Lone Pine Capital

Q3 2022 13F · by David Craver, CIO

As of: Sep 30, 2022
Filed: Nov 14, 2022
US stock: $10.6B · prev $10.6B
Positions: 30 · prev 29
Options notional: $2M
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves27 since the prior filing

+17.4 pp in · −19.4 pp out

New 7 +13.60 pp
Added 4 +3.84 pp
Trimmed 10 −6.86 pp
Exited 6 −12.50 pp

The book

Focused · behaves like 21 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 73% a year, about 1.4 years per position

Low
Moderate
High

Top 5 positions34% of US stock

WDAY Workday, Inc. Class A held held7.2%
AMZN Amazon.Com Inc trimmed−1.87 pp trimmed−1.877.1%
PYPL PayPal Holdings, Inc. added+3.91 pp added+3.916.7%
BBWI Bath & Body Works, Inc. trimmed+0.70 pp trimmed+0.706.3%
MSFT Microsoft Corp trimmed−2.21 pp trimmed−2.216.2%

Positions30 in this filing · 6 exited


WDAYWorkday, Inc. Class A	7.20%	5,019,190	$764M	held	—	7 q
AMZNAmazon.Com Inc	7.12%	6,686,898	$756M	trimmed−26%	−1.87 pp	20 q
PYPLPayPal Holdings, Inc.	6.73%	8,294,340	$714M	added+93%	+3.91 pp	2 q
BBWIBath & Body Works, Inc.	6.34%	20,630,231	$673M	trimmed−7%	+0.70 pp	11 q
MSFTMicrosoft Corp	6.22%	2,832,272	$660M	trimmed−19%	−2.21 pp	22 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	6.21%	9,608,670	$659M	added+8%	−0.68 pp	3 q
DKSDick's Sporting Goods, Inc.	4.95%	5,015,154	$525M	held	—	3 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	4.47%	939,456	$474M	added+17%	+0.59 pp	22 q
EPAMEpam Systems, Inc.	4.24%	1,243,044	$450M	trimmed−2%	+0.72 pp	2 q
TMOThermo Fisher Scientific, Inc.	4.23%	885,326	$449M	trimmed−5%	−0.54 pp	3 q
MAMastercard Incorporated	4.14%	1,544,912	$439M	held	—	4 q
RHRh	4.11%	1,773,069	$436M	held	—	6 q
LPLALPL Financial Holdings Inc.	4.08%	1,980,362	$433M	trimmed−13%	+0.10 pp	2 q
BKNGBooking Holdings Inc.	3.93%	253,570	$417M	added+7%	+0.02 pp	2 q
ADSKAutodesk Inc	3.91%	2,221,479	$415M	new	+3.91 pp	new
METAMeta Platforms, Inc. Class A	3.73%	2,913,821	$395M	trimmed−42%	−3.89 pp	3 q
TDGTransDigm Group Incorporated	3.65%	737,523	$387M	new	+3.65 pp	new
VVISA Inc.	3.62%	2,161,028	$384M	held	—	4 q
PTCPtc, Inc	2.48%	2,519,988	$264M	new	+2.48 pp	new
IBNICICI Bank Limited	2.31%	11,692,652	$245M	new	+2.31 pp	new
EQTEqt Corp	2.28%	5,935,782	$242M	trimmed−7%	+0.22 pp	2 q
HDBHDFC Bank Limited	1.22%	2,223,010	$130M	new	+1.22 pp	new
MQMarqeta, Inc. Class A	1.11%	16,609,826	$118M	held	—	5 q
SGSweetgreen, Inc.	0.79%	4,556,503	$84M	held	—	4 q
FCNCAFirst Citizens BancShares Inc	0.49%	64,553	$51M	trimmed−30%	−0.07 pp	3 q
AVDXAvidXchange Holdings, Inc.	0.40%	5,080,632	$43M	held	—	4 q
LNGCheniere Energy Inc	0.02%	10,448	$2M	new	+0.02 pp	new
EXEExpand Energy Corporation	0.01%	15,740	$1M	new	+0.01 pp	new
XYZBlock, Inc.	0.01%	23,787	$1M	held	—	9 q
unresolvedGrove Collaborative Hold Inc	0.00%	152,608	$342,000	trimmed−69%	−0.02 pp	2 q
NOWServicenow, Inc.	—	−1,292,399	—	exited	−5.79 pp	—
GOOGLAlphabet Inc. Class A	—	−3,439,820	—	exited	−3.53 pp	—
unresolvedAtlassian Corp Plc	—	−1,619,172	—	exited	−2.86 pp	—
FICOFair Isaac Corporation	—	−42,616	—	exited	−0.16 pp	—
VTEXVtex	—	−5,274,887	—	exited	−0.15 pp	—
SHOPShopify Inc. Class A subordinate voting shares	—	−25,000	—	exited	−0.01 pp	—