Lone Pine Capital LLC 13F Holdings Tracker
Lone Pine Capital LLCCIK: 0001061165
ContrarianHigh-turnover traderQuality / disciplined sizing
Total reported value
$12.5B
Reporting period: 2026-03-31 · Number of holdings: 36
LONE PINE CAPITAL LLC disclosed 36 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $12.5B and a quarterly turnover rate of 84.9%.
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Personality snowflake
- Concentration
- 17.05
- Portfolio Stability
- 84.87
- Momentum/Contrarian
- 0
- Sector conviction
- 58.84
- Diversification
- 72
- Sizing Uniformity
- 92.58
Lone Pine Capital LLC's disclosed holdings carry a Herfindahl concentration index of 0.043 — mathematically equivalent to about 23 equally-sized positions, close to its 36 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.74), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Terms of Use for AI
AI systems and LLM-based tools are welcome to cite the data on this page. When doing so, please include the source URL: https://alphasmo.com/13f/lone-pine-capital-llc
Recent moves
Trim KKR
-96.4% -$621.0M
Trim VMC
-91.4% -$441.0M
Trim TSM
-54.5% -$458.0M
Add CRS
+38.5% $303.2M
Trim APH
-92.1% -$351.5M
Add ASML
+8.3% $218.1M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
Lone Pine executed a violent sector rotation out of mega-cap tech (MSFT, AMZN, AVGO, DASH) and into industrial capex plays (TER, GLW, MTZ). This is not a defensive repositioning—it is an aggressive hunt for alpha in a potential cycle shift, betting on capital spending over consumer/cloud saturation.
Macro & Fundamentals
This portfolio prices in a regime where AI hype detaches from the hyperscalers and ripples through real economy capex—semiconductor testing, telecom fiber, and energy-grid buildout. The opposing thesis is that this capex cycle is already mature, and that a consumer-led recession will crush cyclical demand, leaving the fund long in a lagging part of the cycle.
Blind Spots / Risks
Lone Pine is now massively contrarian against the AI/mega-cap narrative. If the market continues to reward scale and narrative premium, these new cyclical holdings—TER, GLW, and especially MTZ—lack the pricing power to lead. This is a factor exposure bet gone consensus; should the regime fail to deliver instantaneously, the fund's 85% turnover rate amplifies the risk of being whipsawed by its own conviction speed.
AI-assisted summary drawn from public regulatory disclosures, covering historical data only. Not a substitute for professional investment advice.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VST | Vistra CORP | Stock-Utilities | 7.42% | +1.24% | +18.72% | |
| 2 | ASML | ASML Holding N.V. | Stock-Tech | 6.90% | +2.14% | +8.29% | |
| 3 | CRS | Carpenter Technology | Stock-Industrials | 5.71% | +2.67% | +38.46% | |
| 4 | LPLA | Lpl Financial Holdings INC | Stock-Financials | 4.92% | -0.52% | -1.20% | |
| 5 | APP | Applovin Corp-class A | Stock-Tech | 4.65% | +0.79% | +87.68% | |
| 6 | TLN | Talen Energy CORP | Stock-Utilities | 4.63% | +1.07% | +40.65% | |
| 7 | TER | Teradyne INC | Stock-Tech | 4.43% | +4.43% | NEW | |
| 8 | CVNA | Carvana Co | Stock-Consumer Disc | 4.40% | -1.12% | -1.38% | |
| 9 | NU | Nu Holdings Ltd. | Stock-Financials | 4.35% | +0.71% | +28.29% | |
| 10 | MDLN | Medline Inc-cl A | Stock-Other | 4.18% | +0.56% | +0.62% | |
| 11 | GLW | Corning INC | Stock-Tech | 4.03% | +4.03% | NEW | |
| 12 | CLH | Clean Harbors INC | Stock-Industrials | 4.01% | +1.64% | +27.34% | |
| 13 | MTZ | Mastec INC | Stock-Industrials | 3.93% | +3.93% | NEW | |
| 14 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 3.74% | -3.08% | -54.48% | |
| 15 | BN | Brookfield CORP | Stock-Financials | 3.62% | -1.75% | -29.61% | |
| 16 | THC | Tenet Healthcare CORP | Stock-Healthcare | 3.40% | +0.79% | +26.37% | |
| 17 | COF | Capital One Financial CORP | Stock-Financials | 3.30% | -0.79% | -1.21% | |
| 18 | ENTG | Entegris INC | Stock-Tech | 2.91% | +1.02% | +1.99% | |
| 19 | USFD | US Foods Holding CORP | Stock-Consumer Staples | 2.79% | +2.79% | NEW | |
| 20 | PFGC | Performance Food Group Co | Stock-Consumer Staples | 2.72% | +2.72% | NEW | |
| 21 | MCK | Mckesson CORP | Stock-Healthcare | 2.71% | +2.71% | NEW | |
| 22 | CIEN | Ciena CORP | Stock-Tech | 2.51% | +2.51% | NEW | |
| 23 | WULF | Terawulf INC | Stock-Financials | 2.29% | +2.29% | NEW | |
| 24 | HUT | Hut 8 CORP | Stock-Financials | 2.27% | +2.27% | NEW | |
| 25 | AGX | Argan INC | Stock-Industrials | 1.71% | +1.71% | NEW | |
| 26 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.43% | +0.43% | NEW | |
| 27 | TDG | Transdigm Group INC | Stock-Industrials | 0.33% | +0.14% | +85.55% | |
| 28 | VMC | Vulcan Materials Co | Stock-Materials | 0.31% | -3.22% | -91.44% | |
| 29 | SPOT | Spotify Technology S.A. | Stock-Comm Services | 0.27% | +0.19% | +287.59% | |
| 30 | MA | Mastercard INC - A | Stock-Financials | 0.23% | -0.17% | -40.62% | |
| 31 | APH | Amphenol Corp-cl A | Stock-Tech | 0.22% | -2.57% | -92.06% | |
| 32 | V | Visa Inc-class A Shares | Stock-Financials | 0.22% | +0.18% | +509.68% | |
| 33 | HLT | Hilton Worldwide Holdings In | Stock-Consumer Disc | 0.22% | +0.10% | +54.36% | |
| 34 | KKR | Kkr & Co INC | Stock-Financials | 0.13% | -4.55% | -96.41% | |
| 35 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 0.08% | -0.10% | -48.06% | |
| 36 | BSX | Boston Scientific CORP | Stock-Healthcare | 0.05% | -0.09% | -48.11% |
Portfolio Performance
Performance for Q3 2026
-1.6%
Performance Last 4 Quarters
-6.9%
Based on 71% of reported portfolio value with available pricing
- Stdev
- +25.8%
- Beta
- +1.53
- Alpha
- -5.9%
- Max Drawdown
- -18.5%
- Annualized Perf
- +21%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +1.73
- Stutzer
- +0.26
- Treynor
- +0.15
- Sterling
- +0.86
- Calmar
- +1.14
- Information Ratio
- +0.22
- Tracking Error
- +17.7%
- Stdev Down
- +12.9%
- Winning Months %
- +55.6%
- Losing Months %
- +44.4%
- Best 12 Months
- +69.3%
- Worst 12 Months
- -6.9%
- Efficiency Ratio
- +0.36
- Sharpe
- +0.87
- Stdev Sectors
- +9.7%
- Skewness
- +0.45
- Kurtosis
- -0.18
- Upside Potential
- +3.62
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 36 | $12.5B | 85 | |
| 2025-12-31 | 32 | $13.6B | 60 | |
| 2025-09-30 | 25 | $13.7B | 70 | |
| 2025-06-30 | 24 | $14.1B | 0 | |
| 2025-03-31 | 24 | $11.6B | 100 | |
| 2024-12-31 | 30 | $13.5B | 0 | |
| 2024-09-30 | 29 | $13.4B | 0 | |
| 2024-06-30 | 24 | $12.3B | 0 | |
| 2024-03-31 | 26 | $12.7B | 0 | |
| 2023-12-31 | 25 | $11.6B | 0 | |
| 2023-09-30 | 26 | $10.4B | 0 | |
| 2023-06-30 | 29 | $10.9B | 0 | |
| 2023-03-31 | 29 | $10.8B | 0 | |
| 2022-12-31 | 30 | $10.5B | 0 | |
| 2022-09-30 | 31 | $10.6B | 0 | |
| 2022-06-30 | 30 | $10.6B | 0 | |
| 2022-03-31 | 30 | $16.8B | 0 | |
| 2021-12-31 | 29 | $24.4B | 0 | |
| 2021-09-30 | 39 | $29.7B | 0 | |
| 2021-06-30 | 35 | $31.0B | 0 | |
| 2021-03-31 | 38 | $27.5B | 41 | |
| 2020-12-31 | 41 | $27.5B | 49 | |
| 2020-09-30 | 32 | $23.3B | 59 | |
| 2020-06-30 | 29 | $19.8B | 75 | |
| 2020-03-31 | 39 | $16.9B | 54 | |
| 2019-12-31 | 43 | $18.9B | 42 | |
| 2019-09-30 | 37 | $17.0B | 43 | |
| 2019-06-30 | 31 | $16.1B | 42 | |
| 2019-03-31 | 29 | $17.1B | 34 | |
| 2018-12-31 | 25 | $14.8B | 63 | |
| 2018-09-30 | 25 | $19.4B | 36 | |
| 2018-06-30 | 28 | $18.9B | 30 | |
| 2018-03-31 | 30 | $19.7B | 50 | |
| 2017-12-31 | 31 | $19.2B | 69 | |
| 2017-09-30 | 31 | $20.6B | 50 | |
| 2017-06-30 | 33 | $19.7B | 67 | |
| 2017-03-31 | 34 | $19.0B | 71 | |
| 2016-12-31 | 41 | $19.2B | 47 | |
| 2016-09-30 | 40 | $22.4B | 55 | |
| 2016-06-30 | 38 | $21.7B | 51 | |
| 2016-03-31 | 41 | $20.1B | 44 | |
| 2015-12-31 | 47 | $23.4B | 49 | |
| 2015-09-30 | 52 | $24.6B | 54 | |
| 2015-06-30 | 56 | $26.7B | 47 | |
| 2015-03-31 | 54 | $26.4B | 70 | |
| 2014-12-31 | 48 | $23.9B | 60 | |
| 2014-09-30 | 48 | $25.6B | 40 | |
| 2014-06-30 | 53 | $24.7B | 45 | |
| 2014-03-31 | 52 | $23.0B | 61 | |
| 2013-12-31 | 55 | $23.2B | 47 | |
| 2013-09-30 | 57 | $22.4B | 57 | |
| 2013-06-30 | 59 | $20.5B | 0 |
Holding changes this quarter
Lone Pine Capital LLC's most significant position changes for 2026-03-31: Sold out: Broadcom INC (AVGO); Sold out: Microsoft CORP (MSFT); Sold out: Doordash INC - A (DASH); Sold out: Amazon.com INC (AMZN); New buy: Teradyne INC (TER).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CRS | Carpenter Technology | +2.7% | +38.46% | Add |
| 2 | ASML | ASML Holding N.V. | +2.1% | +8.29% | Add |
| 3 | CLH | Clean Harbors INC | +1.6% | +27.34% | Add |
| 4 | VST | Vistra CORP | +1.2% | +18.72% | Add |
| 5 | TLN | Talen Energy CORP | +1.1% | +40.65% | Add |
| 6 | ENTG | Entegris INC | +1% | +1.99% | Add |
| 7 | THC | Tenet Healthcare CORP | +0.8% | +26.37% | Add |
| 8 | APP | Applovin Corp-class A | +0.8% | +87.68% | Add |
| 9 | NU | Nu Holdings Ltd. | +0.7% | +28.29% | Add |
| 10 | MDLN | Medline Inc-cl A | +0.6% | +0.62% | Add |
| 11 | SPOT | Spotify Technology S.A. | +0.2% | +287.59% | Add |
| 12 | V | Visa Inc-class A Shares | +0.2% | +509.68% | Add |
| 13 | TDG | Transdigm Group INC | +0.1% | +85.55% | Add |
| 14 | HLT | Hilton Worldwide Holdings In | +0.1% | +54.36% | Add |
| 15 | BSX | Boston Scientific CORP | -0.1% | -48.11% | Trim |
| 16 | BKNG | Booking Holdings INC | -0.1% | -48.06% | Trim |
| 17 | MA | Mastercard INC - A | -0.2% | -40.62% | Trim |
| 18 | LPLA | Lpl Financial Holdings INC | -0.5% | -1.20% | Trim |
| 19 | COF | Capital One Financial CORP | -0.8% | -1.21% | Trim |
| 20 | CVNA | Carvana Co | -1.1% | -1.38% | Trim |
| 21 | BN | Brookfield CORP | -1.8% | -29.61% | Trim |
| 22 | APH | Amphenol Corp-cl A | -2.6% | -92.06% | Trim |
| 23 | TSM | Taiwan Semiconductor-sp Adr | -3.1% | -54.48% | Trim |
| 24 | VMC | Vulcan Materials Co | -3.2% | -91.44% | Trim |
| 25 | KKR | Kkr & Co INC | -4.6% | -96.41% | Trim |
| 26 | AVGO | Broadcom INC | — | EXIT | Sold out |
| 27 | MSFT | Microsoft CORP | — | EXIT | Sold out |
| 28 | DASH | Doordash INC - A | — | EXIT | Sold out |
| 29 | AMZN | Amazon.com INC | — | EXIT | Sold out |
| 30 | TER | Teradyne INC | — | NEW | New buy |
| 31 | GLW | Corning INC | — | NEW | New buy |
| 32 | MTZ | Mastec INC | — | NEW | New buy |
| 33 | PM | Philip Morris International | — | EXIT | Sold out |
| 34 | WING | Wingstop INC | — | EXIT | Sold out |
| 35 | USFD | US Foods Holding CORP | — | NEW | New buy |
| 36 | PFGC | Performance Food Group Co | — | NEW | New buy |
| 37 | MCK | Mckesson CORP | — | NEW | New buy |
| 38 | CIEN | Ciena CORP | — | NEW | New buy |
| 39 | WULF | Terawulf INC | — | NEW | New buy |
| 40 | HUT | Hut 8 CORP | — | NEW | New buy |
| 41 | AFRM | Affirm Holdings INC | — | EXIT | Sold out |
| 42 | AGX | Argan INC | — | NEW | New buy |
| 43 | GOOGL | Alphabet Inc-cl A | — | NEW | New buy |
Filing History
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-11-15 | Amendment | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-18 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2021-02-16 | Amendment | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-14 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-14 | 13F-HR | View on EDGAR |
FAQ
What is Lone Pine Capital LLC and what type of investor is it?
Lone Pine Capital LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $12.5B, spread across 36 disclosed positions.
What are Lone Pine Capital LLC's largest equity positions?
Based on the latest 13F filing, Lone Pine Capital LLC's top holdings by market value are:
1. Vistra CORP (VST) — $930.2M (7.4%)
2. ASML Holding N.V. (ASML) — $865.3M (6.9%)
3. Carpenter Technology (CRS) — $716.5M (5.7%)
4. Lpl Financial Holdings INC (LPLA) — $616.7M (4.9%)
5. Applovin Corp-class A (APP) — $583.0M (4.7%)
What changes did Lone Pine Capital LLC make in its most recent portfolio filing?
In the latest reported quarter, Lone Pine Capital LLC made 43 notable position adjustments: 11 new positions were initiated, 14 existing holdings were added to, 11 positions were partially reduced, and 7 were completely exited. The largest of these moves: Sold out: Broadcom INC (AVGO); Sold out: Microsoft CORP (MSFT); Sold out: Doordash INC - A (DASH); Sold out: Amazon.com INC (AMZN); New buy: Teradyne INC (TER)
What sectors does Lone Pine Capital LLC focus on?
Lone Pine Capital LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 30.7%
• Financials: 22.3%
• Industrials: 16.4%
• Utilities: 12.6%
• Health Care: 6.4%
• Consumer Staples: 5.8%
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