Lone Pine Capital

Q2 2026 13F · by David Craver, CIO

As of: Jun 30, 2026
Filed: Aug 14, 2026
US stock: $16.4B · prev $12.5B
Positions: 34 · prev 36
Options notional: $0
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%

Moves49 since the prior filing

+43.7 pp in · −43.7 pp out

New 13 +40.42 pp
Added 8 +3.31 pp
Trimmed 13 −14.04 pp
Exited 15 −29.69 pp

The book

Focused · behaves like 23 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 165% a year, about 0.6 years per position

Low
Moderate
High

Top 5 positions31% of US stock

Positions34 in this filing · 15 exited


NBISNebius Group N.V. Class A	7.19%	4,258,008	$1.2B	new	+7.19 pp	new
ASMLASML Holding NV	6.92%	569,174	$1.1B	trimmed−13%	+0.02 pp	3 q
STXSeagate Technology Holdings PLC (Ireland)	5.90%	1,000,109	$965M	new	+5.90 pp	new
HDHome Depot, Inc.	5.61%	2,603,189	$918M	new	+5.61 pp	new
AMATApplied Materials Inc	5.34%	1,207,737	$873M	new	+5.34 pp	new
MDLNMedline Inc. Class A	5.06%	20,968,367	$827M	added+78%	+0.88 pp	3 q
LINLinde plc	4.94%	1,558,081	$809M	new	+4.94 pp	new
TERTeradyne, Inc.	4.42%	1,493,080	$722M	trimmed−20%	−0.01 pp	2 q
GLWCorning Incorporated	4.26%	2,728,058	$697M	trimmed−27%	+0.23 pp	2 q
CVNACarvana Co.	4.23%	10,520,666	$692M	added+20%	−0.17 pp	6 q
HUTHut 8 Corp.	4.07%	5,773,045	$666M	trimmed−5%	+1.80 pp	2 q
PFGCPerformance Food Group Company	4.00%	5,852,740	$654M	added+47%	+1.28 pp	2 q
NUNu Holdings Ltd.	3.86%	47,219,717	$631M	added+24%	−0.49 pp	4 q
WULFTeraWulf Inc.	3.65%	24,144,625	$596M	added+21%	+1.36 pp	2 q
CRSCarpenter Technology Corp	3.63%	962,839	$594M	trimmed−47%	−2.08 pp	3 q
MTZMasTec, Inc.	3.42%	1,345,157	$560M	trimmed−12%	−0.51 pp	2 q
APPApplovin Corporation Class A	3.28%	1,042,268	$537M	trimmed−29%	−1.37 pp	10 q
STRLSterling Infrastructure, Inc.	3.13%	609,643	$512M	new	+3.13 pp	new
TTMITTM Technologies Inc	3.13%	2,738,075	$512M	new	+3.13 pp	new
USFDUS Foods Holding Corp.	3.07%	4,914,492	$503M	added+29%	+0.28 pp	2 q
ONONOn Holding AG	2.88%	13,280,030	$470M	new	+2.88 pp	new
LPLALPL Financial Holdings Inc.	2.10%	1,219,099	$343M	trimmed−41%	−2.82 pp	17 q
AGXArgan, Inc	1.80%	368,673	$294M	trimmed−6%	+0.09 pp	2 q
BTDRBitdeer Technologies Group Class A	0.68%	7,020,026	$111M	new	+0.68 pp	new
SHAZSharonAI Holdings, Inc. Class A	0.63%	1,209,848	$102M	new	+0.63 pp	new
GOOGLAlphabet Inc. Class A	0.47%	215,574	$77M	added+15%	+0.04 pp	2 q
KGSKodiak Gas Services, Inc.	0.39%	845,070	$63M	new	+0.39 pp	new
VVISA Inc.	0.35%	165,960	$57M	added+79%	+0.13 pp	3 q
IBKRInteractive Brokers Group, Inc. Class A	0.31%	577,666	$50M	new	+0.31 pp	new
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.30%	101,242	$48M	trimmed−93%	−3.44 pp	18 q
SESea Limited	0.29%	494,581	$47M	new	+0.29 pp	new
MCKMcKesson Corporation	0.27%	57,851	$44M	trimmed−85%	−2.44 pp	2 q
TDGTransDigm Group Incorporated	0.23%	28,532	$38M	trimmed−20%	−0.10 pp	3 q
BNBrookfield Corporation	0.21%	792,717	$34M	trimmed−93%	−3.41 pp	5 q
VSTVistra Corp.	—	−6,187,585	—	exited	−7.42 pp	—
TLNTalen Energy Corporation	—	−1,817,947	—	exited	−4.63 pp	—
CLHClean Harbors, Inc	—	−1,754,950	—	exited	−4.01 pp	—
THCTenet Healthcare Corporation New	—	−2,258,717	—	exited	−3.40 pp	—
COFCapital One Financial	—	−2,267,056	—	exited	−3.30 pp	—
ENTGEntegris Inc	—	−3,115,054	—	exited	−2.91 pp	—
CIENCiena Corporation	—	−809,522	—	exited	−2.51 pp	—
VMCVulcan Materials Company(Holding Company)	—	−144,179	—	exited	−0.31 pp	—
SPOTSpotify Technology S.A.	—	−68,844	—	exited	−0.27 pp	—
MAMastercard Incorporated	—	−57,201	—	exited	−0.23 pp	—
APHAmphenol Corporation	—	−223,084	—	exited	−0.22 pp	—
HLTHilton Worldwide Holdings Inc.	—	−89,249	—	exited	−0.22 pp	—
KKRKKR & Co. Inc.	—	−179,308	—	exited	−0.13 pp	—
BKNGBooking Holdings Inc.	—	−60,125	—	exited	−0.08 pp	—
BSXBoston Scientific Corp.	—	−104,655	—	exited	−0.05 pp	—