Stephen Mandel - Lone Pine Capital
As of Q2 2026, Stephen Mandel reported 34 long-equity positions worth $16.36B in aggregate.
Copy-investor backtest
- Latest quarter
- +5.33%
- 1-year
- +0.67%
- 3-year
- +86.37%
- 5-year
- +38.17%
- 3-year vs S&P 500
- +13.12%
- 5-year vs S&P 500
- -50.29%
- 5-year top 5
- +42.20%
Return from mechanically copying the disclosed 13F equity portfolio after each filing and rebalancing at the next. The vs S&P 500 figures subtract SPY over that manager's own rebalance dates, so both sides cover the same days; both are price return, excluding dividends. Method & limitations.
Get email alerts when Stephen Mandel files a new 13F — sign in or create a free account.
Updated 2026-09-19 from SEC 13F data.
Live quotes available for 30 of 68 rows. Rows without a quote are marked unavailable.
| 1 | DG | DOLLAR GEN CORP NEW | 5.22% | Add +6.9% | 18,904,632 | $1.14B | $60.32 | No quote |
| 2 | CTSH | COGNIZANT TECHNOLOGY SOLUTIO | 4.96% | Reduce -10.2% | 10,742,645 | $1.08B | $100.98 | No quote |
| 3 | PCLN | PRICELINE COM INC | 4.71% | Reduce -8.8% | 884,756 | $1.03B | No quote | No quote |
| 4 | BIDU | BAIDU INC | 4.39% | Add +2.0% | 5,393,588 | $959.41M | $177.88 | No quote |
| 5 | MSFT | MICROSOFT CORP | 4.36% | New | 25,474,910 | $953.02M | $37.41 | No quote |
| 6 | VRX | VALEANT PHARMACEUTICALS INTL | 4.17% | Reduce -0.3% | 7,756,485 | $910.61M | No quote | No quote |
| 7 | QCOM | QUALCOMM INC | 3.70% | Reduce -18.3% | 10,886,598 | $808.33M | $74.25 | No quote |
| 8 | GPS | GAP INC DEL | 3.68% | Reduce -7.8% | 20,570,171 | $803.88M | No quote | No quote |
| 9 | MA | MASTERCARD INC | 3.63% | Add +35.7% | 950,596 | $794.19M | $835.46 | No quote |
| 10 | CCI | CROWN CASTLE INTL CORP | 3.48% | Add +63.5% | 10,367,263 | $761.27M | $73.43 | No quote |
| 11 | FOXA | TWENTY FIRST CENTY FOX INC | 3.28% | Add +9.1% | 20,406,235 | $717.69M | $35.17 | No quote |
| 12 | MON | MONSANTO CO NEW | 3.11% | Reduce -37.7% | 5,830,407 | $679.53M | No quote | No quote |
| 13 | HOUS | REALOGY HLDGS CORP | 2.81% | Add +3.6% | 12,430,198 | $614.92M | No quote | No quote |
| 14 | DVA | DAVITA HEALTHCARE PARTNERS I | 2.46% | Add +34.4% | 8,470,777 | $536.79M | $63.37 | No quote |
| 15 | FLT | FLEETCOR TECHNOLOGIES INC | 2.34% | Reduce -4.5% | 4,357,596 | $510.58M | No quote | No quote |
| 16 | KORS | MICHAEL KORS HLDGS LTD | 2.27% | Reduce -36.2% | 6,111,431 | $496.19M | No quote | No quote |
| 17 | ICE | INTERCONTINENTALEXCHANGE GRO | 2.26% | New | 2,199,424 | $494.69M | $224.92 | No quote |
| 18 | SBAC | SBA COMMUNICATIONS CORP | 2.24% | New | 5,456,548 | $490.22M | $89.84 | No quote |
| 19 | ULTA | ULTA SALON COSMETCS & FRAG I | 2.12% | Add +1.5% | 4,809,126 | $464.18M | $96.52 | No quote |
| 20 | WYN | WYNDHAM WORLDWIDE CORP | 2.12% | Add +10.1% | 6,282,391 | $462.95M | No quote | No quote |
| 21 | DLTR | DOLLAR TREE INC | 2.10% | Add +6.3% | 8,128,196 | $458.59M | $56.42 | No quote |
| 22 | TDG | TRANSDIGM GROUP INC | 2.04% | Add +8.3% | 2,768,629 | $445.81M | $161.02 | No quote |
| 23 | LBTYK | LIBERTY GLOBAL PLC | 2.00% | Add +30.8% | 5,184,770 | $437.18M | $84.32 | No quote |
| 24 | MHP | MCGRAW HILL FINL INC | 1.94% | New | 5,423,331 | $424.1M | No quote | No quote |
| 25 | AXP | AMERICAN EXPRESS CO | 1.82% | Reduce -29.6% | 4,392,879 | $398.57M | $90.73 | No quote |
| 26 | LBTYA | LIBERTY GLOBAL PLC | 1.82% | Add +39.2% | 4,459,542 | $396.9M | $89.00 | No quote |
| 27 | BEAV | B/E AEROSPACE INC | 1.76% | Reduce -6.8% | 4,418,185 | $384.52M | No quote | No quote |
| 28 | VRSN | VERISIGN INC | 1.74% | Add +29.8% | 6,344,858 | $379.3M | $59.78 | No quote |
| 29 | COH | COACH INC | 1.66% | - | 6,481,247 | $363.79M | No quote | No quote |
| 30 | MJN | MEAD JOHNSON NUTRITION CO | 1.36% | Reduce -46.3% | 3,560,693 | $298.24M | No quote | No quote |
| 31 | DSW | DSW INC | 1.34% | Add +130.3% | 6,861,538 | $293.19M | No quote | No quote |
| 32 | ENDP | ENDO HEALTH SOLUTIONS INC | 1.34% | New | 4,340,000 | $292.78M | No quote | No quote |
| 33 | KMIWS | KINDER MORGAN INC DEL | 1.30% | Reduce -3.3% | 69,913,434 | $283.85M | No quote | No quote |
| 34 | CME | CME GROUP INC | 1.30% | Reduce -35.7% | 3,614,948 | $283.63M | $78.46 | No quote |
| 35 | WDAY | WORKDAY INC | 1.17% | Reduce -12.4% | 3,085,065 | $256.55M | $83.16 | No quote |
| 36 | SEMG | SEMGROUP CORP | 1.17% | - | 3,906,318 | $254.81M | No quote | No quote |
| 37 | SWI | SOLARWINDS INC | 1.16% | Add +17.5% | 6,698,396 | $253.4M | No quote | No quote |
| 38 | OII | OCEANEERING INTL INC | 1.13% | Add +1.8% | 3,125,494 | $246.54M | No quote | No quote |
| 39 | LMCAD | LIBERTY MEDIA CORP DELAWARE | 1.02% | Reduce -5.6% | 1,521,783 | $222.63M | No quote | No quote |
| 40 | META | FACEBOOK INC | 0.75% | Reduce -60.7% | 3,000,441 | $163.97M | $54.65 | No quote |
| 41 | TW | TOWERS WATSON & CO | 0.64% | New | 1,098,124 | $140.13M | $127.61 | No quote |
| 42 | ASML | ASML HOLDING N V | 0.52% | Add +16.4% | 1,201,866 | $112.62M | $93.70 | No quote |
| 43 | CHTR | CHARTER COMMUNICATIONS INC D | 0.48% | Reduce -60.3% | 774,527 | $105.92M | $136.76 | No quote |
| 44 | LOW | LOWES COS INC | 0.48% | - | 2,114,588 | $104.78M | $49.55 | No quote |
| 45 | SEAS | SEAWORLD ENTMT INC | 0.40% | Add +76.2% | 3,058,260 | $87.99M | No quote | No quote |
| 46 | LL | LUMBER LIQUIDATORS HLDGS INC | 0.23% | New | 494,858 | $50.92M | No quote | No quote |
| 57 | V | VISA INC | - | Sold | 0 | $0 | No quote | No quote |
| 56 | P | PANDORA MEDIA INC | - | Sold | 0 | $0 | No quote | No quote |
| 55 | OCN | OCWEN FINL CORP | - | Sold | 0 | $0 | No quote | No quote |
| 54 | KMI | KINDER MORGAN INC DEL | - | Sold | 0 | $0 | No quote | No quote |
| 53 | GRFS | GRIFOLS S A | - | Sold | 0 | $0 | No quote | No quote |
| 52 | GOOGL | GOOGLE INC | - | Sold | 0 | $0 | No quote | No quote |
| 51 | EQIX | EQUINIX INC | - | Sold | 0 | $0 | No quote | No quote |
| 50 | EBAY | EBAY INC | - | Sold | 0 | $0 | No quote | No quote |
| 49 | CP | CANADIAN PAC RY LTD | - | Sold | 0 | $0 | No quote | No quote |
| 48 | HRB | BLOCK H & R INC | - | Sold | 0 | $0 | No quote | No quote |
| 47 | AMZN | AMAZON COM INC | - | Sold | 0 | $0 | No quote | No quote |
Options positions
Put = right to sell at strike (a bearish bet). Call = right to buy at strike (bullish via leverage). The notional column shows the underlying market value reported to the SEC, not the option premium paid - these don't add to the long-equity % portfolio above.
| 1 | 06742E | BARCLAYS BK PLCIPATH S&P500 VIX | PUT | New | 9,990,000 | $425.08M |
| 2 | UNG | UNITED STATES NATL GAS FUNDUNIT PAR $0.001 | PUT | - | 16,500,000 | $341.39M |
| 3 | CME | CME GROUP INCCOM | CALL | - | 2,000,000 | $156.92M |
| 4 | AXP | AMERICAN EXPRESS COCOM | CALL | - | 1,670,000 | $151.52M |
| 5 | QCOM | QUALCOMM INCCOM | CALL | Reduce -25.0% | 1,722,000 | $127.86M |
| 6 | SHLD | SEARS HLDGS CORPCOM | PUT | - | 2,273,500 | $111.49M |
| 7 | MSFT | MICROSOFT CORPCOM | CALL | New | 1,650,000 | $61.73M |
| 8 | ICE | INTERCONTINENTALEXCHANGE GROCOM | CALL | New | 60,600 | $13.63M |
| 9 | SFUN | SOUFUN HLDGS LTDADR | CALL | New | 45,000 | $3.71M |
| 11 | BB | BLACKBERRY LTDCOM | PUT | Sold | 0 | $0 |
| 10 | VXX | BARCLAYS BK PLCIPATH S&P500 VIX | PUT | Sold | 0 | $0 |