PaperPanda Fund Terminal
Steve Mandel
LONE PINE CAPITAL LLC · CIK: 1061165 · Report Period: 2025-12-31 · Filed: 2026-02-17
Portfolio Concentration
Top 10 holdings by weight — hover for cross-investor insights
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Holdings
Total: $13,611,137,640 · 32 positions
| # | Ticker | Issuer | Class | % of Portfolio | Value ($) | Shares | Activity | Share Change |
|---|---|---|---|---|---|---|---|---|
| 1 |
 TSM
|
TAIWAN SEMICONDUCTOR MFG LTD | COM | 6.8% | $927,593,836 | 3,052,400 | - | - |
| 2 |
 VSTE
|
VISTRA CORP | COM | 6.2% | $840,833,407 | 5,211,885 | ADD | +512,644 |
| 3 |
 CVNA
|
CARVANA CO | COM | 5.5% | $750,912,003 | 1,779,328 | ADD | +14,037 |
| 4 |
 LPLA
|
LPL FINL HLDGS INC | COM | 5.4% | $741,109,177 | 2,074,948 | REDUCE | -180,766 |
| 5 |
 BN
|
BROOKFIELD CORP | COM | 5.4% | $730,722,990 | 15,923,360 | ADD | +5,742,012 |
| 6 |
 ASML
|
ASML HOLDING N V | COM | 4.8% | $647,283,488 | 605,017 | NEW BUY | +605,017 |
| 7 |
 KKR
|
KKR & CO INC | COM | 4.7% | $637,538,316 | 5,001,085 | ADD | +920,524 |
| 8 |
 AVGO
|
BROADCOM INC | COM | 4.4% | $598,827,758 | 1,730,216 | ADD | +180,804 |
| 9 |
 MSFT
|
MICROSOFT CORP | COM | 4.4% | $596,847,533 | 1,234,125 | ADD | +25,520 |
| 10 |
 DASH
|
DOORDASH INC | COM | 4.2% | $572,966,996 | 2,529,879 | NEW BUY | +2,529,879 |
| 11 |
 AMZN
|
AMAZON COM INC | COM | 4.1% | $557,319,506 | 2,414,520 | REDUCE | -397,408 |
| 12 |
 COF
|
CAPITAL ONE FINL CORP | COM | 4.1% | $556,189,783 | 2,294,891 | REDUCE | -274,600 |
| 13 |
 APP
|
APPLOVIN CORP | COM | 3.9% | $525,936,725 | 780,530 | REDUCE | -328,608 |
| 14 |
 NU
|
NU HLDGS LTD | COM | 3.6% | $496,010,167 | 29,630,237 | ADD | +4,223,788 |
| 15 |
 MDLN
|
MEDLINE INC | COM | 3.6% | $492,101,274 | 11,716,697 | NEW BUY | +11,716,697 |
| 16 |
 TLNE
|
TALEN ENERGY CORP | COM | 3.6% | $484,486,697 | 1,292,516 | ADD | +100,000 |
| 17 |
 VMC
|
VULCAN MATLS CO | COM | 3.5% | $480,291,085 | 1,683,932 | ADD | +299,308 |
| 18 |
 PM
|
PHILIP MORRIS INTL INC | COM | 3.1% | $424,030,072 | 2,643,579 | REDUCE | -1,970,864 |
| 19 |
 CRS
|
CARPENTER TECHNOLOGY CORP | COM | 3.0% | $413,365,400 | 1,312,938 | NEW BUY | +1,312,938 |
| 20 |
 WING
|
WINGSTOP INC | COM | 2.8% | $380,453,080 | 1,595,258 | ADD | +104,013 |
| 21 |
 APH
|
AMPHENOL CORP NEW | COM | 2.8% | $379,712,723 | 2,809,773 | REDUCE | -213,458 |
| 22 |
 THC
|
TENET HEALTHCARE CORP | COM | 2.6% | $355,177,423 | 1,787,326 | NEW BUY | +1,787,326 |
| 23 |
 CLHB
|
CLEAN HARBORS INC | COM | 2.4% | $323,142,750 | 1,378,125 | NEW BUY | +1,378,125 |
| 24 |
 AFRM
|
AFFIRM HLDGS INC | COM | 2.1% | $284,111,963 | 3,817,170 | NEW BUY | +3,817,170 |
| 25 |
 ENTG
|
ENTEGRIS INC | COM | 1.9% | $257,318,878 | 3,054,230 | NEW BUY | +3,054,230 |
Position Changes
8 quarters available
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | CRS | CARPENTER TECHNOLOGY CORP | NEW BUY | +1,312,938 | New | 1,312,938 | $413,365,400 |
| 2 | - | SEA LTD | SOLD | -1,869,501 | Exit | - | - |
| 3 | CLHB | CLEAN HARBORS INC | NEW BUY | +1,378,125 | New | 1,378,125 | $323,142,750 |
| 4 | LPLA | LPL FINL HLDGS INC | REDUCE | -180,766 | -8.0% | 2,074,948 | $741,109,177 |
| 5 | BN | BROOKFIELD CORP | ADD | +5,742,012 | +56.4% | 15,923,360 | $730,722,990 |
| 6 | MDLN | MEDLINE INC | NEW BUY | +11,716,697 | New | 11,716,697 | $492,101,274 |
| 7 | - | META PLATFORMS INC | SOLD | -1,322,260 | Exit | - | - |
| 8 | TDG | TRANSDIGM GROUP INC | NEW BUY | +19,228 | New | 19,228 | $25,570,356 |
| 9 | KKR | KKR & CO INC | ADD | +920,524 | +22.6% | 5,001,085 | $637,538,316 |
| 10 | WING | WINGSTOP INC | ADD | +104,013 | +7.0% | 1,595,258 | $380,453,080 |
| 11 | BSX | BOSTON SCIENTIFIC CORP | NEW BUY | +201,703 | New | 201,703 | $19,232,381 |
| 12 | V | VISA INC | NEW BUY | +15,217 | New | 15,217 | $5,336,754 |
| 13 | VMC | VULCAN MATLS CO | ADD | +299,308 | +21.6% | 1,683,932 | $480,291,085 |
| 14 | CVNA | CARVANA CO | ADD | +14,037 | +0.8% | 1,779,328 | $750,912,003 |
| 15 | ENTG | ENTEGRIS INC | NEW BUY | +3,054,230 | New | 3,054,230 | $257,318,878 |
| 16 | - | CIENA CORP | SOLD | -2,006,662 | Exit | - | - |
| 17 | TLNE | TALEN ENERGY CORP | ADD | +100,000 | +8.4% | 1,292,516 | $484,486,697 |
| 18 | AVGO | BROADCOM INC | ADD | +180,804 | +11.7% | 1,730,216 | $598,827,758 |
| 19 | COF | CAPITAL ONE FINL CORP | REDUCE | -274,600 | -10.7% | 2,294,891 | $556,189,783 |
| 20 | ASML | ASML HOLDING N V | NEW BUY | +605,017 | New | 605,017 | $647,283,488 |
| 21 | DASH | DOORDASH INC | NEW BUY | +2,529,879 | New | 2,529,879 | $572,966,996 |
| 22 | NU | NU HLDGS LTD | ADD | +4,223,788 | +16.6% | 29,630,237 | $496,010,167 |
| 23 | AMZN | AMAZON COM INC | REDUCE | -397,408 | -14.1% | 2,414,520 | $557,319,506 |
| 24 | APP | APPLOVIN CORP | REDUCE | -328,608 | -29.6% | 780,530 | $525,936,725 |
| 25 | MA | MASTERCARD INCORPORATED | NEW BUY | +96,338 | New | 96,338 | $54,997,437 |
| 26 | AFRM | AFFIRM HLDGS INC | NEW BUY | +3,817,170 | New | 3,817,170 | $284,111,963 |
| 27 | APH | AMPHENOL CORP NEW | REDUCE | -213,458 | -7.1% | 2,809,773 | $379,712,723 |
| 28 | - | FLUTTER ENTMT PLC | SOLD | -1,733,336 | Exit | - | - |
| 29 | BKNG | BOOKING HOLDINGS INC | REDUCE | -26,521 | -85.1% | 4,630 | $24,795,178 |
| 30 | - | STARBUCKS CORP | SOLD | -5,561,954 | Exit | - | - |
| 31 | PM | PHILIP MORRIS INTL INC | REDUCE | -1,970,864 | -42.7% | 2,643,579 | $424,030,072 |
| 32 | VSTE | VISTRA CORP | ADD | +512,644 | +10.9% | 5,211,885 | $840,833,407 |
| 33 | - | ETSY INC | SOLD | -3,880,316 | Exit | - | - |
| 34 | SPOT | SPOTIFY TECHNOLOGY S A | NEW BUY | +17,762 | New | 17,762 | $10,314,571 |
| 35 | MSFT | MICROSOFT CORP | ADD | +25,520 | +2.1% | 1,234,125 | $596,847,533 |
| 36 | THC | TENET HEALTHCARE CORP | NEW BUY | +1,787,326 | New | 1,787,326 | $355,177,423 |
| 37 | - | EQT CORP | SOLD | -8,361,889 | Exit | - | - |
| 38 | HLT | HILTON WORLDWIDE HLDGS INC | NEW BUY | +57,817 | New | 57,817 | $16,607,933 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | SEA LTD | NEW BUY | +1,869,501 | New | 1,869,501 | $334,135,914 |
| 2 | - | INTUIT | SOLD | -771,666 | Exit | - | - |
| 3 | LPLA | LPL FINL HLDGS INC | ADD | +383,466 | +20.5% | 2,255,714 | $750,453,491 |
| 4 | BN | BROOKFIELD CORP | ADD | +4,559,963 | +81.1% | 10,181,348 | $698,236,846 |
| 5 | - | META PLATFORMS INC | REDUCE | -342,757 | -20.6% | 1,322,260 | $971,041,299 |
| 6 | KKR | KKR & CO INC | REDUCE | -1,141,208 | -21.9% | 4,080,561 | $530,268,902 |
| 7 | WING | WINGSTOP INC | NEW BUY | +1,491,245 | New | 1,491,245 | $375,316,542 |
| 8 | VMC | VULCAN MATLS CO | NEW BUY | +1,384,624 | New | 1,384,624 | $425,938,035 |
| 9 | CVNA | CARVANA CO | REDUCE | -383,500 | -17.8% | 1,765,291 | $665,938,377 |
| 10 | - | CIENA CORP | NEW BUY | +2,006,662 | New | 2,006,662 | $292,310,454 |
| 11 | TLNE | TALEN ENERGY CORP | ADD | +103,136 | +9.5% | 1,192,516 | $507,272,456 |
| 12 | - | UNITEDHEALTH GROUP INC | SOLD | -1,693,347 | Exit | - | - |
| 13 | AVGO | BROADCOM INC | NEW BUY | +1,549,412 | New | 1,549,412 | $511,166,513 |
| 14 | COF | CAPITAL ONE FINL CORP | REDUCE | -511,142 | -16.6% | 2,569,491 | $546,222,397 |
| 15 | ASML | ASML HOLDING N V | SOLD | -566,862 | Exit | - | - |
| 16 | NU | NU HLDGS LTD | NEW BUY | +25,406,449 | New | 25,406,449 | $406,757,248 |
| 17 | APP | APPLOVIN CORP | REDUCE | -467,796 | -29.7% | 1,109,138 | $796,960,019 |
| 18 | AMZN | AMAZON COM INC | REDUCE | -2,221,628 | -44.1% | 2,811,928 | $617,415,031 |
| 19 | APH | AMPHENOL CORP NEW | NEW BUY | +3,023,231 | New | 3,023,231 | $374,124,836 |
| 20 | - | FLUTTER ENTMT PLC | REDUCE | -129,428 | -6.9% | 1,733,336 | $440,267,344 |
| 21 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | REDUCE | -383,520 | -11.2% | 3,052,400 | $852,504,796 |
| 22 | BKNG | BOOKING HOLDINGS INC | REDUCE | -28,821 | -48.1% | 31,151 | $168,192,660 |
| 23 | - | WIX COM LTD | SOLD | -2,161,331 | Exit | - | - |
| 24 | PM | PHILIP MORRIS INTL INC | ADD | +1,856,749 | +67.3% | 4,614,443 | $748,462,655 |
| 25 | VSTE | VISTRA CORP | REDUCE | -1,770,478 | -27.4% | 4,699,241 | $920,675,297 |
| 26 | - | ETSY INC | NEW BUY | +3,880,316 | New | 3,880,316 | $257,614,179 |
| 27 | - | SALESFORCE INC | SOLD | -1,863,179 | Exit | - | - |
| 28 | MSFT | MICROSOFT CORP | REDUCE | -646,251 | -34.8% | 1,208,605 | $625,996,960 |
| 29 | - | EQT CORP | ADD | +843,662 | +11.2% | 8,361,889 | $455,137,618 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | INTUIT | REDUCE | -632,136 | -45.0% | 771,666 | $607,787,292 |
| 2 | LPLA | LPL FINL HLDGS INC | ADD | +108,233 | +6.1% | 1,872,248 | $702,036,833 |
| 3 | BN | BROOKFIELD CORP | NEW BUY | +5,621,385 | New | 5,621,385 | $347,682,662 |
| 4 | - | META PLATFORMS INC | REDUCE | -93,045 | -5.3% | 1,665,017 | $1,228,932,398 |
| 5 | KKR | KKR & CO INC | ADD | +457,998 | +9.6% | 5,221,769 | $694,651,930 |
| 6 | WING | WINGSTOP INC | SOLD | -449,056 | Exit | - | - |
| 7 | CVNA | CARVANA CO | REDUCE | -548,877 | -20.3% | 2,148,791 | $724,056,615 |
| 8 | - | UNITEDHEALTH GROUP INC | NEW BUY | +1,693,347 | New | 1,693,347 | $528,273,464 |
| 9 | COF | CAPITAL ONE FINL CORP | REDUCE | -95,510 | -3.0% | 3,080,633 | $655,435,477 |
| 10 | ASML | ASML HOLDING N V | REDUCE | -15,565 | -2.7% | 566,862 | $454,277,538 |
| 11 | - | ELI LILLY & CO | SOLD | -551,827 | Exit | - | - |
| 12 | AMZN | AMAZON COM INC | ADD | +680,816 | +15.6% | 5,033,556 | $1,104,311,851 |
| 13 | APP | APPLOVIN CORP | REDUCE | -332,594 | -17.4% | 1,576,934 | $552,053,055 |
| 14 | - | TOLL BROTHERS INC | SOLD | -3,800,580 | Exit | - | - |
| 15 | - | ARES MANAGEMENT CORPORATION | SOLD | -1,604,441 | Exit | - | - |
| 16 | - | CADENCE DESIGN SYSTEM INC | SOLD | -1,218,389 | Exit | - | - |
| 17 | - | FLUTTER ENTMT PLC | REDUCE | -357,132 | -16.1% | 1,862,764 | $532,303,441 |
| 18 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | REDUCE | -429,461 | -11.1% | 3,435,920 | $778,201,521 |
| 19 | BKNG | BOOKING HOLDINGS INC | NEW BUY | +59,972 | New | 59,972 | $347,192,301 |
| 20 | - | STARBUCKS CORP | REDUCE | -1,045,934 | -15.8% | 5,561,954 | $509,641,845 |
| 21 | - | WIX COM LTD | NEW BUY | +2,161,331 | New | 2,161,331 | $342,484,510 |
| 22 | PM | PHILIP MORRIS INTL INC | REDUCE | -250,848 | -8.3% | 2,757,694 | $502,258,808 |
| 23 | VSTE | VISTRA CORP | ADD | +1,864,931 | +40.5% | 6,469,719 | $1,253,896,239 |
| 24 | - | SALESFORCE INC | ADD | +131,499 | +7.6% | 1,863,179 | $508,070,282 |
| 25 | MSFT | MICROSOFT CORP | REDUCE | -105,472 | -5.4% | 1,854,856 | $922,623,923 |
| 26 | - | EQT CORP | NEW BUY | +7,518,227 | New | 7,518,227 | $438,462,999 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | WORKDAY INC | SOLD | -1,543,464 | Exit | - | - |
| 2 | - | BITDEER TECHNOLOGIES GROUP | SOLD | -986,717 | Exit | - | - |
| 3 | - | CONSTELLATION ENERGY CORP | SOLD | -1,737,526 | Exit | - | - |
| 4 | - | INTUIT | ADD | +247,040 | +21.4% | 1,403,802 | $861,920,390 |
| 5 | LPLA | LPL FINL HLDGS INC | REDUCE | -158,733 | -8.3% | 1,764,015 | $577,079,867 |
| 6 | - | META PLATFORMS INC | REDUCE | -278,868 | -13.7% | 1,758,062 | $1,013,276,614 |
| 7 | - | HUT 8 CORP | SOLD | -692,839 | Exit | - | - |
| 8 | KKR | KKR & CO INC | ADD | +715,628 | +17.7% | 4,763,771 | $550,739,565 |
| 9 | WING | WINGSTOP INC | NEW BUY | +449,056 | New | 449,056 | $101,298,052 |
| 10 | - | IREN LIMITED | SOLD | -711,839 | Exit | - | - |
| 11 | CVNA | CARVANA CO | NEW BUY | +2,697,668 | New | 2,697,668 | $564,028,425 |
| 12 | COF | CAPITAL ONE FINL CORP | REDUCE | -59,680 | -1.8% | 3,176,143 | $569,482,440 |
| 13 | ASML | ASML HOLDING N V | ADD | +140,661 | +31.8% | 582,427 | $385,933,603 |
| 14 | - | ELI LILLY & CO | REDUCE | -231,033 | -29.5% | 551,827 | $455,759,438 |
| 15 | - | LENNAR CORP | SOLD | -1,717,903 | Exit | - | - |
| 16 | AMZN | AMAZON COM INC | ADD | +563,706 | +14.9% | 4,352,740 | $828,152,312 |
| 17 | APP | APPLOVIN CORP | ADD | +824,415 | +76.0% | 1,909,528 | $505,967,634 |
| 18 | - | TOLL BROTHERS INC | NEW BUY | +3,800,580 | New | 3,800,580 | $401,303,242 |
| 19 | - | ARES MANAGEMENT CORPORATION | REDUCE | -72,602 | -4.3% | 1,604,441 | $235,227,095 |
| 20 | - | CADENCE DESIGN SYSTEM INC | NEW BUY | +1,218,389 | New | 1,218,389 | $309,872,874 |
| 21 | - | BLOCK INC | SOLD | -3,765,793 | Exit | - | - |
| 22 | - | FLUTTER ENTMT PLC | ADD | +307,377 | +16.1% | 2,219,896 | $491,817,959 |
| 23 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | ADD | +104,937 | +2.8% | 3,865,381 | $641,653,246 |
| 24 | - | STARBUCKS CORP | ADD | +132,831 | +2.1% | 6,607,888 | $648,167,734 |
| 25 | PM | PHILIP MORRIS INTL INC | REDUCE | -3,459,830 | -53.5% | 3,008,542 | $477,545,872 |
| 26 | VSTE | VISTRA CORP | REDUCE | -748,177 | -14.0% | 4,604,788 | $540,786,303 |
| 27 | - | SALESFORCE INC | ADD | +166,487 | +10.6% | 1,731,680 | $464,713,645 |
| 28 | - | CIPHER MINING INC | SOLD | -2,344,380 | Exit | - | - |
| 29 | SPOT | SPOTIFY TECHNOLOGY S A | SOLD | -913,564 | Exit | - | - |
| 30 | MSFT | MICROSOFT CORP | ADD | +320,631 | +19.6% | 1,960,328 | $735,887,528 |
| 31 | - | HOWMET AEROSPACE INC | SOLD | -3,061,707 | Exit | - | - |
| 32 | - | TERAWULF INC | SOLD | -1,480,928 | Exit | - | - |
| 33 | - | PTC INC | SOLD | -2,326,231 | Exit | - | - |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | WORKDAY INC | REDUCE | -60,921 | -3.8% | 1,543,464 | $398,260,016 |
| 2 | - | BITDEER TECHNOLOGIES GROUP | REDUCE | -311,248 | -24.0% | 986,717 | $21,382,157 |
| 3 | - | CONSTELLATION ENERGY CORP | REDUCE | -656,705 | -27.4% | 1,737,526 | $388,701,941 |
| 4 | - | INTUIT | ADD | +235,401 | +25.5% | 1,156,762 | $727,024,917 |
| 5 | LPLA | LPL FINL HLDGS INC | REDUCE | -257,389 | -11.8% | 1,922,748 | $627,796,449 |
| 6 | - | META PLATFORMS INC | ADD | +145,593 | +7.7% | 2,036,930 | $1,192,642,884 |
| 7 | - | HUT 8 CORP | REDUCE | -539,913 | -43.8% | 692,839 | $14,196,271 |
| 8 | KKR | KKR & CO INC | REDUCE | -474,587 | -10.5% | 4,048,143 | $598,760,831 |
| 9 | TLNE | TALEN ENERGY CORP | ADD | +233,165 | +27.2% | 1,089,380 | $219,477,389 |
| 10 | - | UNITEDHEALTH GROUP INC | SOLD | -821,880 | Exit | - | - |
| 11 | COF | CAPITAL ONE FINL CORP | NEW BUY | +3,235,823 | New | 3,235,823 | $577,011,957 |
| 12 | ASML | ASML HOLDING N V | REDUCE | -109,547 | -19.9% | 441,766 | $306,179,179 |
| 13 | - | GE VERNOVA INC | SOLD | -1,156,011 | Exit | - | - |
| 14 | - | ELI LILLY & CO | NEW BUY | +782,860 | New | 782,860 | $604,367,920 |
| 15 | - | LENNAR CORP | REDUCE | -1,209,751 | -41.3% | 1,717,903 | $234,270,432 |
| 16 | AMZN | AMAZON COM INC | REDUCE | -1,693,233 | -30.9% | 3,789,034 | $831,276,169 |
| 17 | APP | APPLOVIN CORP | REDUCE | -1,284,753 | -54.2% | 1,085,113 | $351,392,143 |
| 18 | - | ARES MANAGEMENT CORPORATION | REDUCE | -374,773 | -18.3% | 1,677,043 | $296,886,922 |
| 19 | - | BLOCK INC | REDUCE | -3,904,730 | -50.9% | 3,765,793 | $320,054,747 |
| 20 | - | FLUTTER ENTMT PLC | NEW BUY | +1,912,519 | New | 1,912,519 | $494,290,536 |
| 21 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | REDUCE | -452,417 | -10.7% | 3,760,444 | $742,650,086 |
| 22 | BKNG | BOOKING HOLDINGS INC | SOLD | -76,414 | Exit | - | - |
| 23 | - | STARBUCKS CORP | ADD | +2,424,207 | +59.8% | 6,475,057 | $590,848,951 |
| 24 | PM | PHILIP MORRIS INTL INC | ADD | +1,987,716 | +44.4% | 6,468,372 | $778,468,570 |
| 25 | VSTE | VISTRA CORP | REDUCE | -1,453,326 | -21.4% | 5,352,965 | $738,013,285 |
| 26 | - | SALESFORCE INC | REDUCE | -772,637 | -33.0% | 1,565,193 | $523,290,976 |
| 27 | - | CIPHER MINING INC | NEW BUY | +2,344,380 | New | 2,344,380 | $10,877,923 |
| 28 | SPOT | SPOTIFY TECHNOLOGY S A | REDUCE | -638,965 | -41.2% | 913,564 | $408,710,262 |
| 29 | MSFT | MICROSOFT CORP | REDUCE | -16,082 | -1.0% | 1,639,697 | $691,132,286 |
| 30 | - | TERAWULF INC | REDUCE | -1,586,868 | -51.7% | 1,480,928 | $8,382,052 |
| 31 | - | PTC INC | REDUCE | -221,968 | -8.7% | 2,326,231 | $427,724,094 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | WORKDAY INC | NEW BUY | +1,604,385 | New | 1,604,385 | $392,127,738 |
| 2 | - | BITDEER TECHNOLOGIES GROUP | NEW BUY | +1,297,965 | New | 1,297,965 | $10,163,066 |
| 3 | - | CONSTELLATION ENERGY CORP | ADD | +789,278 | +49.2% | 2,394,231 | $622,547,945 |
| 4 | - | INTUIT | ADD | +18,911 | +2.1% | 921,361 | $572,165,181 |
| 5 | LPLA | LPL FINL HLDGS INC | ADD | +495,067 | +29.4% | 2,180,137 | $507,165,270 |
| 6 | - | MCKESSON CORP | SOLD | -560,936 | Exit | - | - |
| 7 | - | META PLATFORMS INC | ADD | +496,900 | +35.6% | 1,891,337 | $1,082,676,952 |
| 8 | - | HUT 8 CORP | NEW BUY | +1,232,752 | New | 1,232,752 | $15,113,540 |
| 9 | - | AVIDXCHANGE HOLDINGS INC | SOLD | -5,078,341 | Exit | - | - |
| 10 | KKR | KKR & CO INC | REDUCE | -1,862,776 | -29.2% | 4,522,730 | $590,578,083 |
| 11 | - | IRIS ENERGY LTD | NEW BUY | +711,839 | New | 711,839 | $6,007,921 |
| 12 | - | UNITEDHEALTH GROUP INC | REDUCE | -122,437 | -13.0% | 821,880 | $480,536,798 |
| 13 | TLNE | TALEN ENERGY CORP | NEW BUY | +856,215 | New | 856,215 | $152,611,762 |
| 14 | - | GE VERNOVA INC | REDUCE | -320,997 | -21.7% | 1,156,011 | $294,759,685 |
| 15 | ASML | ASML HOLDING N V | REDUCE | -36,578 | -6.2% | 551,313 | $459,381,557 |
| 16 | - | LENNAR CORP | NEW BUY | +2,927,654 | New | 2,927,654 | $548,876,572 |
| 17 | AMZN | AMAZON COM INC | ADD | +1,033,987 | +23.2% | 5,482,267 | $1,021,510,810 |
| 18 | APP | APPLOVIN CORP | REDUCE | -3,332,572 | -58.4% | 2,369,866 | $309,386,006 |
| 19 | MA | MASTERCARD INCORPORATED | SOLD | -1,043,557 | Exit | - | - |
| 20 | - | ARES MANAGEMENT CORPORATION | ADD | +477,053 | +30.3% | 2,051,816 | $319,755,005 |
| 21 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | REDUCE | -1,789,337 | -29.8% | 4,212,861 | $731,647,570 |
| 22 | BKNG | BOOKING HOLDINGS INC | REDUCE | -28,763 | -27.3% | 76,414 | $321,864,938 |
| 23 | - | STARBUCKS CORP | NEW BUY | +4,050,850 | New | 4,050,850 | $394,917,367 |
| 24 | PM | PHILIP MORRIS INTL INC | REDUCE | -2,190,473 | -32.8% | 4,480,656 | $543,951,638 |
| 25 | VSTE | VISTRA CORP | REDUCE | -31,716 | -0.5% | 6,806,291 | $806,817,735 |
| 26 | - | BATH & BODY WORKS INC | SOLD | -11,315,515 | Exit | - | - |
| 27 | - | SALESFORCE INC | NEW BUY | +2,337,830 | New | 2,337,830 | $639,887,449 |
| 28 | SPOT | SPOTIFY TECHNOLOGY S A | REDUCE | -134,886 | -8.0% | 1,552,529 | $572,153,512 |
| 29 | MSFT | MICROSOFT CORP | REDUCE | -364,426 | -18.0% | 1,655,779 | $712,481,704 |
| 30 | - | HOWMET AEROSPACE INC | REDUCE | -603,614 | -16.5% | 3,061,707 | $306,936,127 |
| 31 | - | TERAWULF INC | NEW BUY | +3,067,796 | New | 3,067,796 | $14,357,285 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | WORKDAY INC | SOLD | -1,414,824 | Exit | - | - |
| 2 | - | EPAM SYS INC | SOLD | -929,917 | Exit | - | - |
| 3 | - | CONSTELLATION ENERGY CORP | ADD | +728,992 | +83.2% | 1,604,953 | $321,423,937 |
| 4 | - | META PLATFORMS INC | REDUCE | -743,380 | -34.8% | 1,394,437 | $703,103,024 |
| 5 | - | AVIDXCHANGE HOLDINGS INC | REDUCE | -2,291 | -0.0% | 5,078,341 | $61,244,792 |
| 6 | KKR | KKR & CO INC | REDUCE | -606,614 | -8.7% | 6,385,506 | $672,010,651 |
| 7 | - | UNITEDHEALTH GROUP INC | NEW BUY | +944,317 | New | 944,317 | $480,902,875 |
| 8 | - | DICKS SPORTING GOODS INC | SOLD | -1,198,897 | Exit | - | - |
| 9 | - | GE VERNOVA INC | NEW BUY | +1,477,008 | New | 1,477,008 | $253,321,642 |
| 10 | ASML | ASML HOLDING N V | ADD | +93,851 | +19.0% | 587,891 | $601,253,762 |
| 11 | AMZN | AMAZON COM INC | REDUCE | -45,201 | -1.0% | 4,448,280 | $859,630,110 |
| 12 | APP | APPLOVIN CORP | ADD | +382,767 | +7.2% | 5,702,438 | $474,556,890 |
| 13 | - | LIVE NATION ENTERTAINMENT IN | SOLD | -3,217,551 | Exit | - | - |
| 14 | MA | MASTERCARD INCORPORATED | ADD | +363,133 | +53.4% | 1,043,557 | $460,375,606 |
| 15 | - | ARES MANAGEMENT CORPORATION | NEW BUY | +1,574,763 | New | 1,574,763 | $209,884,413 |
| 16 | - | BLOCK INC | ADD | +934,588 | +13.9% | 7,670,523 | $494,672,028 |
| 17 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | REDUCE | -170,326 | -2.8% | 6,002,198 | $1,043,242,034 |
| 18 | BKNG | BOOKING HOLDINGS INC | ADD | +883 | +0.8% | 105,177 | $416,658,686 |
| 19 | VSTE | VISTRA CORP | ADD | +425,126 | +6.6% | 6,838,007 | $587,931,842 |
| 20 | - | BATH & BODY WORKS INC | ADD | +1,547,399 | +15.8% | 11,315,515 | $441,870,861 |
| 21 | - | SALESFORCE INC | SOLD | -2,400,267 | Exit | - | - |
| 22 | MSFT | MICROSOFT CORP | ADD | +90,287 | +4.7% | 2,020,205 | $902,930,625 |
| 23 | - | HOWMET AEROSPACE INC | NEW BUY | +3,665,321 | New | 3,665,321 | $284,538,869 |
| 24 | - | ICICI BANK LIMITED | SOLD | -9,642,665 | Exit | - | - |
| 25 | - | PTC INC | REDUCE | -419,759 | -14.1% | 2,548,199 | $462,931,312 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | WORKDAY INC | REDUCE | -133,046 | -8.6% | 1,414,824 | $385,893,246 |
| 2 | - | BLACKSTONE INC | SOLD | -2,219,023 | Exit | - | - |
| 3 | - | EPAM SYS INC | ADD | +79,657 | +9.4% | 929,917 | $256,805,879 |
| 4 | - | CONSTELLATION ENERGY CORP | NEW BUY | +875,961 | New | 875,961 | $161,921,391 |
| 5 | - | INTUIT | ADD | +153,923 | +20.6% | 902,450 | $586,592,500 |
| 6 | LPLA | LPL FINL HLDGS INC | REDUCE | -155,044 | -8.4% | 1,685,070 | $445,195,494 |
| 7 | - | MCKESSON CORP | NEW BUY | +560,936 | New | 560,936 | $301,138,492 |
| 8 | - | META PLATFORMS INC | REDUCE | -735,911 | -25.6% | 2,137,817 | $1,038,081,179 |
| 9 | KKR | KKR & CO INC | ADD | +766,056 | +12.3% | 6,992,120 | $703,267,430 |
| 10 | - | GENERAL ELECTRIC CO | SOLD | -2,103,885 | Exit | - | - |
| 11 | - | DICKS SPORTING GOODS INC | REDUCE | -1,724,013 | -59.0% | 1,198,897 | $269,583,979 |
| 12 | - | UNITEDHEALTH GROUP INC | SOLD | -891,167 | Exit | - | - |
| 13 | ASML | ASML HOLDING N V | ADD | +64,242 | +14.9% | 494,040 | $479,450,999 |
| 14 | AMZN | AMAZON COM INC | REDUCE | -971,308 | -17.8% | 4,493,481 | $810,534,103 |
| 15 | APP | APPLOVIN CORP | NEW BUY | +5,319,671 | New | 5,319,671 | $368,227,627 |
| 16 | - | LIVE NATION ENTERTAINMENT IN | REDUCE | -127,745 | -3.8% | 3,217,551 | $340,320,369 |
| 17 | MA | MASTERCARD INCORPORATED | REDUCE | -420,366 | -38.2% | 680,424 | $327,671,786 |
| 18 | - | HDFC BANK LTD | SOLD | -4,643,541 | Exit | - | - |
| 19 | - | BLOCK INC | ADD | +129,666 | +2.0% | 6,735,935 | $569,725,382 |
| 20 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | REDUCE | -775,400 | -11.2% | 6,172,524 | $839,771,890 |
| 21 | BKNG | BOOKING HOLDINGS INC | REDUCE | -48,207 | -31.6% | 104,294 | $378,366,117 |
| 22 | PM | PHILIP MORRIS INTL INC | ADD | +3,665,338 | +121.9% | 6,671,129 | $611,208,839 |
| 23 | VSTE | VISTRA CORP | NEW BUY | +6,412,881 | New | 6,412,881 | $446,657,162 |
| 24 | - | BATH & BODY WORKS INC | REDUCE | -680,756 | -6.5% | 9,768,116 | $488,601,162 |
| 25 | - | SALESFORCE INC | REDUCE | -99,363 | -4.0% | 2,400,267 | $722,912,415 |
| 26 | SPOT | SPOTIFY TECHNOLOGY S A | NEW BUY | +1,687,415 | New | 1,687,415 | $445,308,819 |
| 27 | MSFT | MICROSOFT CORP | ADD | +118,109 | +6.5% | 1,929,918 | $811,955,101 |
| 28 | - | ICICI BANK LIMITED | REDUCE | -2,399,598 | -19.9% | 9,642,665 | $254,662,783 |
| 29 | - | PTC INC | REDUCE | -198,505 | -6.3% | 2,967,958 | $560,765,985 |
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