Lone Pine Capital
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Stephen Mandel's Lone Pine Capital reported 30 stock positions worth $13.5 billion. Its top holding was Meta Platforms Class A (META) at 8.9% of the portfolio, followed by Amazon.com (AMZN, 6.2%) and Philip Morris International (PM, 5.8%). Compared with Q3 2024, it opened 4 new positions, sold out of 3, added to 5 and reduced 19. The biggest buy was a new position in Eli Lilly (LLY) and the biggest sale an exit from Unitedhealth (UNH).
- Most Recent 13F
- Q2 2026
- Notable People
- Stephen Mandel
- Location
- GREENWICH, CT
- CIK
- 0001061165
- Portfolio Value
- $13.5B (Q4 2024)
- SEC Filing
- 0000902664-25-001072 ↗ filed Feb 14, 2025
Holdings Value
Holdings 30 stocks · $13.5B
| META Meta Platforms Inc. Class A | 8.86% | 2,036,930 | $1.2B | Add +7.7% |
| AMZN Amazon.com Inc. | 6.17% | 3,789,034 | $831.3M | Reduce -30.9% |
| PM Philip Morris International | 5.78% | 6,468,372 | $778.5M | Add +44.4% |
| TSM Taiwan Semiconductor-SP ADR | 5.51% | 3,760,444 | $742.7M | Reduce -10.7% |
| VST Vistra Corp. | 5.48% | 5,352,965 | $738.0M | Reduce -21.4% |
| INTU Intuit Inc. | 5.40% | 1,156,762 | $727.0M | Add +25.6% |
| MSFT Microsoft Corp. | 5.13% | 1,639,697 | $691.1M | Reduce -1.0% |
| LPLA LPL Financial Holdings Inc. | 4.66% | 1,922,748 | $627.8M | Reduce -11.8% |
| LLY Eli Lilly & Co. | 4.49% | 782,860 | $604.4M | New |
| KKR KKR & Co. Inc. | 4.45% | 4,048,143 | $598.8M | Reduce -10.5% |
| SBUX Starbucks Corp. | 4.39% | 6,475,057 | $590.8M | Add +59.8% |
| COF Capital One Financial Corp. | 4.29% | 3,235,823 | $577.0M | New |
| CRM Salesforce Inc. | 3.89% | 1,565,193 | $523.3M | Reduce -33.0% |
| FLUT Flutter Entertainment PLC-Di | 3.67% | 1,912,519 | $494.3M | New |
| PTC PTC Inc. | 3.18% | 2,326,231 | $427.7M | Reduce -8.7% |
| SPOT Spotify Technology SA | 3.04% | 913,564 | $408.7M | Reduce -41.2% |
| WDAY Workday Inc. Class A | 2.96% | 1,543,464 | $398.3M | Reduce -3.8% |
| CEG Constellation Energy | 2.89% | 1,737,526 | $388.7M | Reduce -27.4% |
| APP AppLovin Corp. Class A | 2.61% | 1,085,113 | $351.4M | Reduce -54.2% |
| HWM Howmet Aerospace Inc. | 2.49% | 3,061,707 | $334.9M | No change |
| XYZ Block Inc. | 2.38% | 3,765,793 | $320.1M | Reduce -50.9% |
| ASML ASML Holding NV-NY Reg SHS | 2.27% | 441,766 | $306.2M | Reduce -19.9% |
| ARES Ares Management Corp. Class A | 2.20% | 1,677,043 | $296.9M | Reduce -18.3% |
| LEN Lennar Corp. Class A | 1.74% | 1,717,903 | $234.3M | Reduce -41.3% |
| TLN Talen Energy Corp. | 1.63% | 1,089,380 | $219.5M | Add +27.2% |
| BTDR Bitdeer Technologies Group-A | 0.16% | 986,717 | $21.4M | Reduce -24.0% |
| HUT Hut 8 Corp. | 0.11% | 692,839 | $14.2M | Reduce -43.8% |
| CIFR Cipher Digital Inc. | 0.08% | 2,344,380 | $10.9M | New |
| WULF Terawulf Inc. | 0.06% | 1,480,928 | $8.4M | Reduce -51.7% |
| IREN Iren Ltd. filed as IREN LIMITED | 0.05% | 711,839 | $7.0M | No change |
Portfolio Sells Q3 2024 → Q4 2024
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −3.58 |
| BKNG Booking Holdings Inc. | Sold out | 0.00% | −2.40 |
| LEN Lennar Corp. Class A | Reduce -41.3% | 1.74% | −2.35 |
| GEV GE Vernova Inc. | Sold out | 0.00% | −2.20 |
| CEG Constellation Energy | Reduce -27.4% | 2.89% | −1.76 |
| XYZ Block Inc. | Reduce -50.9% | 2.38% | −1.46 |
| AMZN Amazon.com Inc. | Reduce -30.9% | 6.17% | −1.45 |
| SPOT Spotify Technology SA | Reduce -41.2% | 3.04% | −1.23 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -19.9% | 2.27% | −1.15 |
| CRM Salesforce Inc. | Reduce -33.0% | 3.89% | −0.89 |
| VST Vistra Corp. | Reduce -21.4% | 5.48% | −0.54 |
| PTC PTC Inc. | Reduce -8.7% | 3.18% | −0.26 |
| MSFT Microsoft Corp. | Reduce -1.0% | 5.13% | −0.18 |
| ARES Ares Management Corp. Class A | Reduce -18.3% | 2.20% | −0.18 |
| WULF Terawulf Inc. | Reduce -51.7% | 0.06% | −0.04 |
| HUT Hut 8 Corp. | Reduce -43.8% | 0.11% | −0.01 |
| WDAY Workday Inc. Class A | Reduce -3.8% | 2.96% | +0.03 |
| KKR KKR & Co. Inc. | Reduce -10.5% | 4.45% | +0.04 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -10.7% | 5.51% | +0.06 |
| BTDR Bitdeer Technologies Group-A | Reduce -24.0% | 0.16% | +0.08 |
| APP AppLovin Corp. Class A | Reduce -54.2% | 2.61% | +0.30 |
| LPLA LPL Financial Holdings Inc. | Reduce -11.8% | 4.66% | +0.88 |
Portfolio Buys Q3 2024 → Q4 2024
| LLY Eli Lilly & Co. | New | 4.49% | +4.49 |
| COF Capital One Financial Corp. | New | 4.29% | +4.29 |
| FLUT Flutter Entertainment PLC-Di | New | 3.67% | +3.67 |
| PM Philip Morris International | Add +44.4% | 5.78% | +1.72 |
| SBUX Starbucks Corp. | Add +59.8% | 4.39% | +1.44 |
| INTU Intuit Inc. | Add +25.6% | 5.40% | +1.13 |
| META Meta Platforms Inc. Class A | Add +7.7% | 8.86% | +0.78 |
| TLN Talen Energy Corp. | Add +27.2% | 1.63% | +0.49 |
| CIFR Cipher Digital Inc. | New | 0.08% | +0.08 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 34 | $16.4B | NBIS, ASML, STX, HD, AMAT |
| Q1 2026 | 36 | $12.5B | VST, ASML, CRS, LPLA, APP |
| Q4 2025 | 32 | $13.6B | TSM, VST, CVNA, LPLA, BN |
| Q3 2025 | 25 | $13.7B | META, VST, TSM, APP, LPLA |
| Q2 2025 | 22 | $13.8B | VST, META, AMZN, MSFT, TSM |
| Q1 2025 | 22 | $11.4B | META, INTU, AMZN, MSFT, SBUX |
| Q4 2024 | 30 | $13.5B | META, AMZN, PM, TSM, VST |
| Q3 2024 | 29 | $13.4B | META, AMZN, VST, TSM, MSFT |
| Q2 2024 | 24 | $12.3B | TSM, MSFT, AMZN, META, PM |
| Q1 2024 | 26 | $12.7B | META, TSM, MSFT, AMZN, CRM |