管理人记录 · ✦ 精选 · 已归档季度

Lone Pine Capital

Founded by Stephen Mandel · Greenwich, CT · CIK 1061165 · EDGAR 文件 ↗

Growth-oriented long/short equity.

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 差异 ⇄

$13.47B13F报告持仓市值

30持仓明细

55.9%前十大权重

21.50有效持仓

19.5%预计换手率

+4新增

−3清仓

申报的13F投资组合价值仅涵盖美国应申报多头仓位，不含现金、债券、空头仓位或非美国持仓，不等同于管理规模。

各季度报告持仓市值 Q2 2024 → Q2 2026

板块敞口

科技 33.6% (-2.3pp)

可选消费 16.0% (-1.1pp)

金融服务 15.8% (+5.0pp)

通信服务 11.9% (-0.4pp)

公用事业 10.0% (-1.8pp)

必选消费 5.8% (+1.7pp)

医疗保健 4.5% (+0.9pp)

工业 2.5% (-2.0pp)

占已申报普通股权益价值的比例；（±pp）较上一季度。

持仓组合 · Q4 2024

#	证券	权重	价值	股份	Δ股份		持有
1	META Meta Platforms, Inc.	8.9%	$1.19B	2.04M	+7.7%	▲ Add	3
2	AMZN Amazon.com, Inc.	6.2%	$831.28M	3.79M	-30.9%	▼ Trim	3
3	PM Philip Morris International…	5.8%	$778.47M	6.47M	+44.4%	▲ Add	3
4	TSM Taiwan Semiconductor…	5.5%	$742.65M	3.76M	-10.7%	▼ Trim	3
5	VST Vistra Corp.	5.5%	$738.01M	5.35M	-21.4%	▼ Trim	3
6	INTU Intuit Inc.	5.4%	$727.02M	1.16M	+25.6%	▲ Add	3
7	MSFT Microsoft Corporation	5.1%	$691.13M	1.64M	-1.0%	▼ Trim	3
8	LPLA LPL Financial Holdings Inc.	4.7%	$627.80M	1.92M	-11.8%	▼ Trim	3
9	LLY Eli Lilly and Company	4.5%	$604.37M	782.86K	新增	New	1
10	KKR KKR & Co. Inc.	4.4%	$598.76M	4.05M	-10.5%	▼ Trim	3
11	SBUX Starbucks Corporation	4.4%	$590.85M	6.48M	+59.8%	▲ Add	2
12	COF Capital One Financial…	4.3%	$577.01M	3.24M	新增	New	1
13	CRM Salesforce, Inc.	3.9%	$523.29M	1.57M	-33.0%	▼ Trim	2
14	FLTR.L Flutter Entertainment plc	3.7%	$494.29M	1.91M	新增	New	1
15	PTC PTC Inc.	3.2%	$427.72M	2.33M	-8.7%	▼ Trim	3
16	SPOT Spotify Technology S.A.	3.0%	$408.71M	913.56K	-41.2%	▼ Trim	3
17	WDAY Workday, Inc.	3.0%	$398.26M	1.54M	-3.8%	▼ Trim	2
18	CEG Constellation Energy…	2.9%	$388.70M	1.74M	-27.4%	▼ Trim	3
19	APP AppLovin Corporation	2.6%	$351.39M	1.09M	-54.2%	▼ Trim	3
20	HWM Howmet Aerospace Inc.	2.5%	$334.86M	3.06M	0.0%	Held	3
21	XYZ Block, Inc.	2.4%	$320.05M	3.77M	-50.9%	▼ Trim	3
22	ASML ASML Holding N.V.	2.3%	$306.18M	441.77K	-19.9%	▼ Trim	3
23	ARES Ares Management Corporation	2.2%	$296.89M	1.68M	-18.3%	▼ Trim	3
24	LEN Lennar Corporation	1.7%	$234.27M	1.72M	-41.3%	▼ Trim	2
25	TLN Talen Energy Corporation	1.6%	$219.48M	1.09M	+27.2%	▲ Add	2
26	BTDR Bitdeer Technologies Group	0.2%	$21.38M	986.72K	-24.0%	▼ Trim	2
27	HUT Hut 8 Corp.	0.1%	$14.20M	692.84K	-43.8%	▼ Trim	2
28	CIFR Cipher Mining Inc.	0.1%	$10.88M	2.34M	新增	New	1
29	WULF TeraWulf Inc.	0.1%	$8.38M	1.48M	-51.7%	▼ Trim	2
30	IREN IREN Limited	0.1%	$6.99M	711.84K	0.0%	Held	2

仅含普通股（SH）持仓；期权行显示于"期权"标签页，且不作净额处理。✂ = 变动基于拆股调整后的前期持股数计算。"持有 N+ 季度"= 在我们的数据窗口内每季度均有持仓，实际持有时间可能更长。

证券	股份	上期	变动	价值	权重
LLY Eli Lilly and Company	782.86K	n/a	新增	$604.37M	4.5%
COF Capital One Financial…	3.24M	n/a	新增	$577.01M	4.3%
FLTR.L Flutter Entertainment…	1.91M	n/a	新增	$494.29M	3.7%
CIFR Cipher Mining Inc.	2.34M	n/a	新增	$10.88M	0.1%

证券	股份	上期	变动	价值	权重	连续记录
META Meta Platforms, Inc.	2.04M	1.89M	+7.7%	$1.19B	8.9%	●●○○○○
PM Philip Morris…	6.47M	4.48M	+44.4%	$778.47M	5.8%
INTU Intuit Inc.	1.16M	921.36K	+25.6%	$727.02M	5.4%	●●○○○○
SBUX Starbucks Corporation	6.48M	4.05M	+59.8%	$590.85M	4.4%	●●○○○○
TLN Talen Energy Corporation	1.09M	856.22K	+27.2%	$219.48M	1.6%	●●○○○○

证券	股份	上期	变动	价值	权重	连续记录
AMZN Amazon.com, Inc.	3.79M	5.48M	-30.9%	$831.28M	6.2%
VST Vistra Corp.	5.35M	6.81M	-21.4%	$738.01M	5.5%	●●○○○○
TSM Taiwan Semiconductor…	3.76M	4.21M	-10.7%	$742.65M	5.5%	●●○○○○
MSFT Microsoft Corporation	1.64M	1.66M	-1.0%	$691.13M	5.1%	●●○○○○
CRM Salesforce, Inc.	1.57M	2.34M	-33.0%	$523.29M	3.9%
LPLA LPL Financial Holdings…	1.92M	2.18M	-11.8%	$627.80M	4.7%
CEG Constellation Energy…	1.74M	2.39M	-27.4%	$388.70M	2.9%
KKR KKR & Co. Inc.	4.05M	4.52M	-10.5%	$598.76M	4.4%	●●○○○○
SPOT Spotify Technology S.A.	913.56K	1.55M	-41.2%	$408.71M	3.0%	●●○○○○
LEN Lennar Corporation	1.72M	2.93M	-41.3%	$234.27M	1.7%
XYZ Block, Inc.	3.77M	7.67M	-50.9%	$320.05M	2.4%
PTC PTC Inc.	2.33M	2.55M	-8.7%	$427.72M	3.2%
ASML ASML Holding N.V.	441.77K	551.31K	-19.9%	$306.18M	2.3%	●●○○○○
WDAY Workday, Inc.	1.54M	1.60M	-3.8%	$398.26M	3.0%
APP AppLovin Corporation	1.09M	2.37M	-54.2%	$351.39M	2.6%	●●○○○○
ARES Ares Management…	1.68M	2.05M	-18.3%	$296.89M	2.2%
BTDR Bitdeer Technologies…	986.72K	1.30M	-24.0%	$21.38M	0.2%
HUT Hut 8 Corp.	692.84K	1.23M	-43.8%	$14.20M	0.1%
WULF TeraWulf Inc.	1.48M	3.07M	-51.7%	$8.38M	0.1%

证券	股份	上期	变动	价值	权重
UNH UnitedHealth Group…	n/a	821.88K	退出	$480.54M	3.6%
BKNG Booking Holdings Inc.	n/a	76.41K	退出	$321.86M	2.4%
GEV GE Vernova Inc.	n/a	1.16M	退出	$294.76M	2.2%

持仓持有时长

40–1 季度

262–4 季度

当前各持仓在我们数据窗口内已连续报告的季度数。

相似管理人

管理人	共同持仓	名称重叠	加权相似度
Wcm Investment Management, Llc	24	8.7%	0.3835	对比 ⇄
Point72 Asset Management	26	1.4%	0.2224	对比 ⇄
Parnassus Investments, Llc	10	6.3%	0.1555	对比 ⇄
Coatue Management	10	11.2%	0.1425	对比 ⇄
Capital Research Global Investors	18	4.2%	0.1246	对比 ⇄
Third Point	9	13.9%	0.1243	对比 ⇄
Alkeon Capital Management Llc	7	6.6%	0.1236	对比 ⇄
Soros Fund Management	9	3.5%	0.1163	对比 ⇄