Manager record · ✦ curated · archived quarter
Lone Pine Capital
Founded by Stephen Mandel · Greenwich, CT · CIK 1061165 · EDGAR filings ↗
Growth-oriented long/short equity.
$13.61BReported 13F value
32Positions
51.8%Top-10 weight
23.30Effective holdings
29.5%Est. turnover
+14New
−7Exits
Reported 13F portfolio value covers U.S. reportable long positions only — not cash, bonds, shorts or non-U.S. holdings. It is not assets under management.
Sector exposure
Technology
28.9% (+3.8pp)
Financial Services
25.8% (+4.5pp)
Consumer Cyclical
12.7% (-11.5pp)
Utilities
9.7% (-0.7pp)
Basic Materials
6.6% (+3.5pp)
Healthcare
6.4%
Communication Services
4.3% (-2.8pp)
Consumer Defensive
3.1% (-2.3pp)
Industrials
2.6%
Share of reported common-equity value; (±pp) vs prior quarter.
The portfolio · Q4 2025
| # | Security | Weight | Value | Shares | Δ shares | Held | |
|---|---|---|---|---|---|---|---|
| 1 | TSM Taiwan Semiconductor… | 6.8% | $927.59M | 3.05M | 0.0% | Held | 7 |
| 2 | VST Vistra Corp. | 6.2% | $840.83M | 5.21M | +10.9% | ▲ Add | 7 |
| 3 | CVNA Carvana Co. | 5.5% | $750.91M | 1.78M | +0.8% | ▲ Add | 4 |
| 4 | LPLA LPL Financial Holdings Inc. | 5.4% | $741.11M | 2.07M | -8.0% | ▼ Trim | 7 |
| 5 | BN Brookfield Corporation | 5.4% | $730.72M | 15.92M | +4.3% ✂ | ▲ Add | 3 |
| 6 | ASML ASML Holding N.V. | 4.8% | $647.28M | 605.02K | New | New | 1 |
| 7 | KKR KKR & Co. Inc. | 4.7% | $637.54M | 5.00M | +22.6% | ▲ Add | 7 |
| 8 | AVGO Broadcom Inc. | 4.4% | $598.83M | 1.73M | +11.7% | ▲ Add | 2 |
| 9 | MSFT Microsoft Corporation | 4.4% | $596.85M | 1.23M | +2.1% | ▲ Add | 7 |
| 10 | DASH DoorDash, Inc. | 4.2% | $572.97M | 2.53M | New | New | 1 |
| 11 | AMZN Amazon.com, Inc. | 4.1% | $557.32M | 2.41M | -14.1% | ▼ Trim | 7 |
| 12 | COF Capital One Financial… | 4.1% | $556.19M | 2.29M | -10.7% | ▼ Trim | 5 |
| 13 | APP AppLovin Corporation | 3.9% | $525.94M | 780.53K | -29.6% | ▼ Trim | 7 |
| 14 | NU Nu Holdings Ltd. | 3.6% | $496.01M | 29.63M | +16.6% | ▲ Add | 2 |
| 15 | MDLN Medline Inc. | 3.6% | $492.10M | 11.72M | New | New | 1 |
| 16 | TLN Talen Energy Corporation | 3.6% | $484.49M | 1.29M | +8.4% | ▲ Add | 6 |
| 17 | VMC Vulcan Materials Company | 3.5% | $480.29M | 1.68M | +21.6% | ▲ Add | 2 |
| 18 | PM Philip Morris International… | 3.1% | $424.03M | 2.64M | -42.7% | ▼ Trim | 7 |
| 19 | CRS Carpenter Technology… | 3.0% | $413.37M | 1.31M | New | New | 1 |
| 20 | WING Wingstop Inc. | 2.8% | $380.45M | 1.60M | +7.0% | ▲ Add | 2 |
| 21 | APH Amphenol Corporation | 2.8% | $379.71M | 2.81M | -7.1% | ▼ Trim | 2 |
| 22 | THC Tenet Healthcare Corporation | 2.6% | $355.18M | 1.79M | New | New | 1 |
| 23 | CLH Clean Harbors, Inc. | 2.4% | $323.14M | 1.38M | New | New | 1 |
| 24 | AFRM Affirm Holdings, Inc. | 2.1% | $284.11M | 3.82M | New | New | 1 |
| 25 | ENTG Entegris, Inc. | 1.9% | $257.32M | 3.05M | New | New | 1 |
| 26 | MA Mastercard Incorporated | 0.4% | $55.00M | 96.34K | New | New | 1 |
| 27 | TDG TransDigm Group Incorporated | 0.2% | $25.57M | 19.23K | New | New | 1 |
| 28 | BKNG Booking Holdings Inc. | 0.2% | $24.80M | 4.63K | -85.1% | ▼ Trim | 3 |
| 29 | BSX Boston Scientific… | 0.1% | $19.23M | 201.70K | New | New | 1 |
| 30 | HLT Hilton Worldwide Holdings… | 0.1% | $16.61M | 57.82K | New | New | 1 |
| 31 | SPOT Spotify Technology S.A. | 0.1% | $10.31M | 17.76K | New | New | 1 |
| 32 | V Visa Inc. | 0.0% | $5.34M | 15.22K | New | New | 1 |
Common-stock (SH) positions only; option lines are in the Options tab and are never netted. ✂ = change computed against split-adjusted prior shares. “Held N+” = held every quarter in our window, possibly longer.
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| ASML ASML Holding N.V. | 605.02K | — | New | $647.28M | 4.8% | |
| DASH DoorDash, Inc. | 2.53M | — | New | $572.97M | 4.2% | |
| MDLN Medline Inc. | 11.72M | — | New | $492.10M | 3.6% | |
| CRS Carpenter Technology… | 1.31M | — | New | $413.37M | 3.0% | |
| THC Tenet Healthcare… | 1.79M | — | New | $355.18M | 2.6% | |
| CLH Clean Harbors, Inc. | 1.38M | — | New | $323.14M | 2.4% | |
| AFRM Affirm Holdings, Inc. | 3.82M | — | New | $284.11M | 2.1% | |
| ENTG Entegris, Inc. | 3.05M | — | New | $257.32M | 1.9% | |
| MA Mastercard Incorporated | 96.34K | — | New | $55.00M | 0.4% | |
| TDG TransDigm Group… | 19.23K | — | New | $25.57M | 0.2% | |
| BSX Boston Scientific… | 201.70K | — | New | $19.23M | 0.1% | |
| HLT Hilton Worldwide… | 57.82K | — | New | $16.61M | 0.1% | |
| SPOT Spotify Technology S.A. | 17.76K | — | New | $10.31M | 0.1% | |
| V Visa Inc. | 15.22K | — | New | $5.34M | 0.0% |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| VST Vistra Corp. | 5.21M | 4.70M | +10.9% | $840.83M | 6.2% | |
| CVNA Carvana Co. | 1.78M | 1.77M | +0.8% | $750.91M | 5.5% | |
| BN Brookfield Corporation | 15.92M | 10.18M | +4.3% ✂ | $730.72M | 5.4% | ●●●○○○ |
| KKR KKR & Co. Inc. | 5.00M | 4.08M | +22.6% | $637.54M | 4.7% | |
| MSFT Microsoft Corporation | 1.23M | 1.21M | +2.1% | $596.85M | 4.4% | |
| AVGO Broadcom Inc. | 1.73M | 1.55M | +11.7% | $598.83M | 4.4% | ●●○○○○ |
| TLN Talen Energy Corporation | 1.29M | 1.19M | +8.4% | $484.49M | 3.6% | ●●○○○○ |
| NU Nu Holdings Ltd. | 29.63M | 25.41M | +16.6% | $496.01M | 3.6% | ●●○○○○ |
| VMC Vulcan Materials Company | 1.68M | 1.38M | +21.6% | $480.29M | 3.5% | ●●○○○○ |
| WING Wingstop Inc. | 1.60M | 1.49M | +7.0% | $380.45M | 2.8% | ●●○○○○ |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| APP AppLovin Corporation | 780.53K | 1.11M | -29.6% | $525.94M | 3.9% | ●●●○○○ |
| LPLA LPL Financial Holdings… | 2.07M | 2.26M | -8.0% | $741.11M | 5.4% | |
| PM Philip Morris… | 2.64M | 4.61M | -42.7% | $424.03M | 3.1% | |
| AMZN Amazon.com, Inc. | 2.41M | 2.81M | -14.1% | $557.32M | 4.1% | ●●○○○○ |
| COF Capital One Financial… | 2.29M | 2.57M | -10.7% | $556.19M | 4.1% | ●●●●○○ |
| APH Amphenol Corporation | 2.81M | 3.02M | -7.1% | $379.71M | 2.8% | |
| BKNG Booking Holdings Inc. | 4.63K | 31.15K | -85.1% | $24.80M | 0.2% | ●●○○○○ |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| META Meta Platforms, Inc. | — | 1.32M | Exit | $971.04M | 7.1% | |
| SBUX Starbucks Corporation | — | 5.56M | Exit | $470.54M | 3.4% | |
| EQT EQT Corporation | — | 8.36M | Exit | $455.14M | 3.3% | |
| FLTR.L Flutter Entertainment… | — | 1.73M | Exit | $440.27M | 3.2% | |
| SE Sea Limited | — | 1.87M | Exit | $334.14M | 2.4% | |
| CIEN Ciena Corporation | — | 2.01M | Exit | $292.31M | 2.1% | |
| ETSY Etsy, Inc. | — | 3.88M | Exit | $257.61M | 1.9% |
Position age
140–1 quarters
82–4 quarters
105–8 quarters
Consecutive quarters each current position has been reported, within our data window.
Similar managers
| Manager | Common positions | Name overlap | Weighted similarity | |
|---|---|---|---|---|
| Wcm Investment Management, Llc | 24 | 8.7% | 0.3835 | Compare ⇄ |
| Point72 Asset Management | 26 | 1.4% | 0.2224 | Compare ⇄ |
| Parnassus Investments, Llc | 10 | 6.3% | 0.1555 | Compare ⇄ |
| Coatue Management | 10 | 11.2% | 0.1425 | Compare ⇄ |
| Capital Research Global Investors | 18 | 4.2% | 0.1246 | Compare ⇄ |
| Third Point | 9 | 14.8% | 0.1245 | Compare ⇄ |
| Alkeon Capital Management Llc | 7 | 6.6% | 0.1236 | Compare ⇄ |
| Soros Fund Management | 9 | 3.5% | 0.118 | Compare ⇄ |
Similarity of reported longs only — hedges and non-13F assets are invisible. Methodology
Filing record
Aug 14 2026
13F-HR · period Q2 2026
$16.36B · 34 positions · View original SEC filing ↗
May 15 2026
13F-HR · period Q1 2026
$12.54B · 36 positions · View original SEC filing ↗
Feb 17 2026
13F-HR · period Q4 2025
$13.61B · 32 positions · View original SEC filing ↗
Nov 14 2025
13F-HR · period Q3 2025
$13.74B · 25 positions · View original SEC filing ↗
Aug 14 2025
13F-HR · period Q2 2025
$14.05B · 24 positions · View original SEC filing ↗
May 15 2025
13F-HR · period Q1 2025
$11.58B · 24 positions · View original SEC filing ↗
Feb 14 2025
13F-HR · period Q4 2024
$13.47B · 30 positions · View original SEC filing ↗
Nov 14 2024
13F-HR · period Q3 2024
$13.41B · 29 positions · View original SEC filing ↗
Aug 14 2024
13F-HR · period Q2 2024
$12.33B · 24 positions · View original SEC filing ↗
Provenance: All holdings parsed from this manager's 13F information tables on SEC EDGAR; values as reported, whole USD. Changes compare the latest accepted version of each quarter (amendments incorporated) on split-adjusted share counts.
Reporting period: Q4 2025 · latest filing Aug 14, 2026 ·
Change methodology