LONE PINE CAPITAL LLC 13F: Quarter-over-Quarter Portfolio Changes
LONE PINE CAPITAL LLC reported a disclosed portfolio value of approximately $12.5 billion in its latest SEC Form 13F-HR filing for Q1 2026, down 7.8% quarter on quarter. Over the quarter, the fund initiated 11 new positions, bought more shares in 14 holdings, trimmed 11 holdings, and exited 7 positions.
LONE PINE CAPITAL LLC's top buy was a new stake in Teradyne INC (TER) , equal to 4.4% of the disclosed portfolio. Its top sell was Kkr & CO INC (KKR) . The fund sold 96.4% of its previously reported shares, reducing the position's portfolio weight by 4.6 percentage points.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| TERADYNE INC | TER | 4.4% | History → |
| CORNING INC | GLW | 4.0% | Holders → |
| MASTEC INC | MTZ | 3.9% | Holders → |
| US FOODS HOLDING CORP | USFD | 2.8% | Holders → |
| PERFORMANCE FOOD GROUP CO | PFGC | 2.7% | Holders → |
| MCKESSON CORP | MCK | 2.7% | Holders → |
| CIENA CORP | CIEN | 2.5% | Holders → |
| TERAWULF INC | WULF | 2.3% | Holders → |
| HUT 8 CORP | HUT | 2.3% | Holders → |
| ARGAN INC | AGX | 1.7% | Holders → |
| ALPHABET CL A | GOOGL | 0.4% | Holders → |
Top BuysQ1 2026
Showing the top 10 buys among 14 existing positions where the fund bought more shares in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| VISA | V | +0.2% | +509.7% | Holders → |
| SPOTIFY TECHNOLOGY S A | SPOT | +0.2% | +287.6% | Holders → |
| APPLOVIN CORP | APP | +0.8% | +87.7% | History → |
| TRANSDIGM GROUP INC | TDG | +0.1% | +85.5% | Holders → |
| HILTON WORLDWIDE HLDGS INC | HLT | +0.1% | +54.4% | Holders → |
| TALEN ENERGY CORP | TLN | +1.1% | +40.7% | History → |
| CARPENTER TECHNOLOGY CORP | CRS | +2.7% | +38.5% | History → |
| NU HOLDINGS LTD | NU | +0.7% | +28.3% | History → |
| CLEAN HARBORS INC | CLH | +1.6% | +27.3% | Holders → |
| TENET HEALTHCARE CORP | THC | +0.8% | +26.4% | Holders → |
Top SellsQ1 2026
Showing the top 10 sells among 11 existing positions where the fund sold shares in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| KKR & CO INC | KKR | -4.6% | 96.4% | Holders → |
| AMPHENOL | APH | -2.6% | 92.1% | Holders → |
| VULCAN MATLS CO | VMC | -3.2% | 91.4% | Holders → |
| TAIWAN SEMIC-ADR | TSM | -3.1% | 54.5% | Holders → |
| BOSTON SCIENTIFIC CORP | BSX | -0.1% | 48.1% | Holders → |
| BOOKING HLDGS INC | BKNG | -0.1% | 48.1% | Holders → |
| MASTERCARD INCORPORATED | MA | -0.2% | 40.6% | Holders → |
| BROOKFIELD CORP | BN | -1.8% | 29.6% | Holders → |
| CARVANA CO | CVNA | -1.1% | 1.4% | History → |
| CAPITAL ONE FINL CORP | COF | -0.8% | 1.2% | Holders → |
Full ExitsQ1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| BROADCOM | AVGO | 4.4% |
| MICROSOFT | MSFT | 4.4% |
| DOORDASH INC | DASH | 4.2% |
| AMAZON.COM | AMZN | 4.1% |
| PHILIP MORRIS INTL INC | PM | 3.1% |
| WINGSTOP INC | WING | 2.8% |
| AFFIRM HLDGS INC | AFRM | 2.1% |
Net Portfolio Value ChangeQ1 2026
- $13.6BPrior quarter
- $12.5BCurrent quarter
- $-1.1BNet delta
- -7.8%% change
Methodology & FAQ
How LONE PINE CAPITAL LLC Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for LONE PINE CAPITAL LLC: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did LONE PINE CAPITAL LLC buy in Q1 2026?
In Q1 2026, LONE PINE CAPITAL LLC initiated 11 new positions (TERADYNE INC (TER), CORNING INC (GLW), MASTEC INC (MTZ), US FOODS HOLDING CORP (USFD), PERFORMANCE FOOD GROUP CO (PFGC), MCKESSON CORP (MCK), CIENA CORP (CIEN), TERAWULF INC (WULF), HUT 8 CORP (HUT), ARGAN INC (AGX), ALPHABET CL A (GOOGL)); bought more shares of VISA (V), SPOTIFY TECHNOLOGY S A (SPOT), APPLOVIN CORP (APP), TRANSDIGM GROUP INC (TDG), HILTON WORLDWIDE HLDGS INC (HLT) — the largest 5 of 14 adds.
What stocks did LONE PINE CAPITAL LLC sell in Q1 2026?
In Q1 2026, LONE PINE CAPITAL LLC fully sold 7 positions (BROADCOM (AVGO), MICROSOFT (MSFT), DOORDASH INC (DASH), AMAZON.COM (AMZN), PHILIP MORRIS INTL INC (PM), WINGSTOP INC (WING), AFFIRM HLDGS INC (AFRM)); reduced holdings in KKR & CO INC (KKR), AMPHENOL (APH), VULCAN MATLS CO (VMC), TAIWAN SEMIC-ADR (TSM), BOSTON SCIENTIFIC CORP (BSX) — the largest 5 of 11 reductions.
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, 4.4%), CORNING INC (GLW, 4.0%), MASTEC INC (MTZ, 3.9%), US FOODS HOLDING CORP (USFD, 2.8%), PERFORMANCE FOOD GROUP CO (PFGC, 2.7%), MCKESSON CORP (MCK, 2.7%), CIENA CORP (CIEN, 2.5%), TERAWULF INC (WULF, 2.3%), HUT 8 CORP (HUT, 2.3%), ARGAN INC (AGX, 1.7%), ALPHABET CL A (GOOGL, 0.4%).
Which existing positions saw the largest allocation increases for LONE PINE CAPITAL LLC in Q1 2026?
Of 14 existing positions with share-count increases in Q1 2026, the largest were: VISA (V, +0.2% weight, +509.7% shares), SPOTIFY TECHNOLOGY S A (SPOT, +0.2% weight, +287.6% shares), APPLOVIN CORP (APP, +0.8% weight, +87.7% shares), TRANSDIGM GROUP INC (TDG, +0.1% weight, +85.5% shares), HILTON WORLDWIDE HLDGS INC (HLT, +0.1% weight, +54.4% shares), TALEN ENERGY CORP (TLN, +1.1% weight, +40.7% shares), CARPENTER TECHNOLOGY CORP (CRS, +2.7% weight, +38.5% shares), NU HOLDINGS LTD (NU, +0.7% weight, +28.3% shares), CLEAN HARBORS INC (CLH, +1.6% weight, +27.3% shares), TENET HEALTHCARE CORP (THC, +0.8% weight, +26.4% 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 (AVGO, last-reported weight 4.4%), MICROSOFT (MSFT, last-reported weight 4.4%), DOORDASH INC (DASH, last-reported weight 4.2%), AMAZON.COM (AMZN, last-reported weight 4.1%), PHILIP MORRIS INTL INC (PM, last-reported weight 3.1%), WINGSTOP INC (WING, last-reported weight 2.8%), AFFIRM HLDGS INC (AFRM, last-reported weight 2.1%).
Which existing positions saw the largest allocation reductions for LONE PINE CAPITAL LLC in Q1 2026?
Of 11 existing positions with share-count reductions in Q1 2026, the largest were: KKR & CO INC (KKR, -4.6% weight, -96.4% shares), AMPHENOL (APH, -2.6% weight, -92.1% shares), VULCAN MATLS CO (VMC, -3.2% weight, -91.4% shares), TAIWAN SEMIC-ADR (TSM, -3.1% weight, -54.5% shares), BOSTON SCIENTIFIC CORP (BSX, -0.1% weight, -48.1% shares), BOOKING HLDGS INC (BKNG, -0.1% weight, -48.1% shares), MASTERCARD INCORPORATED (MA, -0.2% weight, -40.6% shares), BROOKFIELD CORP (BN, -1.8% weight, -29.6% shares), CARVANA CO (CVNA, -1.1% weight, -1.4% shares), CAPITAL ONE FINL CORP (COF, -0.8% weight, -1.2% 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. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.