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Lone Pine Capital portfolio · 2025-06-30

Form 13F reports holdings as of 2025-06-30 and was filed on 2025-08-14. 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

$13.81 billion

Long positions

22

Calls / puts

2 / 0

Top 5 concentration

38.3%

Longs with AI data

6 / 22

Average AI 1Y

+20.3%

13F filing comparison

Quarter-over-quarter changes

2025-03-31 to 2025-06-30

Newly reported

5

No longer reported

5

Increased

5

Reduced

11

Newly reported this quarter

Present now and absent from the immediately preceding comparable filing.

PositionKindSharesValue

UNH

UNITEDHEALTH GROUP INC

LONG1,693,347$528.3 million

EQT CORP

EQT CORP

LONG7,518,227$438.5 million

BROOKFIELD CORP

BROOKFIELD CORP

LONG5,621,385$347.7 million

BOOKING HOLDINGS INC

BOOKING HOLDINGS INC

LONG59,972$347.2 million

WIX COM LTD

WIX COM LTD

LONG2,161,331$342.5 million

No longer reported this quarter

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

PositionKindPrior sharesPrior value

ARES MANAGEMENT CORPORATION

ARES MANAGEMENT CORPORATION · CL A COM STK

LONG1,604,441$235.2 million

CADENCE DESIGN SYSTEM INC

CADENCE DESIGN SYSTEM INC · COM

LONG1,218,389$309.9 million

ELI LILLY & CO

ELI LILLY & CO · COM

LONG551,827$455.8 million

TOLL BROTHERS INC

TOLL BROTHERS INC · COM

LONG3,800,580$401.3 million

WINGSTOP INC

WINGSTOP INC · COM

LONG449,056$101.3 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

VST

Vistra

LONG6,469,719$1.25 billion9.1%INCREASED26.7%

1Y +29.5%

5Y +146.1% · 23 models

META

Meta Platforms Inc.

LONG1,665,017$1.23 billion8.9%REDUCED24.3%

1Y +22.4%

5Y +133.8% · 25 models

AMAZON COM INC

AMAZON COM INC · COM · 023135106

LONG5,033,556$1.10 billion8.0%INCREASED

1Y —

5Y —

MSFT

Microsoft Corporation

LONG1,854,856$922.6 million6.7%REDUCED17.3%

1Y +16.8%

5Y +100.8% · 25 models

TSM

Taiwan Semiconductor Manufacturing Co.

LONG3,435,920$778.2 million5.6%REDUCED24.1%

1Y +24.4%

5Y +142.1% · 24 models

LPL FINL HLDGS INC

LPL FINL HLDGS INC · COM · 50212V100

LONG1,872,248$702.0 million5.1%INCREASED

1Y —

5Y —

KKR & CO INC

KKR & CO INC · COM · 48251W104

LONG5,221,769$694.7 million5.0%INCREASED

1Y —

5Y —

CAPITAL ONE FINL CORP

CAPITAL ONE FINL CORP · COM · 14040H105

LONG3,080,633$655.4 million4.7%REDUCED

1Y —

5Y —

INTU

Intuit Inc.

LONG771,666$607.8 million4.4%REDUCED15.9%

1Y +15.7%

5Y +94.7% · 24 models

CARVANA CO

CARVANA CO · CL A · 146869102

LONG1,765,291$594.8 million4.3%REDUCED

1Y —

5Y —

FLUTTER ENTMT PLC

FLUTTER ENTMT PLC · SHS · G3643J108

LONG1,862,764$532.3 million3.9%REDUCED

1Y —

5Y —

UNH

UnitedHealth Group Inc.

LONG1,693,347$528.3 million3.8%NEWLY REPORTED

1Y —

5Y —

SBUX

Starbucks Corporation

LONG5,561,954$509.6 million3.7%REDUCED12.9%

1Y +12.8%

5Y +63.7% · 25 models

SALESFORCE INC

SALESFORCE INC · COM · 79466L302

LONG1,863,179$508.1 million3.7%INCREASED

1Y —

5Y —

PM

Philip Morris International

LONG2,757,694$502.3 million3.6%REDUCED

1Y —

5Y —

ASML HOLDING N V

ASML HOLDING N V · N Y REGISTRY SHS · N07059210

LONG566,862$454.3 million3.3%REDUCED

1Y —

5Y —

APPLOVIN CORP

APPLOVIN CORP · COM CL A · 03831W108

LONG1,261,334$441.6 million3.2%REDUCED

1Y —

5Y —

EQT CORP

EQT CORP · COM · 26884L109

LONG7,518,227$438.5 million3.2%NEWLY REPORTED

1Y —

5Y —

BROOKFIELD CORP

BROOKFIELD CORP · CL A LTD VT SH · 11271J107

LONG5,621,385$347.7 million2.5%NEWLY REPORTED

1Y —

5Y —

BOOKING HOLDINGS INC

BOOKING HOLDINGS INC · COM · 09857L108

LONG59,972$347.2 million2.5%NEWLY REPORTED

1Y —

5Y —

WIX COM LTD

WIX COM LTD · SHS · M98068105

LONG2,161,331$342.5 million2.5%NEWLY REPORTED

1Y —

5Y —

TALEN ENERGY CORP

TALEN ENERGY CORP · COM · 87422Q109

LONG1,089,380$316.8 million2.3%UNCHANGED

1Y —

5Y —

CARVANA CO

CARVANA CO · CL A · 146869102

CALL383,500$129.2 millionUNCHANGED

1Y —

5Y —

APPLOVIN CORP

APPLOVIN CORP · COM CL A · 03831W108

CALL315,600$110.5 millionUNCHANGED

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 45.8%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.