Lone Pine Capital 13F: Q2 2026 Portfolio — $16.36B Across 34 Positions

Lone Pine Capital’s Q2 2026 activity shows a decisive reshaping rather than broad trimming: it added to 8 positions, initiated 13 new holdings, and exited 15 names. The top-10 weight at 53.9% underscores continued concentration, reinforced by the largest new/add positions such as Nebius Group N.V. (7.19% weight, new), Seagate Technology Hldngs Pl (5.9% weight, new), Home Depot (5.61% weight, new), and Applied Matls (5.34% weight, new).

Within the reshuffle, several trims stand out for reducing exposure to specific franchises: Asml Hldg was trimmed with weight at 6.92% (share count down 13.1%), Teradyne trimmed down 20.3%, and Corning trimmed down 26.6%. Offsetting these reductions, the manager materially increased select positions, including Medline (5.06% weight, share count up 77.9%) and especially Carvana (4.23% weight, share count up 499.6%), alongside Performance Food Group (4.0% weight, share count up 47.1%). Overall, the moves combine concentrated fresh entries with targeted de-risking in a handful of established holdings.

A Form 13F is a quarterly snapshot institutional managers with over $100M in US-listed assets must file within 45 days of quarter end. It shows long equity positions only: no short book, no cash, no non-US listings, no timing inside the quarter. Treat it as a delayed map of where the manager's conviction sat on the reporting date — not a live portfolio, and not a buy list.