According to his latest 13F filings, Steve Mandel’s top ten positions account for a substantial 60.18% of his $11.58 billion equity portfolio, showcasing a focused investment style built around dominant tech and consumer franchises. The portfolio is heavily tilted toward proven compounders in software, e-commerce, and digital infrastructure. Below is a detailed breakdown of his top five holdings, including changes and commentary.
Meta Platforms Inc-Class A (META)
- Shares: 1,758,062
- Value: $1,013,276,614
- Portfolio %: 8.75%
- Change in Shares: -278,868
- % Change in Shares: -13.69%
Analysis: Despite trimming over 13% of the position, Meta remains Mandel’s largest holding. This move likely reflects profit-taking after significant stock appreciation. With ongoing dominance in social media and growing AI integration across platforms, Meta still appears to be a cornerstone of Mandel’s tech conviction.
Intuit Inc (INTU)
- Shares: 1,403,802
- Value: $861,920,390
- Portfolio %: 7.44%
- Change in Shares: +247,040
- % Change in Shares: +21.36%
Analysis: The increase in Intuit signals renewed confidence in its long-term earnings power. With a robust portfolio spanning TurboTax, QuickBooks, and Credit Karma, Intuit benefits from SaaS scalability and financial automation tailwinds. Mandel’s boost suggests he sees continued upside.
Amazon.com Inc (AMZN)
- Shares: 4,352,740
- Value: $828,152,312
- Portfolio %: 7.15%
- Change in Shares: +563,706
- % Change in Shares: +14.88%
Analysis: Mandel added significantly to Amazon, aligning with his pattern of backing platform-scale companies with operational leverage. Whether through AWS, retail, or logistics, Amazon remains a multi-pronged growth engine that fits well into a long-term compounding strategy.
Microsoft Corp (MSFT)
- Shares: 1,960,328
- Value: $735,887,528
- Portfolio %: 6.36%
- Change in Shares: +320,631
- % Change in Shares: +19.55%
Analysis: Microsoft’s continued strength in cloud, AI, and enterprise software has prompted Mandel to expand his position. The company’s durable growth profile and capital efficiency make it a natural fit in any quality-focused portfolio.
Starbucks Corp (SBUX)
- Shares: 6,607,888
- Value: $648,167,734
- Portfolio %: 5.60%
- Change in Shares: +132,831
- % Change in Shares: +2.05%
Analysis: The modest increase in Starbucks highlights Mandel’s steady belief in the brand’s global reach and pricing power. While not a high-growth tech name, SBUX brings cash flow reliability and emerging market exposure — a stabilizer amid the tech-heavy tilt.
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