Lone Pine Capital LLC
The positions Lone Pine Capital LLC reported on its Form 13F for Q2 2026, the quarter ending 30 Jun 2026, filed on 14 Aug 2026. Every figure below is the filing’s own: US-listed long equity, valued at the quarter end, with the change measured against the same manager’s previous filing.
Opened this quarter
A new position is the clearest thing a filing says. Somebody argued for it recently, and it is the easiest question to be ready for.
- Nebius Group N.v. (NBIS)$1.2bn · 7.2%
- Seagate Technology Hldngs PL$965m · 5.9%
- Home Depot Inc (HD)$918m · 5.6%
- Applied Matls Inc$873m · 5.3%
- Linde PLC (LIN)$809m · 4.9%
- TTM Technologies Inc (TTMI)$512m · 3.1%
- Sterling Infrastructure Inc (STRL)$512m · 3.1%
- On HLDG AG$470m · 2.9%
- Bitdeer Technologies Group (BTDR)$111m · 0.7%
- Sharonai Holdings Inc$102m · 0.6%
- Kodiak Gas SVCS Inc$64m · 0.4%
- Interactive Brokers Group In$50m · 0.3%
- and 1 more, in the table below.
Sold out of this quarter
Exits are valued at what the position was worth in the previous filing, because by this one it is gone.
- Vistra Corp (VST)$930m held before
- Talen Energy Corp (TLN)$580m held before
- Clean Harbors Inc (CLH)$503m held before
- Tenet Healthcare Corp (THC)$426m held before
- Capital One Finl Corp$414m held before
- Entegris Inc (ENTG)$365m held before
- Ciena Corp (CIEN)$314m held before
- Vulcan Matls Co$39m held before
- Spotify Technology S A (SPOT)$33m held before
- Mastercard Incorporated (MA)$29m held before
- Amphenol Corp$28m held before
- Hilton Worldwide HLDGS Inc$27m held before
- and 3 more.
Every reported position, Q2 2026
34 positions, sorted by weight
| Position | Weight ↓ | Value | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
Nebius Group N.v. (NBIS) SHS CLASS A · CUSIP N97284108 | 7.2% | $1.2bn | 4,258,008 | No earlier filing | New |
Asml HLDG NV N Y REGISTRY SHS · CUSIP N07059210 | 6.9% | $1.1bn | 569,174 | +$267m -85,974 shares | Trimmed |
Seagate Technology Hldngs PL ORD SHS · CUSIP G7997R103 | 5.9% | $965m | 1,000,109 | No earlier filing | New |
Home Depot Inc (HD) COM · CUSIP 437076102 | 5.6% | $918m | 2,603,189 | No earlier filing | New |
Applied Matls Inc COM · CUSIP 038222105 | 5.3% | $873m | 1,207,737 | No earlier filing | New |
Medline Inc (MDLN) COM CL A · CUSIP 58507V107 | 5.1% | $827m | 20,968,367 | +$302m +9,179,211 shares | Added |
Linde PLC (LIN) SHS · CUSIP G54950103 | 4.9% | $809m | 1,558,081 | No earlier filing | New |
Teradyne Inc (TER) COM · CUSIP 880770102 | 4.4% | $722m | 1,493,080 | +$167m -379,796 shares | Trimmed |
Corning Inc COM · CUSIP 219350105 | 4.3% | $697m | 2,728,058 | +$191m -990,089 shares | Trimmed |
Carvana Co (CVNA) CL A · CUSIP 146869102 | 4.2% | $693m | 10,520,666 | +$141m +8,765,957 shares | Added |
Hut 8 Corp (HUT) COM · CUSIP 44812J104 | 4.1% | $667m | 5,773,045 | +$381m -305,906 shares | Trimmed |
Performance Food Group Co (PFGC) COM · CUSIP 71377A103 | 4.0% | $654m | 5,852,740 | +$314m +1,874,582 shares | Added |
Nu HLDGS LTD ORD SHS CL A · CUSIP G6683N103 | 3.9% | $631m | 47,219,717 | +$85m +9,208,492 shares | Added |
Terawulf Inc (WULF) COM · CUSIP 88080T104 | 3.6% | $596m | 24,144,625 | +$309m +4,223,195 shares | Added |
Carpenter Technology Corp (CRS) COM · CUSIP 144285103 | 3.6% | $594m | 962,839 | -$123m -855,101 shares | Trimmed |
Mastec Inc (MTZ) COM · CUSIP 576323109 | 3.4% | $560m | 1,345,157 | +$67m -185,893 shares | Trimmed |
Applovin Corp (APP) COM CL A · CUSIP 03831W108 | 3.3% | $537m | 1,042,268 | -$46m -422,655 shares | Trimmed |
TTM Technologies Inc (TTMI) COM · CUSIP 87305R109 | 3.1% | $512m | 2,738,075 | No earlier filing | New |
Sterling Infrastructure Inc (STRL) COM · CUSIP 859241101 | 3.1% | $512m | 609,643 | No earlier filing | New |
US Foods HLDG Corp COM · CUSIP 912008109 | 3.1% | $503m | 4,914,492 | +$153m +1,118,494 shares | Added |
On HLDG AG NAMEN AKT A · CUSIP H5919C104 | 2.9% | $470m | 13,280,030 | No earlier filing | New |
LPL Finl HLDGS Inc COM · CUSIP 50212V100 | 2.1% | $343m | 1,219,099 | -$273m -830,868 shares | Trimmed |
Argan Inc (AGX) COM · CUSIP 04010E109 | 1.8% | $294m | 368,673 | +$80m -24,461 shares | Trimmed |
Bitdeer Technologies Group (BTDR) CL A ORD SHS · CUSIP G11448100 | 0.7% | $111m | 7,020,026 | No earlier filing | New |
Sharonai Holdings Inc COM CL A · CUSIP 778920306 | 0.6% | $102m | 1,209,848 | No earlier filing | New |
Alphabet Inc CAP STK CL A · CUSIP 02079K305 | 0.5% | $77m | 215,574 | +$23m +28,013 shares | Added |
Kodiak Gas SVCS Inc COM · CUSIP 50012A108 | 0.4% | $64m | 845,070 | No earlier filing | New |
Visa Inc (V) COM CL A · CUSIP 92826C839 | 0.3% | $57m | 165,960 | +$29m +73,185 shares | Added |
Interactive Brokers Group In COM CL A · CUSIP 45841N107 | 0.3% | $50m | 577,666 | No earlier filing | New |
Taiwan Semiconductor Manufac SPONSORED ADS · CUSIP 874039100 | 0.3% | $48m | 101,242 | -$421m -1,288,288 shares | Trimmed |
Sea LTD SPONSORD ADS · CUSIP 81141R100 | 0.3% | $47m | 494,581 | No earlier filing | New |
Mckesson Corp (MCK) COM · CUSIP 58155Q103 | 0.3% | $44m | 57,851 | -$296m -334,373 shares | Trimmed |
Transdigm Group Inc (TDG) COM · CUSIP 893641100 | 0.2% | $38m | 28,532 | -$3.3m -7,145 shares | Trimmed |
Brookfield Corp CL A LTD VT SH · CUSIP 11271J107 | 0.2% | $34m | 792,717 | -$420m -10,416,252 shares | Trimmed |
Every filing on file
| Quarter | Period end | Filed | Book | Positions | Top 10 | Filing |
|---|---|---|---|---|---|---|
| Q2 2026 | 30 Jun 2026 | 14 Aug 2026 | $16.4bn | 34 | 54% | 13F-HR |
| Q1 2026 | 31 Mar 2026 | 15 May 2026 | $12.5bn | 36 | 52% | 13F-HR |
| Q4 2025 | 31 Dec 2025 | 17 Feb 2026 | $13.6bn | 32 | 52% | 13F-HR |
| Q3 2025 | 30 Sept 2025 | 14 Nov 2025 | $13.7bn | 25 | 56% | 13F-HR |
| Q2 2025 | 30 Jun 2025 | 14 Aug 2025 | $14.1bn | 24 | 61% | 13F-HR |
| Q1 2025 | 31 Mar 2025 | 15 May 2025 | $11.6bn | 24 | 60% | 13F-HR |
| Q4 2024 | 31 Dec 2024 | 14 Feb 2025 | $13.5bn | 30 | 56% | 13F-HR |
| Q3 2024 | 30 Sept 2024 | 14 Nov 2024 | $13.4bn | 29 | 55% | 13F-HR |
Taking this into the room
Pick one name from the top of the book and one from the new positions, and know both properly: what the company earns, what it is priced at, and what has to be true for the position to work. That is a conversation. Reciting the whole table is not, and the interviewer wrote it.
A position sold out of is worth as much preparation as one opened. Ask what changed rather than asserting the fund was wrong, and be ready for the answer that the thesis played out and the money went somewhere better.
What this filing leaves out
A 13F covers US-listed long equity at one moment in time. Shorts, bonds, cash, private positions and non-US listings never appear, and options are reported in a form that will mislead you if you read them as a position. A long/short manager showing $8bn here may run a book several times that size.
The lag matters too. Positions are as at the quarter end and the filing arrives up to forty-five days later, so what you are reading is at least six weeks old and possibly four months. Phrase it as what the filing showed, not what the fund holds today.
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