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
- +36.67%
- 3-year vs S&P 500
- +13.12%
- 5-year vs S&P 500
- -51.79%
- 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.
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Updated 2026-09-19 from SEC 13F data.
Live quotes available for 31 of 61 rows. Rows without a quote are marked unavailable.
| 1 | BIDU | BAIDU INC | 7.14% | Reduce -8.2% | 8,188,393 | $1.79B | $218.23 | No quote |
| 2 | VRX | VALEANT PHARMACEUTICALS INTL | 5.76% | Add +8.9% | 10,985,940 | $1.44B | No quote | No quote |
| 3 | KORS | MICHAEL KORS HLDGS LTD | 4.55% | Add +38.4% | 15,954,399 | $1.14B | No quote | No quote |
| 4 | MA | MASTERCARD INC | 4.45% | Add +28.2% | 15,082,787 | $1.11B | $73.92 | No quote |
| 5 | MSFT | MICROSOFT CORP | 4.14% | Reduce -15.2% | 22,335,690 | $1.04B | $46.36 | No quote |
| 6 | SBAC | SBA COMMUNICATIONS CORP | 3.84% | Reduce -0.3% | 8,670,738 | $961.59M | $110.90 | No quote |
| 7 | FLT | FLEETCOR TECHNOLOGIES INC | 3.74% | Add +9.1% | 6,589,236 | $936.46M | No quote | No quote |
| 8 | MHP | MCGRAW HILL FINL INC | 3.66% | Reduce -13.4% | 10,833,547 | $914.89M | No quote | No quote |
| 9 | PCLN | PRICELINE GRP INC | 3.38% | Add +5.4% | 729,265 | $844.91M | No quote | No quote |
| 10 | CTSH | COGNIZANT TECHNOLOGY SOLUTIO | 3.23% | Reduce -38.8% | 18,068,688 | $808.94M | $44.77 | No quote |
| 11 | GPS | GAP INC DEL | 3.21% | - | 19,265,265 | $803.17M | No quote | No quote |
| 12 | ADBE | ADOBE SYS INC | 3.17% | Reduce -3.5% | 11,467,010 | $793.4M | $69.19 | No quote |
| 13 | CMCSA | COMCAST CORP NEW | 2.96% | Add +13.3% | 13,772,459 | $740.68M | $53.78 | No quote |
| 14 | CP | CANADIAN PAC RY LTD | 2.91% | Reduce -0.1% | 3,507,664 | $727.74M | $207.47 | No quote |
| 15 | META | FACEBOOK INC | 2.73% | New | 8,638,513 | $682.79M | $79.04 | No quote |
| 16 | TIF | TIFFANY & CO NEW | 2.64% | Add +61.6% | 6,852,021 | $659.92M | No quote | No quote |
| 17 | CCI | CROWN CASTLE INTL CORP | 2.52% | Reduce -6.9% | 7,845,871 | $631.83M | $80.53 | No quote |
| 18 | ULTA | ULTA SALON COSMETCS & FRAG I | 2.46% | - | 5,202,611 | $614.79M | $118.17 | No quote |
| 19 | ACT | ACTAVIS PLC | 2.39% | - | 2,478,628 | $598.04M | No quote | No quote |
| 20 | DG | DOLLAR GEN CORP NEW | 2.27% | Add +30.9% | 9,305,845 | $568.68M | $61.11 | No quote |
| 21 | EQIX | EQUINIX INC | 2.25% | Add +15.2% | 2,649,060 | $562.87M | $212.48 | No quote |
| 22 | LNG | CHENIERE ENERGY INC | 2.21% | Add +1116.9% | 6,906,909 | $552.76M | No quote | No quote |
| 23 | WYNN | WYNN RESORTS LTD | 2.10% | Add +35.4% | 2,804,989 | $524.76M | $187.08 | No quote |
| 24 | HOUS | REALOGY HLDGS CORP | 2.03% | - | 13,652,898 | $507.89M | No quote | No quote |
| 25 | CHTR | CHARTER COMMUNICATIONS INC D | 1.88% | New | 3,105,814 | $470.13M | $151.37 | No quote |
| 26 | MHK | MOHAWK INDS INC | 1.66% | New | 3,090,081 | $416.61M | $134.82 | No quote |
| 27 | LPLA | LPL FINL HLDGS INC | 1.57% | - | 8,518,366 | $392.27M | $46.05 | No quote |
| 28 | TDG | TRANSDIGM GROUP INC | 1.32% | Add +82.4% | 1,786,836 | $329.37M | $184.33 | No quote |
| 29 | UAA | UNDER ARMOUR INC | 1.25% | Reduce -4.8% | 4,518,470 | $312.23M | $69.10 | No quote |
| 30 | ABBV | ABBVIE INC | 1.21% | New | 5,247,201 | $303.08M | $57.76 | No quote |
| 31 | SAVE | SPIRIT AIRLS INC | 1.18% | Add +21.8% | 4,262,432 | $294.71M | No quote | No quote |
| 32 | WSM | WILLIAMS SONOMA INC | 1.17% | Add +196.0% | 4,390,577 | $292.28M | No quote | No quote |
| 33 | WDAY | WORKDAY INC | 1.16% | - | 3,516,060 | $290.08M | $82.50 | No quote |
| 34 | JAZZ | JAZZ PHARMACEUTICALS PLC | 1.15% | Reduce -14.3% | 1,788,607 | $287.18M | $160.56 | No quote |
| 35 | HUM | HUMANA INC | 1.13% | New | 2,174,122 | $283.27M | $130.29 | No quote |
| 36 | SWI | SOLARWINDS INC | 1.09% | - | 6,516,396 | $274.01M | No quote | No quote |
| 37 | ICE | INTERCONTINENTAL EXCHANGE IN | 1.02% | Reduce -61.4% | 1,314,968 | $256.49M | $195.05 | No quote |
| 38 | TRIP | TRIPADVISOR INC | 1.01% | Add +153.3% | 2,771,438 | $253.37M | $91.42 | No quote |
| 39 | ADSK | AUTODESK INC | 0.97% | New | 4,401,445 | $242.52M | $55.10 | No quote |
| 40 | LBTYK | LIBERTY GLOBAL PLC | 0.73% | Reduce -71.8% | 4,460,630 | $182.95M | $41.02 | No quote |
| 41 | TWX | TIME WARNER INC | 0.52% | New | 1,716,105 | $129.07M | No quote | No quote |
| 42 | ANET | ARISTA NETWORKS INC | 0.25% | Add +36.5% | 722,282 | $63.8M | $88.33 | No quote |
| 53 | WMB | WILLIAMS COS INC DEL | - | Sold | 0 | $0 | No quote | No quote |
| 52 | FOXA | TWENTY FIRST CENTY FOX INC | - | Sold | 0 | $0 | No quote | No quote |
| 51 | SFUN | SOUFUN HLDGS LTD | - | Sold | 0 | $0 | No quote | No quote |
| 50 | OII | OCEANEERING INTL INC | - | Sold | 0 | $0 | No quote | No quote |
| 49 | LL | LUMBER LIQUIDATORS HLDGS INC | - | Sold | 0 | $0 | No quote | No quote |
| 48 | LBTYA | LIBERTY GLOBAL PLC | - | Sold | 0 | $0 | No quote | No quote |
| 47 | JD | JD COM INC | - | Sold | 0 | $0 | No quote | No quote |
| 46 | IBN | ICICI BK LTD | - | Sold | 0 | $0 | No quote | No quote |
| 45 | CTRP | CTRIP COM INTL LTD | - | Sold | 0 | $0 | No quote | No quote |
| 44 | AN | AUTONATION INC | - | Sold | 0 | $0 | No quote | No quote |
| 43 | AAL | AMERICAN AIRLS GROUP 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 | - | 6,300,000 | $196.43M |
| 2 | CMCSA | COMCAST CORP NEWCL A | CALL | - | 1,830,000 | $98.42M |
| 3 | INTC | INTEL CORPCOM | PUT | - | 2,320,000 | $80.78M |
| 4 | GPS | GAP INC DELCOM | CALL | - | 1,741,200 | $72.59M |
| 5 | SHLD | SEARS HLDGS CORPCOM | PUT | Add +19.3% | 2,987,500 | $70.11M |
| 6 | ICE | INTERCONTINENTAL EXCHANGE INCOM | CALL | New | 240,000 | $46.81M |
| 8 | MSFT | MICROSOFT CORPCOM | CALL | Sold | 0 | $0 |
| 7 | BIDU | BAIDU INCSPON ADR REP A | CALL | Sold | 0 | $0 |