Stephen Mandel's Lone Pine Capital revealed a significant new investment in The Home Depot, acquiring 2.60 million shares valued at approximately $918.09 million. This disclosure, made in a quarterly 13F filing with the SEC, reflects the firm's holdings as of June 30, 2026, and represents a 5.61% weight in its reported portfolio.
This filing provides a delayed look at the hedge fund's activity and does not indicate a current transaction. The move is notable as Mandel has previously used Home Depot as a prime example of his investment philosophy, which favors companies that can reinvest capital at high returns over long periods. The investment was made during a quarter where Home Depot's sales exceeded expectations, driven by spending on smaller-scale projects.