# Lone Pine Capital: 13F portfolio, Q2 2026

Investment firm, Greenwich.

Source: SEC Form 13F filed 2026-08-14 for the quarter ended 2026-06-30: https://www.sec.gov/Archives/edgar/data/1061165/000091957426005485/0000919574-26-005485-index.htm
Values are as the manager reported them in the filing, not current market prices.
Page: https://valuepeg.com/managers/lone-pine-capital
Updated: 2026-08-14 · Next filing due by 2026-11-14

## Summary
- Reported value: $16.4B (Q1 2026: $12.5B)
- Positions: 34 (Q1 2026: 36)
- Top 10 holdings: 53.9% of the portfolio
- This quarter: 13 new, 7 added to, 13 trimmed, 15 sold out

## What Lone Pine Capital did in Q2 2026
Lone Pine Capital opened 13 new positions, the largest Nebius Group, Seagate Technology Holdings and Home Depot. It raised its stake in Visa by 79% and Medline by 78%. It sold out of 15 positions, among them Vistra, Talen Energy and Clean Harbors. It cut Brookfield by 93%, Taiwan Semiconductor Manufacturing by 93% and Mckesson by 85%. Nebius Group is now the largest holding, at 7.2% of the portfolio.

## Biggest buys
- Nebius Group (NBIS): New
- Seagate Technology Holdings (STX): New
- Home Depot (HD): New
- Applied Materials (AMAT): New
- Linde (LIN): New

## Biggest sells
- Vistra (VST): Sold out
- Talen Energy (TLN): Sold out
- Clean Harbors (CLH): Sold out
- Tenet Healthcare (THC): Sold out
- Capital One Financial (COF): Sold out

## Top 15 holdings
| # | Company | Ticker | % of portfolio | Reported value | Change vs Q1 2026 | Held since |
|---|---|---|---|---|---|---|
| 1 | Nebius Group | NBIS | 7.2% | $1.2B | New | Q2 2026 |
| 2 | ASML Holding | ASML | 6.9% | $1.1B | −13% | Q3 2024 or earlier |
| 3 | Seagate Technology Holdings | STX | 5.9% | $965.1M | New | Q2 2026 |
| 4 | Home Depot | HD | 5.6% | $918.1M | New | Q2 2026 |
| 5 | Applied Materials | AMAT | 5.3% | $873.2M | New | Q2 2026 |
| 6 | Medline | MDLN | 5.1% | $827.0M | +78% | Q4 2025 |
| 7 | Linde | LIN | 4.9% | $808.6M | New | Q2 2026 |
| 8 | Teradyne | TER | 4.4% | $722.4M | −20% | Q1 2026 |
| 9 | Corning | GLW | 4.3% | $696.8M | −27% | Q1 2026 |
| 10 | Carvana | CVNA | 4.2% | $692.5M | Split | Q1 2025 |
| 11 | Hut 8 | HUT | 4.1% | $666.5M | −5% | Q3 2024 or earlier |
| 12 | Performance Food Group | PFGC | 4.0% | $654.3M | +47% | Q1 2026 |
| 13 | Nu Holdings | NU | 3.9% | $630.9M | +24% | Q3 2025 |
| 14 | Terawulf | WULF | 3.6% | $596.4M | +21% | Q3 2024 or earlier |
| 15 | Carpenter Technology | CRS | 3.6% | $593.9M | −47% | Q4 2025 |

19 more positions and every quarter's holdings are on Valuepeg for members: https://valuepeg.com/managers/lone-pine-capital

## Other value investors
- Markel Group: https://valuepeg.com/managers/markel-group
- Muhlenkamp & Company: https://valuepeg.com/managers/muhlenkamp
- Oaktree Capital (Howard Marks): https://valuepeg.com/managers/oaktree-capital
- Pershing Square (Bill Ackman): https://valuepeg.com/managers/pershing-square
- Polen Capital: https://valuepeg.com/managers/polen-capital

## About this data
- **What is a 13F?** A quarterly report to the SEC in which an investment manager with over $100 million in US-listed stocks lists what it holds.
- **How current is it?** Managers file up to 45 days after each quarter ends, so the holdings may have changed since.
- **Whose figures are these?** The values are as the manager reported them in the filing, not today's prices. The SEC lets a manager keep some positions confidential for a time, and those are not in the filing.
- **What does it leave out?** Short positions, cash, bonds and most holdings outside US markets. Options are left out here too.

Not investment advice.