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 28 of 68 rows. Rows without a quote are marked unavailable.
| 1 | CTSH | COGNIZANT TECHNOLOGY SOLUTIO | 6.53% | Add +167.4% | 28,722,348 | $1.45B | $50.60 | No quote |
| 2 | BIDU | BAIDU INC | 5.35% | Add +44.9% | 7,813,332 | $1.19B | $152.27 | No quote |
| 3 | VRX | VALEANT PHARMACEUTICALS INTL | 5.22% | Add +13.7% | 8,816,702 | $1.16B | No quote | No quote |
| 4 | MSFT | MICROSOFT CORP | 5.17% | Add +10.2% | 28,064,888 | $1.15B | $40.99 | No quote |
| 5 | LBTYK | LIBERTY GLOBAL PLC | 3.89% | Add +310.1% | 21,260,739 | $865.53M | $40.71 | No quote |
| 6 | KORS | MICHAEL KORS HLDGS LTD | 3.79% | Add +48.0% | 9,043,926 | $843.53M | No quote | No quote |
| 7 | MHP | MCGRAW HILL FINL INC | 3.77% | Add +102.8% | 10,998,735 | $839.2M | No quote | No quote |
| 8 | SBAC | SBA COMMUNICATIONS CORP | 3.66% | Add +63.9% | 8,943,844 | $813.53M | $90.96 | No quote |
| 9 | GPS | GAP INC DEL | 3.59% | Reduce -3.1% | 19,924,198 | $798.16M | No quote | No quote |
| 10 | CCI | CROWN CASTLE INTL CORP | 3.00% | Reduce -12.7% | 9,054,737 | $668.06M | $73.78 | No quote |
| 11 | ICE | INTERCONTINENTALEXCHANGE GRO | 2.95% | Add +50.9% | 3,318,131 | $656.43M | $197.83 | No quote |
| 12 | MON | MONSANTO CO NEW | 2.95% | Reduce -1.1% | 5,767,733 | $656.2M | No quote | No quote |
| 13 | FOXA | TWENTY FIRST CENTY FOX INC | 2.87% | Reduce -2.0% | 20,006,725 | $639.62M | $31.97 | No quote |
| 14 | FLT | FLEETCOR TECHNOLOGIES INC | 2.82% | Add +24.9% | 5,442,543 | $626.44M | No quote | No quote |
| 15 | DG | DOLLAR GEN CORP NEW | 2.58% | Reduce -45.3% | 10,340,612 | $573.7M | $55.48 | No quote |
| 16 | HOUS | REALOGY HLDGS CORP | 2.52% | Add +3.8% | 12,900,198 | $560.51M | No quote | No quote |
| 17 | MA | MASTERCARD INC | 2.45% | Add +667.4% | 7,294,819 | $544.92M | $74.70 | No quote |
| 18 | QCOM | QUALCOMM INC | 2.31% | Reduce -40.0% | 6,530,923 | $515.03M | $78.86 | No quote |
| 19 | ULTA | ULTA SALON COSMETCS & FRAG I | 2.28% | Add +8.2% | 5,202,611 | $506.94M | $97.44 | No quote |
| 20 | ACT | ACTAVIS PLC | 2.20% | New | 2,378,308 | $489.58M | No quote | No quote |
| 21 | LPLA | LPL FINL HLDGS INC | 2.01% | New | 8,518,366 | $447.56M | $52.54 | No quote |
| 22 | ADBE | ADOBE SYS INC | 1.95% | New | 6,600,334 | $433.91M | $65.74 | No quote |
| 23 | EQIX | EQUINIX INC | 1.87% | New | 2,254,694 | $416.76M | $184.84 | No quote |
| 24 | WYN | WYNDHAM WORLDWIDE CORP | 1.61% | Reduce -22.3% | 4,878,718 | $357.27M | No quote | No quote |
| 25 | PCLN | PRICELINE COM INC | 1.55% | Reduce -67.2% | 290,072 | $345.73M | No quote | No quote |
| 26 | JAZZ | JAZZ PHARMACEUTICALS PLC | 1.46% | New | 2,344,486 | $325.13M | $138.68 | No quote |
| 27 | SFUN | SOUFUN HLDGS LTD | 1.36% | New | 4,426,433 | $302.86M | No quote | No quote |
| 28 | BEAV | B/E AEROSPACE INC | 1.33% | Reduce -22.9% | 3,404,644 | $295.49M | No quote | No quote |
| 29 | LBTYA | LIBERTY GLOBAL PLC | 1.31% | Add +56.6% | 6,982,402 | $290.47M | $41.60 | No quote |
| 30 | ENDPQ | ENDO INTL PLC | 1.29% | New | 4,178,703 | $286.87M | No quote | No quote |
| 31 | SWI | SOLARWINDS INC | 1.25% | Reduce -2.7% | 6,516,396 | $277.79M | No quote | No quote |
| 32 | OII | OCEANEERING INTL INC | 1.23% | Add +21.9% | 3,809,894 | $273.78M | No quote | No quote |
| 33 | WDAY | WORKDAY INC | 1.23% | Reduce -3.2% | 2,986,060 | $273.02M | $91.43 | No quote |
| 34 | WYNN | WYNN RESORTS LTD | 1.18% | New | 1,184,878 | $263.22M | $222.15 | No quote |
| 35 | DVA | DAVITA HEALTHCARE PARTNERS I | 1.13% | Reduce -56.8% | 3,655,739 | $251.7M | $68.85 | No quote |
| 36 | IBN | ICICI BK LTD | 1.13% | New | 5,731,312 | $251.03M | $43.80 | No quote |
| 37 | DSW | DSW INC | 1.12% | Add +1.3% | 6,953,238 | $249.34M | No quote | No quote |
| 38 | LL | LUMBER LIQUIDATORS HLDGS INC | 1.10% | Add +429.4% | 2,619,839 | $245.74M | No quote | No quote |
| 39 | TIF | TIFFANY & CO NEW | 1.02% | New | 2,647,047 | $228.04M | No quote | No quote |
| 40 | AN | AUTONATION INC | 0.95% | New | 3,991,755 | $212.48M | $53.23 | No quote |
| 41 | TDG | TRANSDIGM GROUP INC | 0.86% | Reduce -62.7% | 1,033,918 | $191.48M | $185.20 | No quote |
| 42 | ASML | ASML HOLDING N V | 0.57% | Add +12.8% | 1,356,218 | $126.62M | $93.36 | No quote |
| 43 | META | FACEBOOK INC | 0.54% | Reduce -33.3% | 2,000,000 | $120.48M | $60.24 | No quote |
| 44 | COH | COACH INC | 0.35% | Reduce -75.8% | 1,569,635 | $77.95M | No quote | No quote |
| 45 | SEAS | SEAWORLD ENTMT INC | 0.29% | Reduce -30.9% | 2,114,123 | $63.91M | No quote | No quote |
| 46 | CTRP | CTRIP COM INTL LTD | 0.26% | New | 1,158,913 | $58.43M | No quote | No quote |
| 47 | YNDX | YANDEX N V | 0.13% | New | 987,950 | $29.83M | No quote | No quote |
| 59 | VRSN | VERISIGN INC | - | Sold | 0 | $0 | No quote | No quote |
| 58 | TW | TOWERS WATSON & CO | - | Sold | 0 | $0 | No quote | No quote |
| 57 | SEMG | SEMGROUP CORP | - | Sold | 0 | $0 | No quote | No quote |
| 56 | MJN | MEAD JOHNSON NUTRITION CO | - | Sold | 0 | $0 | No quote | No quote |
| 55 | LOW | LOWES COS INC | - | Sold | 0 | $0 | No quote | No quote |
| 54 | LMCAD | LIBERTY MEDIA CORP DELAWARE | - | Sold | 0 | $0 | No quote | No quote |
| 53 | KMIWS | KINDER MORGAN INC DEL | - | Sold | 0 | $0 | No quote | No quote |
| 52 | ENDP | ENDO HEALTH SOLUTIONS INC | - | Sold | 0 | $0 | No quote | No quote |
| 51 | DLTR | DOLLAR TREE INC | - | Sold | 0 | $0 | No quote | No quote |
| 50 | CME | CME GROUP INC | - | Sold | 0 | $0 | No quote | No quote |
| 49 | CHTR | CHARTER COMMUNICATIONS INC D | - | Sold | 0 | $0 | No quote | No quote |
| 48 | AXP | AMERICAN EXPRESS CO | - | 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 | - | 9,990,000 | $421.08M |
| 2 | QCOM | QUALCOMM INCCOM | CALL | - | 1,722,000 | $135.8M |
| 3 | SHLD | SEARS HLDGS CORPCOM | PUT | Add +13.7% | 2,584,400 | $100.01M |
| 4 | MSFT | MICROSOFT CORPCOM | CALL | Add +22.5% | 2,020,800 | $82.83M |
| 5 | ICE | INTERCONTINENTALEXCHANGE GROCOM | CALL | - | 60,600 | $11.99M |
| 9 | UNG | UNITED STATES NATL GAS FUNDUNIT PAR $0.001 | PUT | Sold | 0 | $0 |
| 8 | SFUN | SOUFUN HLDGS LTDADR | CALL | Sold | 0 | $0 |
| 7 | CME | CME GROUP INCCOM | CALL | Sold | 0 | $0 |
| 6 | AXP | AMERICAN EXPRESS COCOM | CALL | Sold | 0 | $0 |