Lone Pine Capital LLC

Institutional manager·Stephen Mandel·CIK 0001061165
Latest Qtr return
+12.7%
SPY latest qtr
+17.6%
Alpha
-4.9ptsvs SPY
Invested
$12.5B
Holdings
36
Trades YTD
0

Performance · Fund vs SPY

Cumulative return · quarterly snapshots
+0%+185%Lone +184.8%SPY +72.2%Q1 '25Q2 '25Q3 '25Q4 '25

Coverage 100%. 4 quarters of 2025 measured against SPY adj-close benchmark.

EDITORIAL BRIEF · refreshed Jul 2, 2026

Why follow Lone Pine Capital LLC right now?

Lone Pine Capital's Q1 2026 13F-HR reports $12.5B across 36 positions, with the top ten holdings representing roughly 51% of disclosed assets. Vistra Corp (7.4%), ASML (6.9%), and Talen Energy (4.6%) anchor the book, combining power-infrastructure and semiconductor-equipment exposure. Carpenter Technology (5.7%) and Teradyne (4.4%) add materials and test-equipment weight. Among additions, Visa increased 510% quarter-over-quarter by share count, Spotify 288%, and AppLovin 88%, per the filing's position-change data.

Q1 2026 produced a return of +12.7% against SPY's +17.6%, a -4.9% alpha gap, reversing three consecutive quarters of outperformance that peaked at +27.8% alpha in Q2 2025. The portfolio remains concentrated at 36 positions. Past performance is not indicative of future results.

Generated from public SEC filings. Not investment advice.…

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Top holdings · current snapshot

Source: 13F-HR
01
$VST
VISTRA CORP
Q4 2025: Increased +18.7% (5.21M → 6.19M shares)
7.4%
+8.0%
~$150.33 Mar 2026
02
$ASML
ASML HLDG NV
Q4 2025: Increased +8.3% (605.0k → 655.1k shares)
6.9%
+22.1%
~$1,320.83 Mar 2026
03
$CRS
CARPENTER TECHNOLOGY CORP
Q4 2025: Increased +38.5% (1.31M → 1.82M shares)
5.7%
+19.0%
~$394.15 Mar 2026
04
$LPLA
LPL FINL HLDGS INC
Q4 2025: Sold 1.2% (2.07M → 2.05M shares)
4.9%
-9.0%
~$300.83 Mar 2026
05
$APP
APPLOVIN CORP
Q4 2025: Increased +87.7% (780.5k → 1.46M shares)
4.6%
+54.0%
~$398.00 Mar 2026
06
$TLN
TALEN ENERGY CORP
Q4 2025: Increased +40.6% (1.29M → 1.82M shares)
4.6%
-1.4%
~$319.23 Mar 2026
07
$TER
TERADYNE INC
Held since at least Q1 2024
4.4%
+41.7%
~$296.46 Mar 2026
08
$CVNA
CARVANA CO
Q4 2025: Sold 1.4% (1.78M → 1.75M shares)
4.4%
-76.8%
~$314.38 Mar 2026
09
$NU
NU HLDGS LTD
Q4 2025: Increased +28.3% (29.63M → 38.01M shares)
4.4%
-8.6%
~$14.37 Mar 2026
10
$MDLN
MEDLINE INC
Q4 2025: Increased +0.6% (11.72M → 11.79M shares)
4.2%
-3.4%
~$44.50 Mar 2026
See all 36 holdings · Pro →

Recent trades · Last 90 days

No Form 4 / 13D / 13G trade events on file in the recent window. 13F filers report position snapshots quarterly rather than per-trade events, so this section is most useful for managers who also file Form 4 or 13D/G.

Convergence · Lone Pine Capital LLC

Pattern cards reflect public SEC EDGAR and Congressional filing data only. Detection uses filing dates; trade execution dates may differ. Past convergence patterns do not predict future returns. Nothing here is investment advice.

Source data: SEC EDGAR · 13F-HR filings · Performance through 2026-03-31 · Last refreshed 13:39 UTC.