Stephen Mandel – Lone Pine Capital Portfolio Activity & Recent Trades (Jun 30, 2025)

As of Jun 30, 2025, the Lone Pine Capital portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 14, 2025. 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 Q2 2025, the filing reported:

New Buys – EQT Corporation (EQT), Brookfield Corporation (BN), Wix (WIX), UnitedHealth Group Incorporated (UNH), Booking Holdings Inc. Common St (BKNG)

Increases – Vistra Corp. (VST), Amazon.com, Inc. (AMZN), KKR & Co. Inc. (KKR), Salesforce, Inc. (CRM), LPL Financial Holdings Inc. (LPLA)

Reductions – ASML (ASML), Meta Platforms, Inc. (META), Capital One Financial Corporati (COF), Microsoft Corporation (MSFT), Philip Morris International Inc (PM), and 6 more

Complete Exits – Wingstop Inc. (WING), Eli Lilly and Company (LLY), Cadence Design Systems, Inc. (CDNS), Ares Management Corporation (ARES), Toll Brothers, Inc. (TOL)

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

Lone Pine Capital Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q3 2019Sep 30, 2019	TDG Transdigm Group Incorporated	Transdigm Group Incorporated	Sell	-301,446-19.0%	$668.57K	1,284,058
Q3 2019Sep 30, 2019	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-1,053,748-35.1%	$346.97K	1,948,388
Q3 2019Sep 30, 2019	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-1,324,962-17.9%	$842.46K	6,059,549
Q3 2019Sep 30, 2019	UNP Union Pacific Corporation	Union Pacific Corporation	Sell	-2,361,120-47.9%	$416.25K	2,569,779
Q3 2019Sep 30, 2019	IQV IQVIA Holdings, Inc.	IQVIA Holdings, Inc.	Sell	-2,636,698-42.6%	$530.18K	3,549,209
Q3 2019Sep 30, 2019	WYNN Wynn Resorts, Limited	Wynn Resorts, Limited	Sell - Position Exit	-5,406,697-100.0%	$0.00	-
Q3 2019Sep 30, 2019	DHI D.R. Horton, Inc.	D.R. Horton, Inc.	Sell	-9,096,601-73.2%	$175.72K	3,333,812
Q2 2019Jun 30, 2019	DHI D.R. Horton, Inc.	D.R. Horton, Inc.	Buy	+5,862,601+89.3%	$536.12K	12,430,413
Q2 2019Jun 30, 2019	CHWY Chewy, Inc.	Chewy, Inc.	Buy - Position Entry	+3,292,923	$115.25K	3,292,923
Q2 2019Jun 30, 2019	SQ Block, Inc.	Block, Inc.	Buy	+3,194,831+2662.4%	$240.43K	3,314,831
Q2 2019Jun 30, 2019	UBER Uber Technologies, Inc.	Uber Technologies, Inc.	Buy - Position Entry	+3,001,420	$125.20K	3,001,420
Q2 2019Jun 30, 2019	UNP Union Pacific Corporation	Union Pacific Corporation	Buy	+1,617,445+48.8%	$833.86K	4,930,899
Q2 2019Jun 30, 2019	SHOP Shopify Inc.	Shopify Inc.	Buy	+1,462,771+3656.9%	$451.06K	1,502,771
Q2 2019Jun 30, 2019	DPZ Domino's Pizza Inc	Domino's Pizza Inc	Buy - Position Entry	+1,247,255	$347.09K	1,247,255
Q2 2019Jun 30, 2019	CRM Salesforce, Inc.	Salesforce, Inc.	Buy	+981,520+50.1%	$446.35K	2,941,733
Q2 2019Jun 30, 2019	ADSK Autodesk, Inc.	Autodesk, Inc.	Buy	+549,792+16.0%	$649.95K	3,989,892
Q2 2019Jun 30, 2019	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Buy	+235,328+4.2%	$995.63K	5,875,662
Q2 2019Jun 30, 2019	UNH UnitedHealth Group Incorporated	UnitedHealth Group Incorporated	Buy	+197,536+5.5%	$920.47K	3,772,254
Q2 2019Jun 30, 2019	TDG Transdigm Group Incorporated	Transdigm Group Incorporated	Sell	-75,749-4.6%	$767.07K	1,585,504
Q2 2019Jun 30, 2019	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-185,150-28.4%	$883.40K	466,511
Q2 2019Jun 30, 2019	MELI MercadoLibre, Inc.	MercadoLibre, Inc.	Sell	-190,833-28.6%	$291.43K	476,373
Q2 2019Jun 30, 2019	NOW ServiceNow, Inc.	ServiceNow, Inc.	Sell	-394,369-23.1%	$360.11K	1,311,525
Q2 2019Jun 30, 2019	GOOG Alphabet Inc.	Alphabet Inc.	Sell - Position Exit	-444,419-100.0%	$0.00	-
Q2 2019Jun 30, 2019	WYNN Wynn Resorts, Limited	Wynn Resorts, Limited	Sell	-548,800-9.2%	$670.38K	5,406,697
Q2 2019Jun 30, 2019	ADBE Adobe Inc.	Adobe Inc.	Sell	-784,261-17.3%	$1.10M	3,743,938
Q2 2019Jun 30, 2019	MA Mastercard Incorporated	Mastercard Incorporated	Sell	-1,120,530-40.1%	$442.02K	1,670,957
Q2 2019Jun 30, 2019	SE Sea Limited	Sea Limited	Sell	-1,129,100-15.5%	$203.78K	6,134,122
Q2 2019Jun 30, 2019	SPGI S&P Global Inc.	S&P Global Inc.	Sell	-1,160,850-37.6%	$439.75K	1,930,511
Q2 2019Jun 30, 2019	IQV IQVIA Holdings, Inc.	IQVIA Holdings, Inc.	Sell	-1,522,232-19.7%	$995.31K	6,185,907
Q2 2019Jun 30, 2019	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-1,650,520-18.3%	$989.23K	7,384,511

Page 25 of 50 • 1487 total trades

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