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Focused investors/Stephen Mandel

Stephen Mandel - Lone Pine Capital

As of Q2 2026, Stephen Mandel reported 34 long-equity positions worth $16.36B in aggregate.

Copy-investor backtest

Full auditCompare with peers
Latest quarter
+4.81%
1-year
+0.17%
3-year
+87.28%
5-year
+14.37%
3-year vs S&P 500
+14.05%
5-year vs S&P 500
-59.31%
5-year top 5
+11.49%

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 2026-06-06 from SEC 13F data.

Live quotes available for 28 of 51 rows. Rows without a quote are marked unavailable.

1BABAALIBABA GROUP HLDG LTD7.31%Add +1.6%6,336,587$1.23B$194.4852w: $169.95 - $231.14; reported $194.48
2UNHUNITEDHEALTH GROUP INC6.83%Add +8.7%4,613,971$1.15B$249.3852w: $187.72 - $306.71; reported $249.38
3AMZNAMAZON COM INC6.75%Add +13.1%582,971$1.14B$1949.7252w: $81.30 - $109.30; reported $1949.72
4MSFTMICROSOFT CORP5.54%Add +16.9%5,923,926$934.26M$157.7152w: $132.52 - $190.70; reported $157.71
5NFLXNETFLIX INC5.37%Reduce -3.3%2,411,338$905.46M$375.5052w: $29.02 - $39.35; reported $375.50
6ADBEADOBE INC5.01%Reduce -6.8%2,653,450$844.43M$318.2452w: $255.13 - $386.75; reported $318.24
7GPNGLOBAL PMTS INC4.24%Add +52.7%4,954,572$714.6M$144.2352w: $105.54 - $209.62; reported $144.23
8SHOPSHOPIFY INC4.13%Reduce -7.9%1,670,133$696.33M$416.9352w: $30.53 - $59.39; reported $416.93
9HUMHUMANA INC4.03%Add +46.9%2,164,071$679.56M$314.0252w: $208.25 - $385.00; reported $314.02
10ADSKAUTODESK INC3.73%Add +22.4%4,023,409$628.05M$156.1052w: $125.38 - $211.58; reported $156.10
11METAFACEBOOK INC3.50%Add +3.1%3,532,011$589.14M$166.8052w: $137.10 - $224.20; reported $166.80
12MAMASTERCARD INC3.31%Reduce -3.1%2,311,471$558.36M$241.5652w: $199.99 - $347.25; reported $241.56
13VVISA INC3.18%New3,329,975$536.53M$161.1252w: $133.93 - $214.17; reported $161.12
14PYPLPAYPAL HLDGS INC2.99%Add +56.5%5,265,480$504.12M$95.7452w: $82.07 - $124.45; reported $95.74
15CPCANADIAN PAC RY LTD2.97%Add +21.9%2,279,058$500.46M$219.5952w: $34.65 - $55.03; reported $219.59
16MTCHMATCH GROUP INC2.68%Add +125.4%6,845,734$452.09M$66.0452w: $44.74 - $92.51; reported $66.04
17VXXBBARCLAYS BK PLC2.47%New9,000,000$416.25MNo quoteNo quote
18NOWSERVICENOW INC2.33%Reduce -11.3%1,368,688$392.24M$286.5852w: $47.79 - $72.59; reported $286.58
19EFXEQUIFAX INC2.25%Reduce -8.0%3,171,575$378.85M$119.4552w: $103.01 - $164.77; reported $119.45
20LKNCYLUCKIN COFFEE INC2.18%Add +122.9%13,522,973$367.69MNo quoteNo quote
21SQSQUARE INC2.08%Reduce -23.9%6,698,049$350.84MNo quoteNo quote
22ARNCARCONIC INC1.97%New20,660,173$331.8MNo quoteNo quote
23LBL BRANDS INC1.80%New26,265,094$303.62MNo quoteNo quote
24COUPCOUPA SOFTWARE INC1.76%Reduce -9.1%2,124,340$296.83MNo quoteNo quote
25CVNACARVANA CO1.67%Add +408.5%5,100,175$280.97M$55.0952w: $4.43 - $23.05; reported $55.09
26TDGTRANSDIGM GROUP INC1.47%Reduce -38.1%775,953$248.45M$320.1952w: $200.06 - $673.51; reported $320.19
27HLTHILTON WORLDWIDE HLDGS INC1.20%New2,952,652$201.49M$68.2452w: $44.30 - $115.48; reported $68.24
28TEAMATLASSIAN CORP PLC1.13%Reduce -50.4%1,388,586$190.6MNo quoteNo quote
29CDAYCERIDIAN HCM HLDG INC0.96%New3,244,680$162.46MNo quoteNo quote
30UAAUNDER ARMOUR INC0.95%Add +94.1%17,431,613$160.55M$9.2152w: $7.61 - $21.96; reported $9.21
31IACIAC INTERACTIVECORP0.86%Add +104.2%812,017$145.54M$179.23No quote
32LYVLIVE NATION ENTERTAINMENT IN0.82%New3,046,095$138.48M$45.4652w: $21.70 - $76.60; reported $45.46
33HUBSHUBSPOT INC0.61%Add +244.1%776,490$103.42MNo quoteNo quote
34CDNSCADENCE DESIGN SYSTEM INC0.51%New1,288,594$85.1M$66.0452w: $51.39 - $80.40; reported $66.04
35UAUNDER ARMOUR INC0.47%New9,890,481$79.72M$8.0652w: $6.79 - $19.43; reported $8.06
36PLANANAPLAN INC0.40%New2,200,000$66.57MNo quoteNo quote
37CHWYCHEWY INC0.29%Reduce -74.4%1,299,749$48.73M$37.4952w: $20.62 - $39.63; reported $37.49
38MDLAMEDALLIA INC0.22%Add +151.3%1,853,183$37.14MNo quoteNo quote
39SESEA LTD0.01%Reduce -99.6%27,000$1.2M$44.3052w: $35.61 - $52.77; reported $44.30
51XPXP INC-Sold0$0No quoteNo quote
50UNPUNION PACIFIC CORP-Sold0$0No quoteNo quote
49UBERUBER TECHNOLOGIES INC-Sold0$0No quoteNo quote
48CRMSALESFORCE COM INC-Sold0$0No quoteNo quote
47MELIMERCADOLIBRE INC-Sold0$0No quoteNo quote
46IQVIQVIA HLDGS INC-Sold0$0No quoteNo quote
45ILMNILLUMINA INC-Sold0$0No quoteNo quote
44HLFHERBALIFE NUTRITION LTD-Sold0$0No quoteNo quote
43DPZDOMINOS PIZZA INC-Sold0$0No quoteNo quote
42DXCMDEXCOM INC-Sold0$0No quoteNo quote
41CSXCSX CORP-Sold0$0No quoteNo quote
40MOALTRIA GROUP INC-Sold0$0No quoteNo quote