What did Stephen Mandel actually do?

A source-backed history of material decisions from Lone Pine Capital. We preserve the sequence and observed outcomes instead of compressing judgment into a guru grade.

Material decisions: 39
Stocks observed: 14
Outcomes observed: 39

Each outcome preserves the stock’s post-disclosure excess return over the fixed observation window. The evidence stays decision-level; it is not rolled into a manager score.

Observed decisions and outcomes

Q2 2026
filed Aug 14, 2026
45d lag
APPTRIM-28.9%
Stephen Mandel · 4.6% of reported portfolio
Original SEC filing ↗
-13.9% vs SPY
34 sessions after disclosure
direction supported so far
Q2 2026
filed Aug 14, 2026
45d lag
TSMTRIM-92.7%
Stephen Mandel · 3.7% of reported portfolio
Original SEC filing ↗
+10.1% vs SPY
34 sessions after disclosure
direction not supported so far
Q2 2026
filed Aug 14, 2026
45d lag
COFEXITEXIT
Stephen Mandel · 3.3% of reported portfolio
Original SEC filing ↗
-11.9% vs SPY
34 sessions after disclosure
direction supported so far
Q1 2026
filed May 15, 2026
45d lag
TSMTRIM-54.5%
Stephen Mandel · 6.8% of reported portfolio
Original SEC filing ↗
+4.2% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
APPADD+87.7%
Stephen Mandel · 4.6% of reported portfolio
Original SEC filing ↗
-41.5% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
AVGOEXITEXIT
Stephen Mandel · 4.4% of reported portfolio
Original SEC filing ↗
-11.4% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2026
filed May 15, 2026
45d lag
MSFTEXITEXIT
Stephen Mandel · 4.4% of reported portfolio
Original SEC filing ↗
+8.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
AMZNEXITEXIT
Stephen Mandel · 4.1% of reported portfolio
Original SEC filing ↗
-6.2% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2026
filed May 15, 2026
45d lag
PMEXITEXIT
Stephen Mandel · 3.1% of reported portfolio
Original SEC filing ↗
-7.7% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2025
filed Feb 17, 2026
48d lag
METAEXITEXIT
Stephen Mandel · 7.1% of reported portfolio
Original SEC filing ↗
-12.8% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2025
filed Feb 17, 2026
48d lag
APPTRIM-29.6%
Stephen Mandel · 5.8% of reported portfolio
Original SEC filing ↗
+13.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2025
filed Feb 17, 2026
48d lag
PMTRIM-42.7%
Stephen Mandel · 5.4% of reported portfolio
Original SEC filing ↗
-2.1% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2025
filed Feb 17, 2026
48d lag
FLUTEXITEXIT
Stephen Mandel · 3.2% of reported portfolio
Original SEC filing ↗
-30.8% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Nov 14, 2025
45d lag
METATRIM-20.6%
Stephen Mandel · 8.9% of reported portfolio
Original SEC filing ↗
+3.5% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2025
filed Nov 14, 2025
45d lag
AMZNTRIM-44.1%
Stephen Mandel · 8.0% of reported portfolio
Original SEC filing ↗
-15.5% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Nov 14, 2025
45d lag
MSFTTRIM-34.8%
Stephen Mandel · 6.7% of reported portfolio
Original SEC filing ↗
-24.5% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Nov 14, 2025
45d lag
PMADD+67.3%
Stephen Mandel · 5.4% of reported portfolio
Original SEC filing ↗
+17.3% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Nov 14, 2025
45d lag
INTUEXITEXIT
Stephen Mandel · 4.4% of reported portfolio
Original SEC filing ↗
-43.0% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Nov 14, 2025
45d lag
UNHEXITEXIT
Stephen Mandel · 3.8% of reported portfolio
Original SEC filing ↗
-12.9% vs SPY
63 sessions after disclosure
direction supported so far
Q2 2025
filed Aug 14, 2025
45d lag
INTUTRIM-45.0%
Stephen Mandel · 7.6% of reported portfolio
Original SEC filing ↗
-14.3% vs SPY
63 sessions after disclosure
direction supported so far
Q2 2025
filed Aug 14, 2025
45d lag
UNHNEWNEW
Stephen Mandel · 3.8% of reported portfolio
Original SEC filing ↗
+5.7% vs SPY
63 sessions after disclosure
direction supported so far
Q2 2025
filed Aug 14, 2025
45d lag
APPTRIM-20.9%
Stephen Mandel · 3.7% of reported portfolio
Original SEC filing ↗
+26.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2025
filed May 15, 2025
45d lag
PMTRIM-53.5%
Stephen Mandel · 5.8% of reported portfolio
Original SEC filing ↗
-10.4% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2025
filed May 15, 2025
45d lag
APPADD+46.9%
Stephen Mandel · 3.7% of reported portfolio
Original SEC filing ↗
+12.5% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2024
filed Feb 14, 2025
45d lag
AMZNTRIM-30.9%
Stephen Mandel · 7.6% of reported portfolio
Original SEC filing ↗
-6.8% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2024
filed Feb 14, 2025
45d lag
PMADD+44.4%
Stephen Mandel · 5.8% of reported portfolio
Original SEC filing ↗
+18.1% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2024
filed Feb 14, 2025
45d lag
INTUADD+25.6%
Stephen Mandel · 5.4% of reported portfolio
Original SEC filing ↗
+18.3% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2024
filed Feb 14, 2025
45d lag
CRMTRIM-33.0%
Stephen Mandel · 4.8% of reported portfolio
Original SEC filing ↗
-8.8% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2024
filed Feb 14, 2025
45d lag
COFNEWNEW
Stephen Mandel · 4.3% of reported portfolio
Original SEC filing ↗
-0.2% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2024
filed Feb 14, 2025
45d lag
UNHEXITEXIT
Stephen Mandel · 3.6% of reported portfolio
Original SEC filing ↗
-38.9% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2024
filed Feb 14, 2025
45d lag
APPTRIM-54.2%
Stephen Mandel · 2.3% of reported portfolio
Original SEC filing ↗
-24.4% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2024
filed Nov 14, 2024
45d lag
TSMTRIM-29.8%
Stephen Mandel · 8.5% of reported portfolio
Original SEC filing ↗
+3.4% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2024
filed Nov 14, 2024
45d lag
METAADD+35.6%
Stephen Mandel · 8.1% of reported portfolio
Original SEC filing ↗
+22.1% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2024
filed Nov 14, 2024
45d lag
AMZNADD+23.2%
Stephen Mandel · 7.6% of reported portfolio
Original SEC filing ↗
+6.9% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2024
filed Nov 14, 2024
45d lag
PMTRIM-32.8%
Stephen Mandel · 5.5% of reported portfolio
Original SEC filing ↗
+12.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2024
filed Nov 14, 2024
45d lag
KKRTRIM-29.2%
Stephen Mandel · 5.5% of reported portfolio
Original SEC filing ↗
-12.6% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2024
filed Nov 14, 2024
45d lag
CRMNEWNEW
Stephen Mandel · 4.8% of reported portfolio
Original SEC filing ↗
-5.1% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2024
filed Nov 14, 2024
45d lag
APPTRIM-58.4%
Stephen Mandel · 3.8% of reported portfolio
Original SEC filing ↗
+64.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2024
filed Nov 14, 2024
45d lag
MAEXITEXIT
Stephen Mandel · 3.7% of reported portfolio
Original SEC filing ↗
+4.1% vs SPY
63 sessions after disclosure
direction not supported so far

Latticework Follow

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The evidence is limited to selected widely owned U.S.-listed securities in Form 13F filings. Filing dates can trail quarter end by up to 45 days in the normal reporting cycle, and the filings do not disclose transaction dates, prices, or intent.