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
- +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 27 of 47 rows. Rows without a quote are marked unavailable.
| 1 | SHOP | SHOPIFY INC | 7.39% | Add +4.2% | 1,795,290 | $2.03B | $1131.95 | |
| 2 | COUP | COUPA SOFTWARE INC | 5.20% | Reduce -2.5% | 4,220,706 | $1.43B | No quote | No quote |
| 3 | MSFT | MICROSOFT CORP | 5.10% | Reduce -2.0% | 6,312,495 | $1.4B | $222.42 | |
| 4 | GPN | GLOBAL PMTS INC | 4.96% | Reduce -1.0% | 6,331,020 | $1.36B | $215.42 | |
| 5 | NFLX | NETFLIX INC | 4.82% | Add +8.9% | 2,452,120 | $1.33B | $540.73 | |
| 6 | UNH | UNITEDHEALTH GROUP INC | 4.05% | Reduce -19.4% | 3,180,020 | $1.12B | $350.68 | |
| 7 | ADBE | ADOBE SYSTEMS INCORPORATED | 3.67% | Add +19.6% | 2,020,738 | $1.01B | $500.12 | |
| 8 | MELI | MERCADOLIBRE INC | 3.64% | Add +179.5% | 597,111 | $1B | $1675.22 | |
| 9 | SNAP | SNAP INC | 3.55% | New | 19,510,587 | $976.9M | $50.07 | |
| 10 | LB | L BRANDS INC | 3.55% | - | 26,265,094 | $976.8M | No quote | No quote |
| 11 | META | FACEBOOK INC | 3.55% | Reduce -38.9% | 3,575,546 | $976.7M | $273.16 | |
| 12 | MA | MASTERCARD INCORPORATED | 3.53% | Add +54.2% | 2,719,397 | $970.66M | $356.94 | |
| 13 | SQ | SQUARE INC | 3.32% | Reduce -21.8% | 4,199,424 | $913.96M | No quote | No quote |
| 14 | DOCU | DOCUSIGN INC | 3.28% | Reduce -1.9% | 4,056,072 | $901.67M | $222.30 | |
| 15 | DXCM | DEXCOM INC | 3.05% | Add +389.7% | 2,267,809 | $838.45M | $369.72 | |
| 16 | AMZN | AMAZON COM INC | 3.04% | Reduce -23.8% | 257,126 | $837.44M | $3256.93 | |
| 17 | TEAM | ATLASSIAN CORP PLC | 2.91% | Add +4.1% | 3,423,119 | $800.57M | No quote | No quote |
| 18 | MTCH | MATCH GROUP INC NEW | 2.89% | Reduce -32.8% | 5,267,083 | $796.33M | $151.19 | |
| 19 | DDOG | DATADOG INC | 2.54% | Add +8.3% | 7,090,101 | $697.95M | $98.44 | |
| 20 | ADSK | AUTODESK INC | 2.46% | Reduce -24.4% | 2,212,480 | $675.56M | $305.34 | |
| 21 | NOW | SERVICENOW INC | 2.42% | Reduce -31.6% | 1,210,586 | $666.34M | $550.43 | |
| 22 | HUM | HUMANA INC | 2.25% | Reduce -30.6% | 1,508,296 | $618.81M | $410.27 | |
| 23 | CVNA | CARVANA CO | 2.13% | New | 2,448,265 | $586.46M | $239.54 | |
| 24 | STNE | STONECO LTD | 1.94% | Reduce -23.2% | 6,368,457 | $534.44M | No quote | No quote |
| 25 | BILI | BILIBILI INC | 1.87% | New | 6,004,127 | $514.67M | No quote | No quote |
| 26 | FTCH | FARFETCH LTD | 1.87% | New | 8,064,560 | $514.6M | No quote | No quote |
| 27 | NUAN | NUANCE COMMUNICATIONS INC | 1.44% | Add +6.2% | 9,009,792 | $397.24M | No quote | No quote |
| 28 | FIS | FIDELITY NATL INFORMATION SV | 1.44% | New | 2,799,907 | $396.08M | $141.46 | |
| 29 | BILL | BILL COM HLDGS INC | 1.37% | Add +24.9% | 2,768,707 | $377.93M | $136.50 | |
| 30 | DASH | DOORDASH INC | 1.17% | New | 2,256,931 | $322.18M | $142.75 | |
| 31 | MDB | MONGODB INC | 1.15% | New | 879,832 | $315.9M | $359.04 | |
| 32 | BPMC | BLUEPRINT MEDICINES CORP | 1.10% | New | 2,709,138 | $303.83M | No quote | No quote |
| 33 | HWM | HOWMET AEROSPACE INC | 0.78% | Reduce -4.6% | 7,527,593 | $214.84M | $28.54 | |
| 34 | ARGX | ARGENX SE | 0.57% | New | 536,259 | $157.71M | No quote | No quote |
| 35 | FOLD | AMICUS THERAPEUTICS INC | 0.56% | New | 6,678,788 | $154.21M | No quote | No quote |
| 36 | ASND | ASCENDIS PHARMA A/S | 0.54% | New | 894,533 | $149.19M | $166.78 | |
| 37 | SNOW | SNOWFLAKE INC | 0.31% | Reduce -56.9% | 302,060 | $85M | $281.40 | |
| 38 | FATE | FATE THERAPEUTICS INC | 0.29% | New | 883,666 | $80.35M | No quote | No quote |
| 39 | ZYME | ZYMEWORKS INC | 0.17% | New | 976,735 | $46.16M | No quote | No quote |
| 40 | FMTX | FORMA THERAPEUTICS HLDGS INC | 0.10% | New | 800,000 | $27.92M | No quote | No quote |
| 41 | XP | XP INC | 0.01% | New | 80,569 | $3.2M | $39.67 | |
| 47 | TDG | TRANSDIGM GROUP INC | - | Sold | 0 | $0 | No quote | No quote |
| 46 | PYPL | PAYPAL HLDGS INC | - | Sold | 0 | $0 | No quote | No quote |
| 45 | BEKE | KE HLDGS INC | - | Sold | 0 | $0 | No quote | No quote |
| 44 | PODD | INSULET CORP | - | Sold | 0 | $0 | No quote | No quote |
| 43 | COF | CAPITAL ONE FINL CORP | - | Sold | 0 | $0 | No quote | No quote |
| 42 | BKNG | BOOKING HOLDINGS INC | - | Sold | 0 | $0 | No quote | No quote |