Lone Pine Capital
13F Holdings and Portfolio Analysis
Stephen Mandel 2025 Q4 13F holdings, quarterly changes, portfolio value trend and position weight distribution.
Lone Pine Capital Overview
Lone Pine Capital held 32 stocks in 2025 Q4, with total market value around $13.61B.
Lone Pine Capital's top five holdings in 2025 Q4: TAIWAN SEMICONDUCTOR MFG LTD(TSM) 6.81%, VISTRA CORP COM(VST) 6.18%, Carvana Co.(CVNA) 5.52%, LPL FINL HLDGS INC COM(LPLA) 5.44%, BROOKFIELD CORP CL A LTD VT SH(BN) 5.37%.
- Portfolio Value
- $13.61B
- Current Holdings
- 32 stocks
- New / Increased
- 14 / 10
- Reduced / Exited
- 7 / 7
Current Holdings
| 1 | TAIWAN SEMICONDUCTOR MFG LTDTSM | 0.93 | 6.81% | 3.05 - | $303.89 | $439.48 +44.62% | $97.63 | 0.00 | 4.00 | +$1.04B+350.14% | Held |
| 2 | VISTRA CORP COMVST | 0.84 | 6.18% | 5.21 +10.91% | $161.33 | $153.83 -4.65% | $111.59 | +0.51 | 2.00 | +$0.22B+37.85% | Increased |
| 3 | Carvana Co.CVNA | 0.75 | 5.52% | 1.78 +0.80% | $422.02 | $69.80 -83.46% | $210.76 | +0.01 | 1.00 | -$0.25B-66.88% | Increased |
| 4 | LPL FINL HLDGS INC COMLPLA | 0.74 | 5.44% | 2.07 -8.01% | $357.17 | $282.50 -20.91% | $229.03 | -0.18 | 3.75 | +$0.11B+23.35% | Reduced |
| 5 | BROOKFIELD CORP CL A LTD VT SHBN | 0.73 | 5.37% | 15.92 +56.40% | $45.89 | $43.88 -4.38% | $43.35 | +5.74 | 0.75 | +$0.01B+1.22% | Increased |
| 6 | ASML Holding N.V.ASML | 0.65 | 4.76% | 0.61 | $1069.86 | $1611.63 +50.64% | $1069.86 | +0.61 | 0.25 | +$0.33B+50.64% | New |
| 7 | KKR & CO INC COMKKR | 0.64 | 4.68% | 5.00 +22.56% | $127.48 | $90.55 -28.97% | $102.37 | +0.92 | 3.00 | -$0.06B-11.55% | Increased |
| 8 | Broadcom Inc.AVGO | 0.60 | 4.40% | 1.73 +11.67% | $346.10 | $479.23 +38.47% | $331.60 | +0.18 | 0.50 | +$0.26B+44.52% | Increased |
| 9 | MICROSOFT CORP COMMSFT | 0.60 | 4.38% | 1.23 +2.11% | $483.62 | $460.25 -4.83% | $257.11 | +0.03 | 8.75 | +$0.25B+79.01% | Increased |
| 10 | DoorDash, Inc.DASH | 0.57 | 4.21% | 2.53 | $226.48 | $154.61 -31.73% | $226.48 | +2.53 | 0.25 | -$0.18B-31.73% | New |
| 11 | Amazon.com, Inc.AMZN | 0.56 | 4.09% | 2.41 -14.13% | $230.82 | $264.24 +14.48% | $207.33 | -0.40 | 8.25 | +$0.14B+27.45% | Reduced |
| 12 | CAPITAL ONE FINL CORP COMCOF | 0.56 | 4.09% | 2.29 -10.69% | $242.36 | $183.86 -24.14% | $178.32 | -0.27 | 1.25 | +$0.01B+3.11% | Reduced |
| 13 | AppLovin CorporationAPP | 0.53 | 3.86% | 0.78 -29.63% | $673.82 | $570.99 -15.26% | $256.81 | -0.33 | 2.00 | +$0.25B+122.34% | Reduced |
| 14 | NU HLDGS LTD ORD SHS CL ANU | 0.50 | 3.64% | 29.63 +16.62% | $16.74 | $11.64 -30.47% | $16.11 | +4.22 | 0.50 | -$0.13B-27.77% | Increased |
| 15 | MEDLINE INC-CL AMDLN | 0.49 | 3.62% | 11.72 | $42.00 | - | $42.00 | +11.72 | 0.25 | $0.00B0.00% | New |
| 16 | TALEN ENERGY CORP COMTLN | 0.48 | 3.56% | 1.29 +8.39% | $374.84 | $379.64 +1.28% | $217.36 | +0.10 | 1.50 | +$0.21B+74.66% | Increased |
| 17 | VULCAN MATLS CO COMVMC | 0.48 | 3.53% | 1.68 +21.62% | $285.22 | - | $303.64 | +0.30 | 0.50 | -$0.03B-6.07% | Increased |
| 18 | PHILIP MORRIS INTL INC COMPM | 0.42 | 3.12% | 2.64 -42.71% | $160.40 | $176.08 +9.78% | $224.52 | -1.97 | 2.25 | -$0.13B-21.58% | Reduced |
| 19 | CARPENTER TECHNOLOGY CORP COMCRS | 0.41 | 3.04% | 1.31 | $314.84 | $486.91 +54.65% | $314.84 | +1.31 | 0.25 | +$0.23B+54.65% | New |
| 20 | WINGSTOP INC COMWING | 0.38 | 2.80% | 1.60 +6.97% | $238.49 | - | $250.82 | +0.10 | 0.50 | -$0.02B-4.92% | Increased |
| 21 | AMPHENOL CORP NEW CL AAPH | 0.38 | 2.79% | 2.81 -7.06% | $135.14 | - | $123.75 | -0.21 | 0.50 | +$0.03B+9.20% | Reduced |
| 22 | TENET HEALTHCARE CORP COM NEWTHC | 0.36 | 2.61% | 1.79 | $198.72 | - | $198.72 | +1.79 | 0.25 | $0.00B0.00% | New |
| 23 | CLEAN HARBORS INC COMCLH | 0.32 | 2.37% | 1.38 | $234.48 | $286.86 +22.34% | $234.48 | +1.38 | 0.25 | +$0.07B+22.34% | New |
| 24 | AFFIRM HLDGS INC COM CL AAFRM | 0.28 | 2.09% | 3.82 | $74.43 | - | $74.43 | +3.82 | 0.25 | $0.00B0.00% | New |
| 25 | ENTEGRIS INC COMMON STOCKENTG | 0.26 | 1.89% | 3.05 | $84.25 | - | $84.25 | +3.05 | 0.25 | $0.00B0.00% | New |
Showing 1-25 of 32
"Holding Period (yrs)" is the latest uninterrupted holding duration, calculated by dividing continuous reported quarters by 4.
Cost basis is an estimate and can differ materially from the actual cost, especially in edge cases.
Cost basis estimate: from the latest uninterrupted holding period, new or increased shares are added to the cost pool at the report price; reductions remove shares at the then-average cost. Example: buy 100 shares at $10 in Q1 and add 50 shares at $16 in Q2, estimated cost basis is (100 x 10 + 50 x 16) / 150 = $12 per share.
Return shows estimated dollar return on top and percentage return below. It uses current price when available, otherwise report price.
Exited Holdings
Stocks no longer disclosed in the current 13F portfolio for 2025 Q4.
| 1 | Meta Platforms, Inc.META | 1.32 | 2.25 | $388.22 | $660.09 | +$0.36B+70.03% |
| 2 | Starbucks CorporationSBUX | 5.56 | 1.25 | $95.21 | $84.60 | -$0.06B-11.15% |
| 3 | EQT CORP COMEQT | 8.36 | 0.50 | $57.93 | $54.43 | -$0.03B-6.04% |
| 4 | FLUTTER ENTMT PLC SHSFLUT | 1.73 | 1.00 | $253.34 | $215.17 | -$0.07B-15.07% |
| 5 | Sea LimitedSE | 1.87 | 0.25 | $178.73 | $127.57 | -$0.10B-28.62% |
| 6 | CIENA CORP COM NEWCIEN | 2.01 | 0.25 | $145.67 | $145.67 | $0.00B0.00% |
| 7 | ETSY INCETSY | 3.88 | 0.25 | $66.39 | $66.39 | $0.00B0.00% |
Showing 1-7 of 7
Exited holdings are stocks disclosed in the previous report period but no longer disclosed in the current 13F portfolio.
"Holding Period (yrs)" is the latest uninterrupted holding duration, calculated by dividing continuous reported quarters by 4.
Cost basis uses the same weighted cost-pool method as current holdings. Estimated exit price uses the current report period weighted report price when available, otherwise the previous report price; it does not represent the actual sale price.
Exit return shows estimated dollar return on top and percentage return below.
Portfolio Visuals
Track portfolio value, position weights and Top 10 history.