Lone Pine Capital
Picture
Moves
Options: 9 moves on a notional base, in the table below.
The book
- Very concentrated
- Concentrated
- Focused
- Diversified
- Low
- Moderate
- High
Top 5 positions
Positions
| BIDUBaidu, Inc. | 6.94% | 8,923,393 | $1.7B | added+14% | +1.59 pp | 4 q |
| CTSHCognizant Technology Solutions | 6.01% | 29,509,835 | $1.4B | added+3% | −0.52 pp | 5 q |
| unresolvedValeant Pharmaceuticals Intl | 5.30% | 10,089,450 | $1.3B | added+14% | +0.08 pp | 5 q |
| MSFTMicrosoft Corp | 4.58% | 26,347,204 | $1.1B | trimmed−6% | −0.59 pp | 3 q |
| unresolvedMcGraw Hill | 4.32% | 12,503,547 | $1.0B | added+14% | +0.55 pp | 3 q |
| unresolvedMichael Kors Hldgs Ltd | 4.26% | 11,525,497 | $1.0B | added+27% | +0.47 pp | 5 q |
| unresolvedSBA Comms Corp | 3.71% | 8,700,738 | $890M | trimmed−3% | +0.05 pp | 3 q |
| MAMastercard Incorporated | 3.60% | 11,766,312 | $864M | added+61% | +1.15 pp | 4 q |
| ADBEAdobe Inc. | 3.58% | 11,889,484 | $860M | added+80% | +1.63 pp | 2 q |
| unresolvedPriceline Grp Inc | 3.47% | 691,646 | $832M | added×2.4 | +1.92 pp | 5 q |
| GAPThe Gap, Inc. | 3.34% | 19,265,265 | $801M | trimmed−3% | −0.25 pp | 5 q |
| FLTCorpay, Inc. | 3.31% | 6,038,616 | $796M | added+11% | +0.49 pp | 5 q |
| LBTYKLiberty Global Ltd. Class C | 2.79% | 15,806,512 | $669M | trimmed−26% | −1.10 pp | 5 q |
| CMCSAComcast Corp | 2.72% | 12,151,289 | $652M | new | +2.72 pp | new |
| ICEIntercontinental Exchange Inc. | 2.68% | 3,403,713 | $643M | added+3% | −0.27 pp | 3 q |
| unresolvedCanadian Pac Ry Ltd | 2.65% | 3,509,269 | $636M | new | +2.65 pp | new |
| unresolvedCrwn Castle Int'l Corp. | 2.61% | 8,425,071 | $626M | trimmed−7% | −0.39 pp | 5 q |
| unresolvedTwenty First Centy Fox Inc | 2.35% | 16,045,522 | $564M | trimmed−20% | −0.52 pp | 4 q |
| unresolvedActavis PLC | 2.30% | 2,478,628 | $553M | added+4% | +0.10 pp | 2 q |
| HOUSAnywhere Real Estate Inc. | 2.14% | 13,652,898 | $515M | added+6% | −0.38 pp | 5 q |
| unresolvedEquinix Inc | 2.01% | 2,299,216 | $483M | added+2% | +0.14 pp | 2 q |
| ULTAUlta Beauty, Inc. | 1.98% | 5,202,611 | $476M | held | — | 5 q |
| WYNNWynn Resorts Ltd | 1.79% | 2,071,053 | $430M | added+75% | +0.61 pp | 2 q |
| TIFTiffany & Co. | 1.77% | 4,238,872 | $425M | added+60% | +0.75 pp | 2 q |
| LPLALPL Financial Holdings Inc. | 1.76% | 8,518,366 | $424M | held | — | 2 q |
| DGDollar General Corp. | 1.70% | 7,109,343 | $408M | trimmed−31% | −0.88 pp | 5 q |
| WDAYWorkday, Inc. Class A | 1.32% | 3,516,060 | $316M | added+18% | +0.09 pp | 5 q |
| JAZZJazz Pharmaceuticals, Inc. | 1.28% | 2,087,127 | $307M | trimmed−11% | −0.18 pp | 2 q |
| ANAutoNation, Inc. | 1.26% | 5,067,310 | $302M | added+27% | +0.31 pp | 2 q |
| OIIOceaneering International Inc. | 1.24% | 3,809,894 | $298M | held | — | 5 q |
| LBTYALiberty Global Ltd. Class A | 1.20% | 6,519,720 | $288M | trimmed−7% | −0.11 pp | 5 q |
| WMBWilliams Companies Inc. | 1.19% | 4,895,000 | $285M | new | +1.19 pp | new |
| UAAUnder Armour, Inc. | 1.18% | 4,748,964 | $283M | new | +1.18 pp | new |
| unresolvedSolarwinds Inc | 1.05% | 6,516,396 | $252M | held | — | 4 q |
| unresolvedSoufun Holdings Ltd ADR | 1.03% | 25,361,965 | $248M | added×5.7 | −0.33 pp | 2 q |
| JDJD.com, Inc. | 1.00% | 8,405,200 | $240M | new | +1.00 pp | new |
| SAVEQSpirit Airlines, Inc. | 0.92% | 3,500,760 | $221M | new | +0.92 pp | new |
| unresolvedLumber Liquidators Hldgs Inc | 0.83% | 2,619,839 | $199M | held | — | 3 q |
| TDGTransDigm Group Incorporated | 0.68% | 979,395 | $164M | trimmed−5% | −0.18 pp | 5 q |
| TRIPTripAdvisor, Inc. | 0.50% | 1,094,087 | $119M | new | +0.50 pp | new |
| AALAmerican Airlines Group Inc. | 0.48% | 2,684,674 | $115M | new | +0.48 pp | new |
| WSMWilliams-Sonoma, Inc. | 0.44% | 1,483,179 | $106M | new | +0.44 pp | new |
| CTRPTrip.com Group Limited | 0.31% | 1,158,913 | $74M | held | — | 2 q |
| LNGCheniere Energy Inc | 0.17% | 567,600 | $41M | new | +0.17 pp | new |
| ANETArista Networks | 0.14% | 529,120 | $33M | new | +0.14 pp | new |
| IBNICICI Bank Limited | 0.14% | 659,729 | $33M | trimmed−88% | −0.99 pp | 2 q |
| unresolvedMonsanto Co | — | −5,767,733 | — | exited | −2.95 pp | — |
| QCOMQualcomm Inc | — | −6,530,923 | — | exited | −2.31 pp | — |
| WYNTravel + Leisure Co. | — | −4,878,718 | — | exited | −1.61 pp | — |
| unresolvedB/E Aerospace Inc | — | −3,404,644 | — | exited | −1.33 pp | — |
| ENDPQEndo International PLC | — | −4,178,703 | — | exited | −1.29 pp | — |
| DVADaVita Inc. | — | −3,655,739 | — | exited | −1.13 pp | — |
| unresolvedDsw Inc | — | −6,953,238 | — | exited | −1.12 pp | — |
| ASMLASML Holding NV | — | −1,356,218 | — | exited | −0.57 pp | — |
| METAMeta Platforms, Inc. Class A | — | −2,000,000 | — | exited | −0.54 pp | — |
| unresolvedCoach Inc | — | −1,569,635 | — | exited | −0.35 pp | — |
| PRKSUnited Parks & Resorts Inc. | — | −2,114,123 | — | exited | −0.29 pp | — |
| NBISNebius Group N.V. Class A | — | −987,950 | — | exited | −0.13 pp | — |
Other 13(f) securities
Options
| Contract | % of notional | Shares | Notional |
|---|---|---|---|
| Barclays Bk PLC PUT | 24.80% | 6,300,000 | $180M |
| BIDU CALL | 20.05% | 780,000 | $146M |
| SHLD PUT | 13.77% | 2,504,400 | $100M |
| CMCSA CALL | 13.52% | 1,830,000 | $98M |
| GAP CALL | 9.96% | 1,741,200 | $72M |
| INTC PUT | 9.87% | 2,320,000 | $72M |
| MSFT CALL | 8.03% | 1,400,000 | $58M |
Notes