Stephen Mandel - Lone Pine Capital 13F Activity & Position Changes (Q4 2019)

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 Dec 31, 2019. 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 Q4 2019, the filing reported:

New Buys - CSX Corporation, Carvana Co., DexCom, Inc., HubSpot, Inc., Illumina, Inc., and 4 more

Increases - Equifax, Inc., Herbalife, Mastercard Incorporated, MercadoLibre, Inc., Meta Platforms, Inc., and 5 more

Reductions - Adobe Inc., Autodesk, Inc., Amazon.com, Inc., Alibaba Group Holding Limited, Salesforce, Inc., and 9 more

Complete Exits - Booking Holdings Inc. Common St, D.R. Horton, Inc., Smartsheet Inc., S&P Global Inc., Twilio Inc.

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
Q4 2019	ADBE Adobe Inc.	Adobe Inc.	Sell	-706,341	-19.9%	$939.07K	2,847,297
Q4 2019	ADSK Autodesk, Inc.	Autodesk, Inc.	Sell	-1,219,603	-27.1%	$603.25K	3,288,196
Q4 2019	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-106,475	-17.1%	$952.57K	515,504
Q4 2019	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Sell	-1,052,776	-14.4%	$1.32M	6,239,786
Q4 2019	BKNG Booking Holdings Inc. Common St	Booking Holdings Inc. Common St	Sell - Position Exit	-211,257	-100.0%	$0.00	-
Q4 2019	CRM Salesforce, Inc.	Salesforce, Inc.	Sell	-964,066	-18.9%	$673.44K	4,140,694
Q4 2019	CSX CSX Corporation	CSX Corporation	Buy - Position Entry	+12,000	-	$868.00	12,000
Q4 2019	CVNA Carvana Co.	Carvana Co.	Buy - Position Entry	+1,002,910	-	$92.32K	1,002,910
Q4 2019	DHI D.R. Horton, Inc.	D.R. Horton, Inc.	Sell - Position Exit	-3,333,812	-100.0%	$0.00	-
Q4 2019	DPZ Domino's Pizza Inc	Domino's Pizza Inc	Sell	-446,609	-20.5%	$508.57K	1,731,133
Q4 2019	DXCM DexCom, Inc.	DexCom, Inc.	Buy - Position Entry	+1,058,895	-	$231.62K	1,058,895
Q4 2019	EFX Equifax, Inc.	Equifax, Inc.	Buy	+379,566	+12.4%	$483.18K	3,448,313
Q4 2019	G4412G101 Herbalife	Herbalife	Buy	+1,791,049	+85.2%	$185.56K	3,892,688
Q4 2019	GPN Global Payments Inc.	Global Payments Inc.	Sell	-410,162	-11.2%	$592.45K	3,245,218
Q4 2019	HUBS HubSpot, Inc.	HubSpot, Inc.	Buy - Position Entry	+225,647	-	$35.77K	225,647
Q4 2019	HUM Humana Inc.	Humana Inc.	Sell	-115,968	-7.3%	$539.80K	1,472,775
Q4 2019	ILMN Illumina, Inc.	Illumina, Inc.	Buy - Position Entry	+519,808	-	$172.44K	519,808
Q4 2019	IQV IQVIA Holdings, Inc.	IQVIA Holdings, Inc.	Sell	-467,035	-13.2%	$476.23K	3,082,174
Q4 2019	MA Mastercard Incorporated	Mastercard Incorporated	Buy	+778,839	+48.5%	$712.46K	2,386,096
Q4 2019	MELI MercadoLibre, Inc.	MercadoLibre, Inc.	Buy	+390,332	+67.3%	$555.21K	970,749
Q4 2019	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+1,477,510	+75.8%	$703.17K	3,425,898
Q4 2019	MO Altria Group, Inc.	Altria Group, Inc.	Buy - Position Entry	+3,536,654	-	$176.51K	3,536,654
Q4 2019	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-990,500	-16.3%	$799.39K	5,069,049
Q4 2019	NFLX Netflix, Inc.	Netflix, Inc.	Buy	+138,089	+5.9%	$806.70K	2,493,127
Q4 2019	NOW ServiceNow, Inc.	ServiceNow, Inc.	Sell	-155,336	-9.1%	$435.48K	1,542,489
Q4 2019	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Buy - Position Entry	+3,364,320	-	$363.92K	3,364,320
Q4 2019	SE Sea Limited	Sea Limited	Sell	-696,800	-10.2%	$247.97K	6,165,422
Q4 2019	SHOP Shopify Inc.	Shopify Inc.	Buy	+435,481	+31.6%	$720.67K	1,812,652
Q4 2019	SMAR Smartsheet Inc.	Smartsheet Inc.	Sell - Position Exit	-506,100	-100.0%	$0.00	-
Q4 2019	SPGI S&P Global Inc.	S&P Global Inc.	Sell - Position Exit	-1,724,511	-100.0%	$0.00	-

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