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Backtest

LONE PINE CAPITAL LLC

What you'd have made by mirroring LONE PINE CAPITAL LLC's public 13F filings, starting with $10,000 on Aug 14, 2013 and rebalancing at every disclosure through Jun 2, 2026.

52 filings replayed243 of 310 CUSIPs mapped to tickers407 closed trades36 still open
Benchmark
SPYIWMQQQEFAAGG
US Aggregate Bond — Investment-grade bonds

Equity curve

$10,000 mirrored · vs AGG
$10k$20k$30k$40k$50k2015201720192021202320252026
Mirror portfolio$10k in AGG
Mirror — final
$53.26K
AGG — final
$13.06K
Mirror return
+432.6%
Excess return vs AGG
+402.0%

Risk profile

Weekly mirror returns vs AGG · rf ≈ 4%
Sharpe
0.46
Max drawdown
-57.8%
Beta vs AGG
0.98
Information ratio
0.56
CAGR
+14.0%
Volatility (ann.)
21.7%
Sortino
0.40
α (Jensen, ann.)
+11.8%
Tracking error
21.3%
Upside capture
93%
Downside capture
-30%
Window
12.8y

Drawdown

Underwater curve — distance below running peak
-60%-40%-20%0%-57.8%2015201720192021202320252026

Largest drawdown: -57.8% from 2021-09-15 to 2022-11-09 · recovered 2025-07-02.

Style decomposition

R² 44% · 668 weekly obs

Multivariate regression of weekly mirror excess return on five style factors built from the benchmark ETFs: SPY (market), IWM−SPY (size), QQQ−SPY (growth), EFA−SPY (international), AGG−SPY (bonds). The intercept is the “true alpha” after stripping these passive tilts. ✓ marks loadings whose |t-stat| ≥ 2 (≈ 95% confidence the loading is non-zero).

Market (β)
+1.04✓
Size tilt
+0.33✓
Growth tilt
+0.62✓
International tilt
+0.08
Bond tilt
+0.33✓
α (style-adjusted)
+2.5%
R²
44%
α t-stat
0.53
Observations
668

Rolling 1y alpha

Trailing 52w mirror return − AGG return
-50%0%+50%avg +15.0%now +6.9%201520162017201820192020202120222023202420252026

Whether the headline alpha was earned recently or decades ago. Bands above the zero line are quarters where the mirror beat AGG on a trailing-year basis; bands below are quarters where it lost ground. A flat positive line = steady outperformance; a curve that crosses often = regime-dependent strategy.

Realized P&L · closed trades

Cumulative profit from positions opened and later sold
$0$2.0k$4.0k$6.0k$8.0k$10k$12kMSFT +$1.8kADBE +$1.2kAMZN +$1.2kMETA +$6572015201720192021202320252026
Realized P&L
+$11.53K
Closed trades
407
Win rate
41%
Avg return / closed
+15.0%

Biggest closed trades

IssuerEntryExitHeldReturnP&L
MICROSOFT CORP
MSFT
Q3 2017Q2 202636Q+531%+$3.55B
ADOBE SYS INC
ADBE
Q2 2014Q2 202232Q+569%+$2.47B
AMAZON COM INC
AMZN
Q1 2018Q2 202633Q+264%+$2.38B
FACEBOOK INC
META
Q4 2014Q1 202229Q+191%+$1.3B
ALIBABA GROUP HLDG LTD
BABA
Q4 2016Q3 202015Q+183%+$996.82M
MICROSOFT CORP
MSFT
Q1 2014Q2 201713Q+98%+$938.05M
SERVICENOW INC
NOW
Q3 2017Q4 202221Q+271%+$925.54M
BATH & BODY WORKS INC
BBWI
Q4 2021Q4 202412Q-56%−$851.59M
MERCADOLIBRE INC
MELI
Q4 2017Q2 202010Q+195%+$824.99M
SNAP INC
SNAP
Q1 2021Q3 20226Q-81%−$786.52M

Every trade · entry date × return

Bubble = position size at entry
-50%-25%0%+25%+50%+100%+200%+500%SE · +978%APP · +617%ADBE · +569%2015201720192021202320252026
PositiveNegativeStill open (marked to market)
Best closed pick
SE +978%
Worst closed pick
LKNCY -94%
Total trades
443
Open trades
36