Stephen Mandel - Lone Pine Capital 13F Activity & Position Changes (Q4 2025)
As of Dec 31, 2025, the Lone Pine Capital portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 17, 2026. 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 2025, the filing reported:
New Buys - Affirm Holdings, Inc., ASML, Boston Scientific Corporation, Clean Harbors, Inc., Carpenter Technology Corporatio, and 8 more
Increases - Broadcom Inc., Brookfield Corporation, Carvana Co., Nu Holdings, KKR & Co. Inc., and 5 more
Reductions - Amazon.com, Inc., Amphenol Corporation, Applovin Corporation, Booking Holdings Inc. Common St, Capital One Financial Corporati, and 2 more
Complete Exits - Ciena Corporation, EQT Corporation, Etsy, Inc., Flutter Entertainment, Meta Platforms, Inc., and 2 more
These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.
| Date | Symbol | Type | Change Qty |
|---|---|---|---|
|
Q4 2025
|
AFRM
Affirm Holdings, Inc.
|
Buy - Position Entry |
+3,817,170
|
|
Q4 2025
|
AMZN
Amazon.com, Inc.
|
Sell |
-397,408
|
|
Q4 2025
|
APH
Amphenol Corporation
|
Sell |
-213,458
|
|
Q4 2025
|
APP
Applovin Corporation
|
Sell |
-328,608
|
|
Q4 2025
|
ASML
ASML
|
Buy - Position Entry |
+605,017
|
|
Q4 2025
|
AVGO
Broadcom Inc.
|
Buy |
+180,804
|
|
Q4 2025
|
BKNG
Booking Holdings Inc. Common St
|
Sell |
-26,521
|
|
Q4 2025
|
BN
Brookfield Corporation
|
Buy |
+5,742,012
|
|
Q4 2025
|
BSX
Boston Scientific Corporation
|
Buy - Position Entry |
+201,703
|
|
Q4 2025
|
CIEN
Ciena Corporation
|
Sell - Position Exit |
-2,006,662
|
|
Q4 2025
|
CLH
Clean Harbors, Inc.
|
Buy - Position Entry |
+1,378,125
|
|
Q4 2025
|
COF
Capital One Financial Corporati
|
Sell |
-274,600
|
|
Q4 2025
|
CRS
Carpenter Technology Corporatio
|
Buy - Position Entry |
+1,312,938
|
|
Q4 2025
|
CVNA
Carvana Co.
|
Buy |
+14,037
|
|
Q4 2025
|
DASH
DoorDash, Inc.
|
Buy - Position Entry |
+2,529,879
|
|
Q4 2025
|
ENTG
Entegris, Inc.
|
Buy - Position Entry |
+3,054,230
|
|
Q4 2025
|
EQT
EQT Corporation
|
Sell - Position Exit |
-8,361,889
|
|
Q4 2025
|
ETSY
Etsy, Inc.
|
Sell - Position Exit |
-3,880,316
|
|
Q4 2025
|
FLUT
Flutter Entertainment
|
Sell - Position Exit |
-1,733,336
|
|
Q4 2025
|
G6683N103
Nu Holdings
|
Buy |
+4,223,788
|
|
Q4 2025
|
HLT
Hilton Worldwide Holdings Inc.
|
Buy - Position Entry |
+57,817
|
|
Q4 2025
|
KKR
KKR & Co. Inc.
|
Buy |
+920,524
|
|
Q4 2025
|
LPLA
LPL Financial Holdings Inc.
|
Sell |
-180,766
|
|
Q4 2025
|
MA
Mastercard Incorporated
|
Buy - Position Entry |
+96,338
|
|
Q4 2025
|
META
Meta Platforms, Inc.
|
Sell - Position Exit |
-1,322,260
|
|
Q4 2025
|
MSFT
Microsoft Corporation
|
Buy |
+25,520
|
|
Q4 2025
|
PM
Philip Morris International Inc
|
Sell |
-1,970,864
|
|
Q4 2025
|
SBUX
Starbucks Corporation
|
Sell - Position Exit |
-5,561,954
|
|
Q4 2025
|
SE
Sea Limited
|
Sell - Position Exit |
-1,869,501
|
|
Q4 2025
|
SPOT
Spotify
|
Buy - Position Entry |
+17,762
|
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