Lone Pine Capital 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Lone Pine Capital disclosed 32 US equity positions worth $13.6bn in its Q4 2025 13F filing. The largest position was TSM at 6.8% of the reported book, followed by VST and CVNA. Against the Q3 2025 filing, it opened 14 new positions, added to 10 and reduced 7 among the top 32 holdings.
What did Lone Pine Capital own in Q4 2025? Top 32 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | TSM TAIWAN SEMICONDUCTOR MFG LTD | Technology | 6.8% | $927.6m | 3,052,400 | 0% | held |
| 2 | VST VISTRA CORP | Utilities | 6.2% | $840.8m | 5,211,885 | 11% | added |
| 3 | CVNA CARVANA CO | Consumer Cyclical | 5.5% | $750.9m | 1,779,328 | 1% | added |
| 4 | LPLA LPL FINL HLDGS INC | Financial Services | 5.4% | $741.1m | 2,074,948 | -8% | reduced |
| 5 | BN BROOKFIELD CORP | Financial Services | 5.4% | $730.7m | 15,923,360 | 56% | added |
| 6 | ASML ASML HOLDING N V | Technology | 4.8% | $647.3m | 605,017 | – | new |
| 7 | KKR KKR & CO INC | Financial Services | 4.7% | $637.5m | 5,001,085 | 23% | added |
| 8 | AVGO BROADCOM INC | Technology | 4.4% | $598.8m | 1,730,216 | 12% | added |
| 9 | MSFT MICROSOFT CORP | Technology | 4.4% | $596.8m | 1,234,125 | 2% | added |
| 10 | DASH DOORDASH INC | Consumer Cyclical | 4.2% | $573.0m | 2,529,879 | – | new |
| 11 | AMZN AMAZON COM INC | Consumer Cyclical | 4.1% | $557.3m | 2,414,520 | -14% | reduced |
| 12 | COF CAPITAL ONE FINL CORP | Financial Services | 4.1% | $556.2m | 2,294,891 | -11% | reduced |
| 13 | APP APPLOVIN CORP | Communication Services | 3.9% | $525.9m | 780,530 | -30% | reduced |
| 14 | NU NU HLDGS LTD | Financial Services | 3.6% | $496.0m | 29,630,237 | 17% | added |
| 15 | MDLN MEDLINE INC | Healthcare | 3.6% | $492.1m | 11,716,697 | – | new |
| 16 | TLN TALEN ENERGY CORP | Utilities | 3.6% | $484.5m | 1,292,516 | 8% | added |
| 17 | VMC VULCAN MATLS CO | Basic Materials | 3.5% | $480.3m | 1,683,932 | 22% | added |
| 18 | PM PHILIP MORRIS INTL INC | Consumer Defensive | 3.1% | $424.0m | 2,643,579 | -43% | reduced |
| 19 | CRS CARPENTER TECHNOLOGY CORP | Industrials | 3.0% | $413.4m | 1,312,938 | – | new |
| 20 | WING WINGSTOP INC | Consumer Cyclical | 2.8% | $380.5m | 1,595,258 | 7% | added |
| 21 | APH AMPHENOL CORP NEW | Technology | 2.8% | $379.7m | 2,809,773 | -7% | reduced |
| 22 | THC TENET HEALTHCARE CORP | Healthcare | 2.6% | $355.2m | 1,787,326 | – | new |
| 23 | CLH CLEAN HARBORS INC | Industrials | 2.4% | $323.1m | 1,378,125 | – | new |
| 24 | AFRM AFFIRM HLDGS INC | Financial Services | 2.1% | $284.1m | 3,817,170 | – | new |
| 25 | ENTG ENTEGRIS INC | Technology | 1.9% | $257.3m | 3,054,230 | – | new |
| 26 | MA MASTERCARD INCORPORATED | Financial Services | 0.4% | $55.0m | 96,338 | – | new |
| 27 | TDG TRANSDIGM GROUP INC | Industrials | 0.2% | $25.6m | 19,228 | – | new |
| 28 | BKNG BOOKING HOLDINGS INC | Consumer Cyclical | 0.2% | $24.8m | 4,630 | -85% | reduced |
| 29 | BSX BOSTON SCIENTIFIC CORP | Healthcare | 0.1% | $19.2m | 201,703 | – | new |
| 30 | HLT HILTON WORLDWIDE HLDGS INC | Consumer Cyclical | 0.1% | $16.6m | 57,817 | – | new |
| 31 | SPOT SPOTIFY TECHNOLOGY S A | Communication Services | 0.1% | $10.3m | 17,762 | – | new |
| 32 | V VISA INC | Financial Services | 0.0% | $5.3m | 15,217 | – | new |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.