Stephen Mandel - Lone Pine Capital 13F Activity & Position Changes (Q1 2015)

According to the SEC 13F filed on Aug 14, 2026, the Lone Pine Capital portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2015. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2015, the filing reported:

New Buys - Equinix, Inc., FNF Group of Fidelity National , HDFC Bank Limited, Illumina, Inc., Lowe's Companies, Inc., and 4 more

Increases - Apple Inc., Arista Networks, Inc., DaVita Inc., JD.com, Inc., Microsoft Corporation, and 2 more

Reductions - Adobe Inc., Autodesk, Inc., Baidu, Inc., Cognizant Technology Solutions , Cheniere Energy, Inc., and 6 more

Complete Exits - Commvault Systems, Inc., Dollar General Corporation, Humana Inc., Intercontinental Exchange Inc., Netflix, Inc., and 3 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2015	AAPL Apple Inc.	Apple Inc.	Buy	+4,654,400	+213.1%	$850.92K	6,838,522
Q1 2015	ADBE Adobe Inc.	Adobe Inc.	Sell	-133,854	-1.1%	$890.64K	12,045,393
Q1 2015	ADSK Autodesk, Inc.	Autodesk, Inc.	Sell	-6,359,350	-44.0%	$475.22K	8,103,986
Q1 2015	ANET Arista Networks, Inc.	Arista Networks, Inc.	Buy	+165,179	+12.5%	$105.15K	1,490,825
Q1 2015	BIDU Baidu, Inc.	Baidu, Inc.	Sell	-1,749,096	-24.9%	$1.10M	5,281,484
Q1 2015	CTSH Cognizant Technology Solutions	Cognizant Technology Solutions	Sell	-11,136,490	-91.1%	$68.22K	1,093,374
Q1 2015	CVLT Commvault Systems, Inc.	Commvault Systems, Inc.	Sell - Position Exit	-1,321,288	-100.0%	$0.00	-
Q1 2015	DG Dollar General Corporation	Dollar General Corporation	Sell - Position Exit	-12,918,112	-100.0%	$0.00	-
Q1 2015	DVA DaVita Inc.	DaVita Inc.	Buy	+1,515,605	+38.5%	$443.44K	5,455,774
Q1 2015	EQIX Equinix, Inc.	Equinix, Inc.	Buy - Position Entry	+2,729,378	-	$635.54K	2,729,378
Q1 2015	FNF FNF Group of Fidelity National	FNF Group of Fidelity National	Buy - Position Entry	+7,855,396	-	$288.76K	7,855,396
Q1 2015	HDB HDFC Bank Limited	HDFC Bank Limited	Buy - Position Entry	+2,014,620	-	$118.64K	2,014,620
Q1 2015	HUM Humana Inc.	Humana Inc.	Sell - Position Exit	-1,911,536	-100.0%	$0.00	-
Q1 2015	ICE Intercontinental Exchange Inc.	Intercontinental Exchange Inc.	Sell - Position Exit	-1,142,789	-100.0%	$0.00	-
Q1 2015	ILMN Illumina, Inc.	Illumina, Inc.	Buy - Position Entry	+2,890,103	-	$536.52K	2,890,103
Q1 2015	JD JD.com, Inc.	JD.com, Inc.	Buy	+29,709,608	+336.9%	$1.13M	38,527,260
Q1 2015	LNG Cheniere Energy, Inc.	Cheniere Energy, Inc.	Sell	-800,436	-9.1%	$620.63K	8,018,486
Q1 2015	LOW Lowe's Companies, Inc.	Lowe's Companies, Inc.	Buy - Position Entry	+5,916,304	-	$440.11K	5,916,304
Q1 2015	MA Mastercard Incorporated	Mastercard Incorporated	Sell	-7,056,807	-35.2%	$1.12M	12,973,653
Q1 2015	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-5,395,693	-40.0%	$666.51K	8,106,922
Q1 2015	MHK Mohawk Industries, Inc.	Mohawk Industries, Inc.	Sell	-507,917	-20.6%	$363.80K	1,958,565
Q1 2015	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+9,036,165	+165.8%	$588.93K	14,486,109
Q1 2015	MTG MGIC Investment Corporation	MGIC Investment Corporation	Buy - Position Entry	+12,403,003	-	$119.44K	12,403,003
Q1 2015	NFLX Netflix, Inc.	Netflix, Inc.	Sell - Position Exit	-779,647	-100.0%	$0.00	-
Q1 2015	NKE Nike, Inc.	Nike, Inc.	Buy - Position Entry	+5,678,660	-	$569.74K	5,678,660
Q1 2015	TDG Transdigm Group Incorporated	Transdigm Group Incorporated	Buy	+428,587	+24.0%	$484.56K	2,215,423
Q1 2015	UAA Under Armour, Inc.	Under Armour, Inc.	Sell - Position Exit	-1,560,114	-100.0%	$0.00	-
Q1 2015	ULTA Ulta Beauty, Inc.	Ulta Beauty, Inc.	Sell	-871,049	-26.0%	$373.19K	2,473,942
Q1 2015	V Visa Inc.	Visa Inc.	Buy	+7,738,749	+436.8%	$622.07K	9,510,268
Q1 2015	VIPS Vipshop Holdings Limited	Vipshop Holdings Limited	Sell	-2,991,809	-21.5%	$322.19K	10,943,918

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