Lone Pine Capital
Picture
Moves
Options: 4 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. | 7.14% | 8,188,393 | $1.8B | trimmed−8% | +0.20 pp | 5 q |
| unresolvedValeant Pharmaceuticals Intl | 5.76% | 10,985,940 | $1.4B | added+9% | +0.46 pp | 6 q |
| unresolvedMichael Kors Hldgs Ltd | 4.55% | 15,954,399 | $1.1B | added+38% | +0.29 pp | 6 q |
| MAMastercard Incorporated | 4.45% | 15,082,787 | $1.1B | added+28% | +0.85 pp | 5 q |
| MSFTMicrosoft Corp | 4.14% | 22,335,690 | $1.0B | trimmed−15% | −0.44 pp | 4 q |
| unresolvedSBA Comms Corp | 3.84% | 8,670,738 | $962M | trimmed−0% | +0.13 pp | 4 q |
| FLTCorpay, Inc. | 3.74% | 6,589,236 | $936M | added+9% | +0.43 pp | 6 q |
| unresolvedMcGraw Hill | 3.66% | 10,833,547 | $915M | trimmed−13% | −0.66 pp | 4 q |
| unresolvedPriceline Grp Inc | 3.38% | 729,265 | $845M | added+5% | −0.09 pp | 6 q |
| CTSHCognizant Technology Solutions | 3.23% | 18,068,688 | $809M | trimmed−39% | −2.78 pp | 6 q |
| GAPThe Gap, Inc. | 3.21% | 19,265,265 | $803M | held | — | 6 q |
| ADBEAdobe Inc. | 3.17% | 11,467,010 | $793M | trimmed−4% | −0.41 pp | 3 q |
| CMCSAComcast Corp | 2.96% | 13,772,459 | $741M | added+13% | +0.24 pp | 2 q |
| unresolvedCanadian Pac Ry Ltd | 2.91% | 3,507,664 | $728M | trimmed−0% | +0.26 pp | 2 q |
| METAMeta Platforms, Inc. Class A | 2.73% | 8,638,513 | $683M | new | +2.73 pp | new |
| TIFTiffany & Co. | 2.64% | 6,852,021 | $660M | added+62% | +0.87 pp | 3 q |
| unresolvedCrwn Castle Int'l Corp. | 2.52% | 7,845,871 | $632M | trimmed−7% | −0.09 pp | 6 q |
| ULTAUlta Beauty, Inc. | 2.46% | 5,202,611 | $615M | held | — | 6 q |
| unresolvedActavis PLC | 2.39% | 2,478,628 | $598M | held | — | 3 q |
| DGDollar General Corp. | 2.27% | 9,305,845 | $569M | added+31% | +0.57 pp | 6 q |
| unresolvedEquinix Inc | 2.25% | 2,649,060 | $563M | added+15% | +0.24 pp | 3 q |
| LNGCheniere Energy Inc | 2.21% | 6,906,909 | $553M | added×12.2 | +2.04 pp | 2 q |
| WYNNWynn Resorts Ltd | 2.10% | 2,804,989 | $525M | added+35% | +0.31 pp | 3 q |
| HOUSAnywhere Real Estate Inc. | 2.03% | 13,652,898 | $508M | held | — | 6 q |
| unresolvedCharter Comm's Inc | 1.88% | 3,105,814 | $470M | new | +1.88 pp | new |
| MHKMohawk Industries, Inc. | 1.66% | 3,090,081 | $417M | new | +1.66 pp | new |
| LPLALPL Financial Holdings Inc. | 1.57% | 8,518,366 | $392M | held | — | 3 q |
| TDGTransDigm Group Incorporated | 1.32% | 1,786,836 | $329M | added+82% | +0.64 pp | 6 q |
| UAAUnder Armour, Inc. | 1.25% | 4,518,470 | $312M | trimmed−5% | +0.07 pp | 2 q |
| ABBVAbbvie Inc. | 1.21% | 5,247,201 | $303M | new | +1.21 pp | new |
| SAVEQSpirit Airlines, Inc. | 1.18% | 4,262,432 | $295M | added+22% | +0.26 pp | 2 q |
| WSMWilliams-Sonoma, Inc. | 1.17% | 4,390,577 | $292M | added×3.0 | +0.73 pp | 2 q |
| WDAYWorkday, Inc. Class A | 1.16% | 3,516,060 | $290M | held | — | 6 q |
| JAZZJazz Pharmaceuticals, Inc. | 1.15% | 1,788,607 | $287M | trimmed−14% | −0.13 pp | 3 q |
| HUMHumana Inc. | 1.13% | 2,174,122 | $283M | new | +1.13 pp | new |
| unresolvedSolarwinds Inc | 1.09% | 6,516,396 | $274M | held | — | 5 q |
| ICEIntercontinental Exchange Inc. | 1.02% | 1,314,968 | $256M | trimmed−61% | −1.66 pp | 4 q |
| TRIPTripAdvisor, Inc. | 1.01% | 2,771,438 | $253M | added×2.5 | +0.51 pp | 2 q |
| ADSKAutodesk Inc | 0.97% | 4,401,445 | $243M | new | +0.97 pp | new |
| LBTYKLiberty Global Ltd. Class C | 0.73% | 4,460,630 | $183M | trimmed−72% | −2.06 pp | 6 q |
| TWXTime Warner Inc | 0.52% | 1,716,105 | $129M | new | +0.52 pp | new |
| ANETArista Networks | 0.25% | 722,282 | $64M | added+37% | +0.11 pp | 2 q |
| unresolvedTwenty First Centy Fox Inc | — | −16,045,522 | — | exited | −2.35 pp | — |
| ANAutoNation, Inc. | — | −5,067,310 | — | exited | −1.26 pp | — |
| OIIOceaneering International Inc. | — | −3,809,894 | — | exited | −1.24 pp | — |
| LBTYALiberty Global Ltd. Class A | — | −6,519,720 | — | exited | −1.20 pp | — |
| WMBWilliams Companies Inc. | — | −4,895,000 | — | exited | −1.19 pp | — |
| unresolvedSoufun Holdings Ltd ADR | — | −25,361,965 | — | exited | −1.03 pp | — |
| JDJD.com, Inc. | — | −8,405,200 | — | exited | −1.00 pp | — |
| unresolvedLumber Liquidators Hldgs Inc | — | −2,619,839 | — | exited | −0.83 pp | — |
| AALAmerican Airlines Group Inc. | — | −2,684,674 | — | exited | −0.48 pp | — |
| CTRPTrip.com Group Limited | — | −1,158,913 | — | exited | −0.31 pp | — |
| IBNICICI Bank Limited | — | −659,729 | — | exited | −0.14 pp | — |
Other 13(f) securities
Options
| Contract | % of notional | Shares | Notional |
|---|---|---|---|
| Barclays Bk PLC PUT | 34.76% | 6,300,000 | $196M |
| CMCSA CALL | 17.41% | 1,830,000 | $98M |
| INTC PUT | 14.29% | 2,320,000 | $81M |
| GAP CALL | 12.84% | 1,741,200 | $73M |
| SHLD PUT | 12.41% | 2,987,500 | $70M |
| ICE CALL | 8.28% | 240,000 | $47M |
Notes