Lone Pine Capital
Picture
Moves
Options: 7 moves on a notional base, in the table below.
The book
- Very concentrated
- Concentrated
- Focused
- Diversified
- Low
- Moderate
- High
Top 5 positions
- added+0.54
- trimmed+0.35
- added+0.54
- new+4.36
Positions
| DGDollar General Corp. | 5.22% | 18,904,632 | $1.1B | added+7% | +0.54 pp | 3 q |
| CTSHCognizant Technology Solutions | 4.96% | 10,742,645 | $1.1B | trimmed−10% | +0.35 pp | 3 q |
| unresolvedPriceline Grp Inc | 4.71% | 884,756 | $1.0B | trimmed−9% | +0.11 pp | 3 q |
| BIDUBaidu, Inc. | 4.39% | 5,393,588 | $959M | added+2% | +0.54 pp | 2 q |
| MSFTMicrosoft Corp | 4.36% | 25,474,910 | $953M | new | +4.36 pp | new |
| unresolvedValeant Pharmaceuticals Intl | 4.17% | 7,756,485 | $911M | trimmed−0% | +0.36 pp | 3 q |
| QCOMQualcomm Inc | 3.70% | 10,886,598 | $808M | trimmed−18% | −0.51 pp | 3 q |
| GAPThe Gap, Inc. | 3.68% | 20,570,171 | $804M | trimmed−8% | −0.54 pp | 3 q |
| MAMastercard Incorporated | 3.63% | 950,596 | $794M | added+36% | +1.42 pp | 2 q |
| unresolvedCrwn Castle Int'l Corp. | 3.48% | 10,367,263 | $761M | added+64% | +1.31 pp | 3 q |
| unresolvedTwenty First Centy Fox Inc | 3.28% | 20,406,235 | $718M | added+9% | +0.34 pp | 2 q |
| unresolvedMonsanto Co | 3.11% | 5,830,407 | $680M | trimmed−38% | −1.47 pp | 3 q |
| HOUSAnywhere Real Estate Inc. | 2.81% | 12,430,198 | $615M | added+4% | +0.39 pp | 3 q |
| DVADaVita Inc. | 2.46% | 8,470,777 | $537M | added+34% | +0.78 pp | 2 q |
| FLTCorpay, Inc. | 2.34% | 4,357,596 | $511M | trimmed−4% | −0.02 pp | 3 q |
| unresolvedMichael Kors Hldgs Ltd | 2.27% | 6,111,431 | $496M | trimmed−36% | −1.08 pp | 3 q |
| ICEIntercontinental Exchange Inc. | 2.26% | 2,199,424 | $495M | new | +2.26 pp | new |
| unresolvedSBA Comms Corp | 2.24% | 5,456,548 | $490M | new | +2.24 pp | new |
| ULTAUlta Beauty, Inc. | 2.12% | 4,809,126 | $464M | added+2% | −0.54 pp | 3 q |
| WYNTravel + Leisure Co. | 2.12% | 6,282,391 | $463M | added+10% | +0.49 pp | 3 q |
| DLTRDollar Tree Inc. | 2.10% | 8,128,196 | $459M | added+6% | +0.05 pp | 3 q |
| TDGTransDigm Group Incorporated | 2.04% | 2,768,629 | $446M | added+8% | +0.38 pp | 3 q |
| LBTYKLiberty Global Ltd. Class C | 2.00% | 5,184,770 | $437M | added+31% | +0.60 pp | 3 q |
| unresolvedMcGraw Hill | 1.94% | 5,423,331 | $424M | new | +1.94 pp | new |
| AXPAmerican Express Company | 1.82% | 4,392,879 | $399M | trimmed−30% | −0.39 pp | 3 q |
| LBTYALiberty Global Ltd. Class A | 1.82% | 4,459,542 | $397M | added+39% | +0.63 pp | 3 q |
| unresolvedB/E Aerospace Inc | 1.76% | 4,418,185 | $385M | trimmed−7% | +0.12 pp | 3 q |
| VRSNVeriSign Inc | 1.74% | 6,344,858 | $379M | added+30% | +0.57 pp | 3 q |
| unresolvedCoach Inc | 1.66% | 6,481,247 | $364M | held | — | 3 q |
| unresolvedMead Johnson Nut'n Co | 1.36% | 3,560,693 | $298M | trimmed−46% | −0.95 pp | 3 q |
| unresolvedDsw Inc | 1.34% | 6,861,538 | $293M | added×2.3 | +0.15 pp | 3 q |
| unresolvedEndo Health Sol'ns Inc. | 1.34% | 4,340,000 | $293M | new | +1.34 pp | new |
| CMECME Group Inc. | 1.30% | 3,614,948 | $284M | trimmed−36% | −0.65 pp | 3 q |
| unresolvedKinder Morgan Inc DEL | 1.30% | 69,913,434 | $284M | trimmed−3% | −0.39 pp | 3 q |
| SEMGSemgroup Corp-class A | 1.17% | 3,906,318 | $255M | held | — | 3 q |
| WDAYWorkday, Inc. Class A | 1.17% | 3,085,065 | $257M | trimmed−12% | −0.17 pp | 3 q |
| unresolvedSolarwinds Inc | 1.16% | 6,698,396 | $253M | added+17% | +0.22 pp | 2 q |
| OIIOceaneering International Inc. | 1.13% | 3,125,494 | $247M | added+2% | −0.04 pp | 3 q |
| unresolvedLiberty Media Corp Delaware | 1.02% | 1,521,783 | $223M | trimmed−6% | −0.09 pp | 3 q |
| METAMeta Platforms, Inc. Class A | 0.75% | 3,000,441 | $164M | trimmed−61% | −1.05 pp | 3 q |
| unresolvedTowers Watson & Co. | 0.64% | 1,098,124 | $140M | new | +0.64 pp | new |
| ASMLASML Holding NV | 0.52% | 1,201,866 | $113M | added+16% | +0.04 pp | 3 q |
| unresolvedCharter Comm's Inc | 0.48% | 774,527 | $106M | trimmed−60% | −0.75 pp | 3 q |
| LOWLowe's Companies Inc. | 0.48% | 2,114,588 | $105M | held | — | 2 q |
| PRKSUnited Parks & Resorts Inc. | 0.40% | 3,058,260 | $88M | added+76% | +0.16 pp | 2 q |
| unresolvedLumber Liquidators Hldgs Inc | 0.23% | 494,858 | $51M | new | +0.23 pp | new |
| EBAYeBay Inc | — | −10,922,795 | — | exited | −2.86 pp | — |
| unresolvedEquinix Inc | — | −2,167,116 | — | exited | −1.87 pp | — |
| KMIKinder Morgan, Inc. | — | −10,913,487 | — | exited | −1.82 pp | — |
| unresolvedGoogle Inc. | — | −407,784 | — | exited | −1.68 pp | — |
| OCNOnity Group Inc. | — | −5,277,270 | — | exited | −1.38 pp | — |
| unresolvedPandora Media Inc | — | −10,085,216 | — | exited | −1.19 pp | — |
| AMZNAmazon.Com Inc | — | −773,737 | — | exited | −1.14 pp | — |
| VVISA Inc. | — | −1,243,515 | — | exited | −1.12 pp | — |
| GRFSGrifois, S.A. | — | −4,453,500 | — | exited | −0.63 pp | — |
| HRBH&R Block, Inc. | — | −2,303,844 | — | exited | −0.29 pp | — |
| unresolvedCanadian Pac Ry Ltd | — | −161,132 | — | exited | −0.09 pp | — |
Other 13(f) securities
Options
| Contract | % of notional | Shares | Notional |
|---|---|---|---|
| Barclays Bk PLC PUT | 30.51% | 9,990,000 | $425M |
| United States Natl Gas Fund PUT | 24.50% | 16,500,000 | $341M |
| CME CALL | 11.26% | 2,000,000 | $157M |
| AXP CALL | 10.87% | 1,670,000 | $152M |
| QCOM CALL | 9.18% | 1,722,000 | $128M |
| SHLD PUT | 8.00% | 2,273,500 | $111M |
| MSFT CALL | 4.43% | 1,650,000 | $62M |
| ICE CALL | 0.98% | 60,600 | $14M |
| Soufun Holdings Ltd ADR CALL | 0.27% | 45,000 | $4M |
Notes