.72% | $123.75 | $130.05 | $374,124,836 | $393,171,192 | +$19,046,356 | +5.09% |
| Capital One Financial Corp. (COF) | Equity | -16.59% | 2,569,491 | 3.97% | $212.58 | $237.02 | $546,222,397 | $609,013,048 | +$62,790,651 | +11.50% |
| Flutter Entertainment PLC (FLUT) | Equity | -6.95% | 1,733,336 | 3.20% | $254.00 | $223.40 | $440,267,344 | $387,227,262 | -$53,040,082 | -12.05% |
| Nu Holdings Ltd. (NU) | Equity | +100% | 25,406,449 | 2.96% | $16.01 | $17.00 | $406,757,248 | $431,782,601 | +$25,025,353 | +6.15% |
| Broadcom Inc. (AVGO) | Equity | +100% | 1,549,412 | 3.72% | $329.91 | $360.35 | $511,166,513 | $558,333,713 | +$47,167,200 | +9.23% |
| EQT Corp. (EQT) | Equity | +11.22% | 8,361,889 | 3.31% | $54.43 | $55.57 | $455,137,618 | $464,670,172 | +$9,532,554 | +2.09% |
| Meta Platforms Inc. (META) | Equity | -20.59% | 1,322,260 | 7.07% | $734.38 | $646.63 | $971,041,299 | $855,012,984 | -$116,028,315 | -11.95% |
| Talen Energy Corp. (TLN) | Equity | +9.47% | 1,192,516 | 3.69% | $425.38 | $358.70 | $507,272,456 | $427,749,527 | -$79,522,929 | -15.68% |
| Amazon.com Inc. (AMZN) | Equity | -44.14% | 2,811,928 | 4.49% | $219.57 | $226.83 | $617,415,031 | $637,829,628 | +$20,414,597 | +3.31% |
| Brookfield Corp. (BN) | Equity | +81.12% | 10,181,348 | 5.08% | $68.58 | $45.66 | $698,236,846 | $464,890,531 | -$233,346,315 | -33.42% |
| Etsy Inc. (ETSY) | Equity | +100% | 3,880,316 | 1.87% | $66.39 | $53.89 | $257,614,179 | $209,110,229 | -$48,503,950 | -18.83% |
| Microsoft Corp. (MSFT) | Equity | -34.84% | 1,208,605 | 4.56% | $517.95 | $478.84 | $625,996,960 | $578,728,418 | -$47,268,542 | -7.55% |
| Wingstop Inc. (WING) | Equity | +100% | 1,491,245 | 2.73% | $251.68 | N/A | $375,316,542 | N/A | N/A | N/A |
| Vulcan Materials Company (VMC) | Equity | +100% | 1,384,624 | 3.10% | $307.62 | $294.87 | $425,938,035 | $408,284,079 | -$17,653,956 | -4.14% |
| Booking Holdings Inc. (BKNG) | Equity | -48.06% | 31,151 | 1.22% | $5,399.27 | $5,318.58 | $168,192,660 | $165,679,086 | -$2,513,574 | -1.49% |
| Ciena Corp. (CIEN) | Equity | +100% | 2,006,662 | 2.13% | $145.67 | $219.84 | $292,310,454 | $441,134,541 | +$148,824,087 | +50.91% |
| Lpl Financial Holdings Inc. (LPLA) | Equity | +20.48% | 2,255,714 | 5.46% | $332.69 | $384.84 | $750,453,491 | $868,088,976 | +$117,635,485 | +15.68% |
| Sea Limited (SE) | Equity | +100% | 1,869,501 | 2.43% | $178.73 | $123.98 | $334,135,914 | $231,780,734 | -$102,355,180 | -30.63% |