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 24 of 43 rows. Rows without a quote are marked unavailable.


1	SHOP	SHOPIFY INC	6.53%	Reduce -12.4%	1,430,135	$1.94B	$1355.78
2	SNAP	SNAP INC	5.64%	Reduce -1.3%	22,638,657	$1.67B	$73.87
3	DASH	DOORDASH INC	5.18%	-	7,460,157	$1.54B	$205.98
4	BBWI	BATH & BODY WORKS INC	5.16%	New	24,300,268	$1.53B	$63.03
5	NOW	SERVICENOW INC	4.60%	Reduce -11.1%	2,193,941	$1.37B	$622.27
6	MSFT	MICROSOFT CORP	4.46%	Reduce -11.0%	4,694,472	$1.32B	$281.92
7	TWTR	TWITTER INC	4.38%	Add +117.5%	21,533,828	$1.3B	No quote	No quote
8	SQ	SQUARE INC	4.35%	Reduce -5.8%	5,380,864	$1.29B	No quote	No quote
9	MRNA	MODERNA INC	4.30%	Reduce -16.9%	3,316,199	$1.28B	No quote	No quote
10	WDAY	WORKDAY INC	4.19%	Add +45.1%	4,973,868	$1.24B	$249.89
11	MTCH	MATCH GROUP INC NEW	4.11%	Add +0.3%	7,773,867	$1.22B	$156.99
12	AMZN	AMAZON COM INC	4.00%	Reduce -25.5%	361,112	$1.19B	$3285.04
13	UNH	UNITEDHEALTH GROUP INC	3.96%	-	3,005,990	$1.17B	$390.74
14	ADBE	ADOBE SYSTEMS INCORPORATED	3.79%	Reduce -19.1%	1,955,187	$1.13B	$575.72
15	META	FACEBOOK INC	3.52%	Reduce -38.3%	3,074,926	$1.04B	$339.39
16	COUP	COUPA SOFTWARE INC	3.37%	Reduce -2.2%	4,566,251	$1B	No quote	No quote
17	RH	RH	2.90%	Add +26.4%	1,290,620	$860.73M	$666.91
18	FTCH	FARFETCH LTD	2.90%	Add +21.6%	22,945,132	$859.98M	No quote	No quote
19	DXCM	DEXCOM INC	2.66%	Reduce -22.9%	1,441,227	$788.15M	$546.86
20	IBN	ICICI BANK LIMITED	2.53%	Reduce -7.9%	39,750,227	$750.09M	$18.87
21	DDOG	DATADOG INC	2.21%	Reduce -20.3%	4,646,717	$656.81M	$141.35
22	CVNA	CARVANA CO	2.18%	-	2,142,309	$645.99M	$301.54
23	BILI	BILIBILI INC	1.92%	New	8,612,782	$569.91M	No quote	No quote
24	BEKE	KE HLDGS INC	1.86%	Add +131.1%	30,201,786	$551.49M	$18.26
25	STNE	STONECO LTD	1.77%	Add +70.6%	15,093,113	$524.03M	No quote	No quote
26	TDG	TRANSDIGM GROUP INC	1.65%	Add +9.3%	784,342	$489.88M	$624.57
27	VSCO	VICTORIAS SECRET AND CO	1.60%	New	8,609,543	$475.76M	$55.26
28	PVH	PVH CORPORATION	1.14%	Add +21.3%	3,297,609	$338.96M	$102.79
29	ASND	ASCENDIS PHARMA A/S	0.77%	-	1,436,981	$229.04M	$159.39
30	FATE	FATE THERAPEUTICS INC	0.44%	Add +25.7%	2,199,284	$130.35M	No quote	No quote
31	VTEX	VTEX	0.37%	New	5,274,887	$108.5M	No quote	No quote
32	FIGS	FIGS INC	0.31%	Reduce -41.8%	2,485,894	$92.33M	$37.14
33	AMPL	AMPLITUDE INC	0.30%	New	1,627,000	$88.41M	No quote	No quote
34	NTES	NETEASE INC	0.29%	New	1,015,388	$86.71M	$85.40
35	CFLT	CONFLUENT INC	0.28%	Reduce -61.6%	1,394,644	$83.19M	No quote	No quote
36	MQ	MARQETA INC	0.20%	Reduce -85.0%	2,621,520	$57.99M	No quote	No quote
37	ZYME	ZYMEWORKS INC	0.10%	-	976,735	$28.36M	No quote	No quote
38	FMTX	FORMA THERAPEUTICS HLDGS INC	0.06%	-	800,000	$18.55M	No quote	No quote
39	FRSH	FRESHWORKS INC	0.04%	New	275,000	$11.74M	No quote	No quote
43	S	SENTINELONE INC	-	Sold	0	$0	No quote	No quote
42	MA	MASTERCARD INCORPORATED	-	Sold	0	$0	No quote	No quote
41	LB	L BRANDS INC	-	Sold	0	$0	No quote	No quote
40	GPN	GLOBAL PMTS INC	-	Sold	0	$0	No quote	No quote