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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Filing period

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