Stephen Mandel - Lone Pine Capital Options Activity (Jun 30, 2025)

As of Jun 30, 2025, the Lone Pine Capital portfolio disclosed options positions in its latest SEC 13F filing reported on Aug 14, 2025. These filings include call and put options tied to underlying equity holdings, providing a deeper look at the fund's use of derivatives for exposure and hedging.

The reported options activity included 47 call contracts and 7 put contracts across companies such as Carvana Co. (CVNA), Applovin Corporation (APP), Intel Corporation (INTC). Options positions can signal strategies around hedging risk, enhancing leverage, or adjusting portfolio exposure during market shifts.

Date	Symbol	Name	Option	Quantity	Value
Q2 2025	APP Applovin Corporation	Applovin Corporation	CALL	315,600	$110,485,248
Q2 2025	CVNA Carvana Co.	Carvana Co.	CALL	383,500	$129,224,160
Q1 2025	APP Applovin Corporation	Applovin Corporation	CALL	315,600	$83,624,532
Q1 2025	CVNA Carvana Co.	Carvana Co.	CALL	383,500	$80,182,180
Q4 2019	CSX CSX Corporation	CSX Corporation	CALL	1,348,000	$97,541
Q4 2019	UNP Union Pacific Corporation	Union Pacific Corporation	CALL	565,300	$102,201
Q3 2017	CHTR Charter Communications, Inc.	Charter Communications, Inc.	CALL	700,000	$254,394
Q1 2016	DEO Diageo plc	Diageo plc	CALL	2,850,000	$307,430
Q4 2015	AXP American Express Company	American Express Company	CALL	4,300,000	$299,065
Q4 2015	CSX CSX Corporation	CSX Corporation	CALL	534,300	$13,865
Q4 2015	DEO Diageo plc	Diageo plc	CALL	2,850,000	$310,850
Q4 2015	FNF FNF Group of Fidelity National	FNF Group of Fidelity National	CALL	1,750,000	$60,673
Q3 2015	AXP American Express Company	American Express Company	CALL	4,300,000	$318,759
Q3 2015	CSX CSX Corporation	CSX Corporation	CALL	1,331,200	$35,809
Q3 2015	DEO Diageo plc	Diageo plc	CALL	2,850,000	$307,202
Q3 2015	FNF FNF Group of Fidelity National	FNF Group of Fidelity National	CALL	1,915,000	$67,925
Q3 2015	MSFT Microsoft Corporation	Microsoft Corporation	CALL	775,600	$34,328
Q2 2015	CSX CSX Corporation	CSX Corporation	CALL	2,760,000	$90,114
Q2 2015	DEO Diageo plc	Diageo plc	CALL	2,850,000	$330,714
Q2 2015	FNF FNF Group of Fidelity National	FNF Group of Fidelity National	CALL	2,015,000	$74,535
Q2 2015	MSFT Microsoft Corporation	Microsoft Corporation	CALL	2,828,800	$124,892
Q2 2015	WMB Williams Companies, Inc. (The)	Williams Companies, Inc. (The)	CALL	3,285,900	$188,578
Q1 2015	FNF FNF Group of Fidelity National	FNF Group of Fidelity National	CALL	2,015,000	$74,071
Q1 2015	H8817H100 Transocean	Transocean	PUT	2,400,000	$35,208
Q1 2015	MSFT Microsoft Corporation	Microsoft Corporation	CALL	2,828,800	$115,005
Q1 2015	WMB Williams Companies, Inc. (The)	Williams Companies, Inc. (The)	CALL	1,785,900	$90,349
Q4 2014	ICE Intercontinental Exchange Inc.	Intercontinental Exchange Inc.	CALL	240,000	$52,629,600
Q4 2014	INTC Intel Corporation	Intel Corporation	PUT	2,320,000	$84,192,800
Q4 2014	WBA Walgreens Boots Alliance, Inc.	Walgreens Boots Alliance, Inc.	CALL	600,000	$45,720,000
Q3 2014	CMCSA Comcast Corporation	Comcast Corporation	CALL	1,830,000	$98,417