13F filing · Dec 31, 2025

Lone Pine Capital portfolio · Dec 31, 2025

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Frequently asked questions

What did Lone Pine Capital hold in Dec 31, 2025?

Lone Pine Capital reported 32 long holdings for Dec 31, 2025 in its 13F filing on Insider Deck.

What did Lone Pine Capital buy last quarter?

Open the trades lens on the Lone Pine Capital filing for Dec 31, 2025 to see adds, trims, new positions, and exits versus the prior report.

What is Lone Pine Capital's largest position?

In the Dec 31, 2025 filing, one of the largest reported positions is TAIWAN SEMICONDUCTOR MFG LTD.

Institutional portfolio research

Lone Pine Capital

Hedge fundLone Pine Capital

Portfolio managerStephen Mandel

Performance · 2025 Q4↓ 2.09%

AUM (13F)$13.6BReported long U.S. value

# of holdings32Filed 2/17/2026

13F

Mar 2026LatestDec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024Jun 2024

Top Holdings

Stocks concentration

TAIWANTAIWAN SEMICONDUCTOR MFG LTD

VISTRAVISTRA CORP

CARVANCARVANA CO

LPLLPL FINL HLDGS INC

BNBROOKFIELD CORP

ASMLASML HOLDING N V

KKRKKR & CO INC

BROADCBROADCOM INC

MSFTMICROSOFT CORP

DOORDADOORDASH INC

AMZNAMAZON COM INC

CAPITACAPITAL ONE FINL CORP

APPLOVAPPLOVIN CORP

MEDLINMEDLINE INC

TALENTALEN ENERGY CORP

VULCANVULCAN MATLS CO

PHILIPPHILIP MORRIS INTL INC

CARPENCARPENTER TECHNOLOGY CORP

WINGSTWINGSTOP INC

AMPHENAMPHENOL CORP

TENETTENET HEALTHCARE CORP

CLEANCLEAN HARBORS INC

AFFIRMAFFIRM HLDGS INC

ENTEGRENTEGRIS INC

Ownership · 5QLatest activityEst. entryPrice · 3M

TAIWAN SEMICONDUCTOR MFG LTDCUSIP 874039100

6.81%3.05M$928M

• 0.0%0 shares

—Estimate pending for this holding

—

VISTRA CORPCUSIP 92840M102

6.18%5.21M$841M

↑ +10.9%+513K shares

—Estimate pending for this holding

—

CARVANA COCUSIP 146869102

5.52%1.78M$751M

↑ +0.8%+14.04K shares

—Estimate pending for this holding

—

LPL FINL HLDGS INCCUSIP 50212V100

5.44%2.07M$741M

↓ -8.0%−181K shares

—Estimate pending for this holding

—

BNBROOKFIELD CORP

5.37%15.92M$731M

↑ +56.4%+5.74M shares

—Estimate pending for this holding

—

ASML HOLDING N VCUSIP N07059210

4.76%605K$647M

NEW+605K shares

—Estimate pending for this holding

—

KKR & CO INCCUSIP 48251W104

4.68%5M$638M

↑ +22.6%+921K shares

—Estimate pending for this holding

—

BROADCOM INCCUSIP 11135F101

4.40%1.73M$599M

↑ +11.7%+181K shares

—Estimate pending for this holding

—

MSFTMICROSOFT CORP

4.38%1.23M$597M

↑ +2.1%+25.52K shares

—Estimate pending for this holding

—

DOORDASH INCCUSIP 25809K105

4.21%2.53M$573M

NEW+2.53M shares

—Estimate pending for this holding

—

AMZN.MXAMAZON COM INC

4.09%2.41M$557M

↓ -14.1%−397K shares

—Estimate pending for this holding

—

CAPITAL ONE FINL CORPCUSIP 14040H105

4.09%2.29M$556M

↓ -10.7%−275K shares

—Estimate pending for this holding

—

APPLOVIN CORPCUSIP 03831W108

3.86%781K$526M

↓ -29.6%−329K shares

—Estimate pending for this holding

—

NU HLDGS LTDCUSIP G6683N103

3.64%29.63M$496M

↑ +16.6%+4.22M shares

—Estimate pending for this holding

—

MEDLINE INCCUSIP 58507V107

3.62%11.72M$492M

NEW+11.72M shares

—Estimate pending for this holding

—

TALEN ENERGY CORPCUSIP 87422Q109

3.56%1.29M$484M

↑ +8.4%+100K shares

—Estimate pending for this holding

—

VULCAN MATLS COCUSIP 929160109

3.53%1.68M$480M

↑ +21.6%+299K shares

—Estimate pending for this holding

—

PHILIP MORRIS INTL INCCUSIP 718172109

3.12%2.64M$424M

↓ -42.7%−1.97M shares

—Estimate pending for this holding

—

CARPENTER TECHNOLOGY CORPCUSIP 144285103

3.04%1.31M$413M

NEW+1.31M shares

—Estimate pending for this holding

—

WINGSTOP INCCUSIP 974155103

2.80%1.60M$380M

↑ +7.0%+104K shares

—Estimate pending for this holding

—

AMPHENOL CORPCUSIP 032095101

2.79%2.81M$380M

↓ -7.1%−213K shares

—Estimate pending for this holding

—

TENET HEALTHCARE CORPCUSIP 88033G407

2.61%1.79M$355M

NEW+1.79M shares

—Estimate pending for this holding

—

CLEAN HARBORS INCCUSIP 184496107

2.37%1.38M$323M

NEW+1.38M shares

—Estimate pending for this holding

—

AFFIRM HLDGS INCCUSIP 00827B106

2.09%3.82M$284M

NEW+3.82M shares

—Estimate pending for this holding

—

ENTEGRIS INCCUSIP 29362U104

1.89%3.05M$257M

NEW+3.05M shares

—Estimate pending for this holding

—

MASTERCARD INCORPORATEDCUSIP 57636Q104

0.40%96.34K$55M

NEW+96.34K shares

—Estimate pending for this holding

—

TRANSDIGM GROUP INCCUSIP 893641100

0.19%19.23K$25.6M

NEW+19.23K shares

—Estimate pending for this holding

—

BOOKING HOLDINGS INCCUSIP 09857L108

0.18%4.63K$24.8M

↓ -85.1%−26.52K shares

—Estimate pending for this holding

—

BOSTON SCIENTIFIC CORPCUSIP 101137107

0.14%202K$19.2M

NEW+202K shares

—Estimate pending for this holding

—

HILTON WORLDWIDE HLDGS INCCUSIP 43300A203

0.12%57.82K$16.6M

NEW+57.82K shares

—Estimate pending for this holding

—

SPOTIFY TECHNOLOGY S ACUSIP L8681T102

0.08%17.76K$10.3M

NEW+17.76K shares

—Estimate pending for this holding

—

VISA INCCUSIP 92826C839

0.04%15.22K$5.3M

NEW+15.22K shares

—Estimate pending for this holding

—

Methodology13F filings report quarter-end positions, not trade fills. Estimated entry prices reconstruct rolling cost basis from share changes and Yahoo quarter-average closes. Performance is a derived prior-book return, not licensed fund NAV. Options and unresolved CUSIPs are excluded from estimates.