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Lone Pine Capital LLC and Third Point LLC: where the books meet

At Q2 2026, 15% of the two 13F books was the same, across 9 stocks both listed, against 8.4% at Q2 2013. Overlap is the smaller of each shared stock’s two weights, added up: the part of one book that could be swapped for the other’s without a trade.

Overlap by quarter
0%18%36%Q2 2013: 8.4%, 6 in bothQ3 2013: 11%, 6 in bothQ4 2013: 8.8%, 5 in bothQ1 2014: 9.1%, 5 in both14Q2 2014: 8.4%, 6 in bothQ3 2014: 6.3%, 5 in bothQ4 2014: 4.2%, 3 in bothQ1 2015: 5.4%, 4 in both15Q2 2015: 6.3%, 6 in bothQ3 2015: 7.1%, 4 in bothQ4 2015: 5.6%, 4 in bothQ1 2016: 15%, 8 in both16Q2 2016: 24%, 11 in bothQ3 2016: 19%, 10 in bothQ4 2016: 15%, 7 in bothQ1 2017: 16%, 7 in both17Q2 2017: 18%, 5 in bothQ3 2017: 18%, 5 in bothQ4 2017: 17%, 4 in bothQ1 2018: 22%, 10 in both18Q2 2018: 21%, 8 in bothQ3 2018: 17%, 6 in bothQ4 2018: 14%, 5 in bothQ1 2019: 12%, 6 in both19Q2 2019: 11%, 5 in bothQ3 2019: 14%, 5 in bothQ4 2019: 11%, 5 in bothQ1 2020: 13%, 3 in both20Q2 2020: 18%, 5 in bothQ3 2020: 16%, 6 in bothQ4 2020: 12%, 7 in bothQ1 2021: 10%, 6 in both21Q2 2021: 12%, 7 in bothQ3 2021: 12%, 6 in bothQ4 2021: 14%, 4 in bothQ1 2022: 5.4%, 3 in both22Q2 2022: 5.9%, 2 in bothQ3 2022: 12%, 3 in bothQ4 2022: 18%, 3 in bothQ1 2023: 18%, 5 in both23Q2 2023: 25%, 5 in bothQ3 2023: 24%, 6 in bothQ4 2023: 25%, 5 in bothQ1 2024: 30%, 6 in both24Q2 2024: 33%, 7 in bothQ3 2024: 28%, 6 in bothQ4 2024: 31%, 9 in bothQ1 2025: 26%, 8 in both25Q2 2025: 36%, 10 in bothQ3 2025: 30%, 10 in bothQ4 2025: 26%, 9 in bothQ1 2026: 18%, 8 in both26Q2 2026: 15%, 9 in both
  • Q2 2013: 8.4%, 6 in both
  • Q3 2013: 11%, 6 in both
  • Q4 2013: 8.8%, 5 in both
  • Q1 2014: 9.1%, 5 in both
  • Q2 2014: 8.4%, 6 in both
  • Q3 2014: 6.3%, 5 in both
  • Q4 2014: 4.2%, 3 in both
  • Q1 2015: 5.4%, 4 in both
  • Q2 2015: 6.3%, 6 in both
  • Q3 2015: 7.1%, 4 in both
  • Q4 2015: 5.6%, 4 in both
  • Q1 2016: 15%, 8 in both
  • Q2 2016: 24%, 11 in both
  • Q3 2016: 19%, 10 in both
  • Q4 2016: 15%, 7 in both
  • Q1 2017: 16%, 7 in both
  • Q2 2017: 18%, 5 in both
  • Q3 2017: 18%, 5 in both
  • Q4 2017: 17%, 4 in both
  • Q1 2018: 22%, 10 in both
  • Q2 2018: 21%, 8 in both
  • Q3 2018: 17%, 6 in both
  • Q4 2018: 14%, 5 in both
  • Q1 2019: 12%, 6 in both
  • Q2 2019: 11%, 5 in both
  • Q3 2019: 14%, 5 in both
  • Q4 2019: 11%, 5 in both
  • Q1 2020: 13%, 3 in both
  • Q2 2020: 18%, 5 in both
  • Q3 2020: 16%, 6 in both
  • Q4 2020: 12%, 7 in both
  • Q1 2021: 10%, 6 in both
  • Q2 2021: 12%, 7 in both
  • Q3 2021: 12%, 6 in both
  • Q4 2021: 14%, 4 in both
  • Q1 2022: 5.4%, 3 in both
  • Q2 2022: 5.9%, 2 in both
  • Q3 2022: 12%, 3 in both
  • Q4 2022: 18%, 3 in both
  • Q1 2023: 18%, 5 in both
  • Q2 2023: 25%, 5 in both
  • Q3 2023: 24%, 6 in both
  • Q4 2023: 25%, 5 in both
  • Q1 2024: 30%, 6 in both
  • Q2 2024: 33%, 7 in both
  • Q3 2024: 28%, 6 in both
  • Q4 2024: 31%, 9 in both
  • Q1 2025: 26%, 8 in both
  • Q2 2025: 36%, 10 in both
  • Q3 2025: 30%, 10 in both
  • Q4 2025: 26%, 9 in both
  • Q1 2026: 18%, 8 in both
  • Q2 2026: 15%, 9 in both

Only quarters both managers filed. Where either filing has more positions than are read each quarter, a stock both hold below that range is not counted, so the figure is a floor.

What the overlap is made of, Q2 2026

Stocks both listed, by the smaller of the two weights. A weight is the stock’s share of that manager’s reported book, which says how large the position is, not how strongly it is held.

StockLone Pine Capital LLCThird Point LLC
Hut 8 Corp(HUT)4.1%Trimmed3.2%Added
Carpenter Technology Corp(CRS)3.6%Trimmed2.8%Trimmed
Mastec Inc(MTZ)3.4%Trimmed2.6%Trimmed
TTM Technologies Inc(TTMI)3.1%New2.0%New
Performance Food Group Co(PFGC)4.0%Added1.6%New
Asml Holding N V(ASML)6.9%Trimmed1.3%Added
Alphabet Inc(GOOGL)0.5%Added7.8%Added
Taiwan Semiconductor MFG LTD(TSM)0.3%Trimmed4.7%Added
Transdigm Group Inc(TDG)0.2%Trimmed2.2%Added

Moved different ways in Q2 2026

Stocks one manager started or added to while the other trimmed or sold out, between the same two quarter ends. A 13F shows the quarter ends, never when in between anything was bought or sold, or why.

  • Asml Holding N V(ASML)Lone Pine Capital LLC trimmed; Third Point LLC added
  • Hut 8 Corp(HUT)Lone Pine Capital LLC trimmed; Third Point LLC added
  • Capital One Finl Corp(COF)Lone Pine Capital LLC sold out; Third Point LLC added
  • Taiwan Semiconductor MFG LTD(TSM)Lone Pine Capital LLC trimmed; Third Point LLC added
  • Transdigm Group Inc(TDG)Lone Pine Capital LLC trimmed; Third Point LLC added
Lone Pine Capital LLC: the recordThird Point LLC: the record

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