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Lone Pine Capital portfolio · 2025-03-31

Form 13F reports holdings as of 2025-03-31 and was filed on 2025-05-15. It is delayed, can omit confidential positions, and is not the manager's current portfolio or fund NAV. Options show reported underlying value—not premium, net exposure, or investment intent.

Disclosed long book

$11.41 billion

Long positions

22

Calls / puts

2 / 0

Top 5 concentration

35.8%

Longs with AI data

7 / 22

Average AI 1Y

+20.3%

13F filing comparison

Quarter-over-quarter changes

2024-12-31 to 2025-03-31

Newly reported

6

No longer reported

12

Increased

10

Reduced

7

Newly reported this quarter

Present now and absent from the immediately preceding comparable filing.

PositionKindSharesValue

APPLOVIN CORP

APPLOVIN CORP

CALL315,600$83.6 million

CARVANA CO

CARVANA CO

CALL383,500$80.2 million

CARVANA CO

CARVANA CO

LONG2,314,168$483.8 million

TOLL BROTHERS INC

TOLL BROTHERS INC

LONG3,800,580$401.3 million

CADENCE DESIGN SYSTEM INC

CADENCE DESIGN SYSTEM INC

LONG1,218,389$309.9 million

WINGSTOP INC

WINGSTOP INC

LONG449,056$101.3 million

No longer reported this quarter

Present in the prior comparable filing and absent from this one.

PositionKindPrior sharesPrior value

BITDEER TECHNOLOGIES GROUP

BITDEER TECHNOLOGIES GROUP · CL A ORD SHS

LONG986,717$21.4 million

BLOCK INC

BLOCK INC · CL A

LONG3,765,793$320.1 million

CIPHER MINING INC

CIPHER MINING INC · COM

LONG2,344,380$10.9 million

CONSTELLATION ENERGY CORP

CONSTELLATION ENERGY CORP · COM

LONG1,737,526$388.7 million

HOWMET AEROSPACE INC

HOWMET AEROSPACE INC · COM

LONG3,061,707$334.9 million

HUT 8 CORP

HUT 8 CORP · COM

LONG692,839$14.2 million

IREN LIMITED

IREN LIMITED · ORDINARY SHARES

LONG711,839$7.0 million

LENNAR CORP

LENNAR CORP · CL A

LONG1,717,903$234.3 million

PTC INC

PTC INC · COM

LONG2,326,231$427.7 million

SPOTIFY TECHNOLOGY S A

SPOTIFY TECHNOLOGY S A · SHS

LONG913,564$408.7 million

TERAWULF INC

TERAWULF INC · COM

LONG1,480,928$8.4 million

WORKDAY INC

WORKDAY INC · CL A

LONG1,543,464$398.3 million

“No longer reported” means the position is absent from this comparable 13F filing. It does not prove the manager sold it: reporting thresholds, confidential treatment, corporate actions, or instrument changes can also explain the omission.

PositionKindSharesValueLong weightQuarter changeAI at filing · 1YAI now

META

Meta Platforms Inc.

LONG1,758,062$1.01 billion8.9%REDUCED

1Y +22.3%

5Y +129.8% · 25 models

INTU

Intuit Inc.

LONG1,403,802$861.9 million7.6%INCREASED

1Y +15.7%

5Y +94.7% · 24 models

AMAZON COM INC

AMAZON COM INC · COM · 023135106

LONG4,352,740$828.2 million7.3%INCREASED

1Y —

5Y —

MSFT

Microsoft Corporation

LONG1,960,328$735.9 million6.4%INCREASED

1Y +16.7%

5Y +98.6% · 25 models

SBUX

Starbucks Corporation

LONG6,607,888$648.2 million5.7%INCREASED

1Y +12.8%

5Y +63.7% · 25 models

TSM

Taiwan Semiconductor Manufacturing Co.

LONG3,865,381$641.7 million5.6%INCREASED

1Y +24.4%

5Y +142.1% · 24 models

LPL FINL HLDGS INC

LPL FINL HLDGS INC · COM · 50212V100

LONG1,764,015$577.1 million5.1%REDUCED

1Y —

5Y —

CAPITAL ONE FINL CORP

CAPITAL ONE FINL CORP · COM · 14040H105

LONG3,176,143$569.5 million5.0%REDUCED

1Y —

5Y —

KKR & CO INC

KKR & CO INC · COM · 48251W104

LONG4,763,771$550.7 million4.8%INCREASED

1Y —

5Y —

VST

Vistra

LONG4,604,788$540.8 million4.7%REDUCED

1Y +29.5%

5Y +146.1% · 23 models

FLUTTER ENTMT PLC

FLUTTER ENTMT PLC · SHS · G3643J108

LONG2,219,896$491.8 million4.3%INCREASED

1Y —

5Y —

CARVANA CO

CARVANA CO · CL A · 146869102

LONG2,314,168$483.8 million4.2%NEWLY REPORTED

1Y —

5Y —

PM

Philip Morris International

LONG3,008,542$477.5 million4.2%REDUCED

1Y —

5Y —

SALESFORCE INC

SALESFORCE INC · COM · 79466L302

LONG1,731,680$464.7 million4.1%INCREASED

1Y —

5Y —

LLY

Eli Lilly & Co.

LONG551,827$455.8 million4.0%REDUCED

1Y +20.4%

5Y +129.8% · 25 models

APPLOVIN CORP

APPLOVIN CORP · COM CL A · 03831W108

LONG1,593,928$422.3 million3.7%INCREASED

1Y —

5Y —

TOLL BROTHERS INC

TOLL BROTHERS INC · COM · 889478103

LONG3,800,580$401.3 million3.5%NEWLY REPORTED

1Y —

5Y —

ASML HOLDING N V

ASML HOLDING N V · N Y REGISTRY SHS · N07059210

LONG582,427$385.9 million3.4%INCREASED

1Y —

5Y —

CADENCE DESIGN SYSTEM INC

CADENCE DESIGN SYSTEM INC · COM · 127387108

LONG1,218,389$309.9 million2.7%NEWLY REPORTED

1Y —

5Y —

ARES MANAGEMENT CORPORATION

ARES MANAGEMENT CORPORATION · CL A COM STK · 03990B101

LONG1,604,441$235.2 million2.1%REDUCED

1Y —

5Y —

TALEN ENERGY CORP

TALEN ENERGY CORP · COM · 87422Q109

LONG1,089,380$217.5 million1.9%UNCHANGED

1Y —

5Y —

WINGSTOP INC

WINGSTOP INC · COM · 974155103

LONG449,056$101.3 million0.9%NEWLY REPORTED

1Y —

5Y —

APPLOVIN CORP

APPLOVIN CORP · COM CL A · 03831W108

CALL315,600$83.6 millionNEWLY REPORTED

1Y —

5Y —

CARVANA CO

CARVANA CO · CL A · 146869102

CALL383,500$80.2 millionNEWLY REPORTED

1Y —

5Y —

AI outlook values are averages across the latest successful run per covered model at the labeled cutoff. “No longer reported” does not necessarily mean sold; thresholds, confidential treatment, corporate actions, or instrument changes may explain an omission. Reviewed API mapping covers 47.1%of disclosed long-book value; exact editorial CUSIP mappings may add current-only AI coverage on this public page. Research use only. No warranty and not investment advice.