LONE PINE CAPITAL LLC — Quarter-over-Quarter 13F Allocation Shifts Q1 2026
In Q1 2026, LONE PINE CAPITAL LLC initiated 11 new positions, increased allocation to 10 existing positions, trimmed 10 positions, and exited 7 positions entirely. The fund's 13F equity book declined from $13.61B to $12.54B (-7.8% QoQ) . All deltas are sourced from sequential SEC Form 13F-HR filings; share-count changes reflect explicit trading activity, while weight changes can also include price movement. This page lists every position change reported — the portfolio overview shows a summary of the top shifts.
Net Portfolio Value Change
- $13.61BPrior quarter
- $12.54BCurrent quarter
- $-1.07BNet delta
- -7.8%% change
New Position Initiations Q1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Allocation Weight | History |
|---|---|---|---|
| TERADYNE INC | TER | 4.43% | History → |
| CORNING INC | GLW | 4.03% | Holders → |
| MASTEC INC | MTZ | 3.93% | Holders → |
| US FOODS HOLDING CORP | USFD | 2.79% | Holders → |
| PERFORMANCE FOOD GROUP CO | PFGC | 2.72% | Holders → |
| MCKESSON CORP | MCK | 2.71% | Holders → |
| CIENA CORP | CIEN | 2.51% | Holders → |
| TERAWULF INC | WULF | 2.29% | Holders → |
| HUT 8 CORP | HUT | 2.27% | Holders → |
| ARGAN INC | AGX | 1.71% | Holders → |
| ALPHABET INC | GOOGL | 0.43% | Holders → |
Largest Allocation Increases Q1 2026
Largest portfolio-weight increases in existing positions. Share-count delta is shown separately so price-only re-weighting can be distinguished from active adds.
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| VISA INC | V | +0.18% | +509.68% | Holders → |
| SPOTIFY TECHNOLOGY S A | SPOT | +0.19% | +287.59% | Holders → |
| APPLOVIN CORP | APP | +0.78% | +87.68% | History → |
| TRANSDIGM GROUP INC | TDG | +0.14% | +85.55% | Holders → |
| HILTON WORLDWIDE HOLDINGS INC | HLT | +0.09% | +54.36% | Holders → |
| TALEN ENERGY CORP | TLN | +1.07% | +40.65% | History → |
| CARPENTER TECHNOLOGY CORP | CRS | +2.68% | +38.46% | History → |
| NU HOLDINGS LTD | NU | +0.71% | +28.29% | History → |
| CLEAN HARBORS INC | CLH | +1.64% | +27.34% | Holders → |
| TENET HEALTHCARE CORP | THC | +0.79% | +26.37% | Holders → |
Largest Allocation Reductions Q1 2026
Largest portfolio-weight decreases in existing positions (positions kept open at a lower allocation).
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| KKR & CO INC | KKR | -4.55% | -96.41% | Holders → |
| AMPHENOL CORP | APH | -2.57% | -92.06% | Holders → |
| VULCAN MATERIALS CO | VMC | -3.22% | -91.44% | Holders → |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | -3.07% | -54.48% | Holders → |
| BOSTON SCIENTIFIC CORP | BSX | -0.09% | -48.11% | Holders → |
| BOOKING HOLDINGS INC | BKNG | -0.10% | -48.06% | Holders → |
| MASTERCARD INCORPORATED | MA | -0.18% | -40.62% | Holders → |
| BROOKFIELD CORP | BN | -1.75% | -29.61% | Holders → |
| CARVANA CO | CVNA | -1.12% | -1.38% | History → |
| CAPITAL ONE FINL CORP | COF | -0.79% | -1.21% | Holders → |
Exited Positions Q1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| BROADCOM INC | AVGO | 4.40% |
| MICROSOFT CORP | MSFT | 4.38% |
| DOORDASH INC | DASH | 4.21% |
| AMAZON COM INC | AMZN | 4.09% |
| PHILIP MORRIS INTL INC | PM | 3.12% |
| WINGSTOP INC | WING | 2.80% |
| AFFIRM HLDGS INC | AFRM | 2.09% |
Methodology & FAQ
How LONE PINE CAPITAL LLC Quarterly Changes Are Computed
Each row above is computed by joining the most recent 13F-HR filing for LONE PINE CAPITAL LLC against the immediately preceding quarterly filing for the same fund. Portfolio weights are normalized to exclude listed options for comparability. A complete description of the methodology — including how confidential treatment filings are handled and why share count rather than weight is the cleaner trading signal — is documented in the Methodology.
Which positions did LONE PINE CAPITAL LLC initiate in Q1 2026?
LONE PINE CAPITAL LLC established 11 new positions in Q1 2026: TERADYNE INC (TER, 4.43%), CORNING INC (GLW, 4.03%), MASTEC INC (MTZ, 3.93%), US FOODS HOLDING CORP (USFD, 2.79%), PERFORMANCE FOOD GROUP CO (PFGC, 2.72%), MCKESSON CORP (MCK, 2.71%), CIENA CORP (CIEN, 2.51%), TERAWULF INC (WULF, 2.29%), HUT 8 CORP (HUT, 2.27%), ARGAN INC (AGX, 1.71%), ALPHABET INC (GOOGL, 0.43%).
Which existing positions saw the largest allocation increases for LONE PINE CAPITAL LLC in Q1 2026?
The largest portfolio-weight increases in existing positions were: VISA INC (V, +0.18% weight, +509.68% shares), SPOTIFY TECHNOLOGY S A (SPOT, +0.19% weight, +287.59% shares), APPLOVIN CORP (APP, +0.78% weight, +87.68% shares), TRANSDIGM GROUP INC (TDG, +0.14% weight, +85.55% shares), HILTON WORLDWIDE HOLDINGS INC (HLT, +0.09% weight, +54.36% shares), TALEN ENERGY CORP (TLN, +1.07% weight, +40.65% shares), CARPENTER TECHNOLOGY CORP (CRS, +2.68% weight, +38.46% shares), NU HOLDINGS LTD (NU, +0.71% weight, +28.29% shares), CLEAN HARBORS INC (CLH, +1.64% weight, +27.34% shares), TENET HEALTHCARE CORP (THC, +0.79% weight, +26.37% shares).
Which positions did LONE PINE CAPITAL LLC fully exit in Q1 2026?
LONE PINE CAPITAL LLC fully exited 7 positions in Q1 2026: BROADCOM INC (AVGO, last-reported weight 4.40%), MICROSOFT CORP (MSFT, last-reported weight 4.38%), DOORDASH INC (DASH, last-reported weight 4.21%), AMAZON COM INC (AMZN, last-reported weight 4.09%), PHILIP MORRIS INTL INC (PM, last-reported weight 3.12%), WINGSTOP INC (WING, last-reported weight 2.80%), AFFIRM HLDGS INC (AFRM, last-reported weight 2.09%).
Which existing positions saw the largest allocation reductions for LONE PINE CAPITAL LLC in Q1 2026?
The largest portfolio-weight reductions in positions kept open were: KKR & CO INC (KKR, -4.55% weight, -96.41% shares), AMPHENOL CORP (APH, -2.57% weight, -92.06% shares), VULCAN MATERIALS CO (VMC, -3.22% weight, -91.44% shares), TAIWAN SEMICONDUCTOR MANUFAC (TSM, -3.07% weight, -54.48% shares), BOSTON SCIENTIFIC CORP (BSX, -0.09% weight, -48.11% shares), BOOKING HOLDINGS INC (BKNG, -0.10% weight, -48.06% shares), MASTERCARD INCORPORATED (MA, -0.18% weight, -40.62% shares), BROOKFIELD CORP (BN, -1.75% weight, -29.61% shares), CARVANA CO (CVNA, -1.12% weight, -1.38% shares), CAPITAL ONE FINL CORP (COF, -0.79% weight, -1.21% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity.