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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Live quotes available for 24 of 36 rows. Rows without a quote are marked unavailable.
| 1 | META | META PLATFORMS INC | 8.88% | Reduce -13.7% | 1,758,062 | $1.01B | $576.36 | |
| 2 | INTU | INTUIT | 7.55% | Add +21.4% | 1,403,802 | $861.92M | $613.99 | |
| 3 | AMZN | AMAZON COM INC | 7.26% | Add +14.9% | 4,352,740 | $828.15M | $190.26 | |
| 4 | MSFT | MICROSOFT CORP | 6.45% | Add +19.6% | 1,960,328 | $735.89M | $375.39 | |
| 5 | SBUX | STARBUCKS CORP | 5.68% | Add +2.0% | 6,607,888 | $648.17M | $98.09 | |
| 6 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | 5.62% | Add +2.8% | 3,865,381 | $641.65M | $166.00 | |
| 7 | LPLA | LPL FINL HLDGS INC | 5.06% | Reduce -8.3% | 1,764,015 | $577.08M | $327.14 | |
| 8 | COF | CAPITAL ONE FINL CORP | 4.99% | Reduce -1.8% | 3,176,143 | $569.48M | $179.30 | |
| 9 | KKR | KKR & CO INC | 4.83% | Add +17.7% | 4,763,771 | $550.74M | $115.61 | |
| 10 | VST | VISTRA CORP | 4.74% | Reduce -14.0% | 4,604,788 | $540.79M | $117.44 | |
| 11 | FLUT | FLUTTER ENTMT PLC | 4.31% | Add +16.1% | 2,219,896 | $491.82M | $221.55 | |
| 12 | CVNA | CARVANA CO | 4.24% | New | 2,314,168 | $483.85M | $209.08 | |
| 13 | PM | PHILIP MORRIS INTL INC | 4.18% | Reduce -53.5% | 3,008,542 | $477.55M | $158.73 | |
| 14 | CRM | SALESFORCE INC | 4.07% | Add +10.6% | 1,731,680 | $464.71M | $268.36 | |
| 15 | LLY | ELI LILLY & CO | 3.99% | Reduce -29.5% | 551,827 | $455.76M | $825.91 | |
| 16 | APP | APPLOVIN CORP | 3.70% | Add +46.9% | 1,593,928 | $422.34M | $264.97 | |
| 17 | TOL | TOLL BROTHERS INC | 3.52% | New | 3,800,580 | $401.3M | $105.59 | |
| 18 | ASML | ASML HOLDING N V | 3.38% | Add +31.8% | 582,427 | $385.93M | $662.63 | |
| 19 | CDNS | CADENCE DESIGN SYSTEM INC | 2.71% | New | 1,218,389 | $309.87M | $254.33 | |
| 20 | ARES | ARES MANAGEMENT CORPORATION | 2.06% | Reduce -4.3% | 1,604,441 | $235.23M | $146.61 | |
| 21 | TLN | TALEN ENERGY CORP | 1.91% | - | 1,089,380 | $217.52M | $199.67 | |
| 22 | WING | WINGSTOP INC | 0.89% | New | 449,056 | $101.3M | $225.58 | |
| 34 | WDAY | WORKDAY INC | - | Sold | 0 | $0 | No quote | No quote |
| 33 | WULF | TERAWULF INC | - | Sold | 0 | $0 | No quote | No quote |
| 32 | SPOT | SPOTIFY TECHNOLOGY S A | - | Sold | 0 | $0 | No quote | No quote |
| 31 | PTC | PTC INC | - | Sold | 0 | $0 | No quote | No quote |
| 30 | LEN | LENNAR CORP | - | Sold | 0 | $0 | No quote | No quote |
| 29 | IREN | IREN LIMITED | - | Sold | 0 | $0 | No quote | No quote |
| 28 | HUT | HUT 8 CORP | - | Sold | 0 | $0 | No quote | No quote |
| 27 | HWM | HOWMET AEROSPACE INC | - | Sold | 0 | $0 | No quote | No quote |
| 26 | CEG | CONSTELLATION ENERGY CORP | - | Sold | 0 | $0 | No quote | No quote |
| 25 | CIFR | CIPHER MINING INC | - | Sold | 0 | $0 | No quote | No quote |
| 24 | SQ | BLOCK INC | - | Sold | 0 | $0 | No quote | No quote |
| 23 | BTDR | BITDEER TECHNOLOGIES GROUP | - | 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.