Lone Pine Capital LLC 13F holdings and portfolio analysis
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Baseline
분석 메시지이 펀드에 대한 사전 생성된 Q&A. 자신의 분석을 위한 참조 컨텍스트로 사용하세요.
Directly following the baseline exposes an investor to a concentrated, cyclical stock-picking book with meaningful implementation drag from filing lag and turnover. The baseline artifact shows top-5 concentration at 31.57%, top-10 at 56.42%, and top-20 at 93.83%, led by VST at 7.43%, CVNA at 6.65%, LPLA at 6.55%, KKR at 5.64%, and AVGO at 5.30%. Sector weight is heaviest in Financials at 24.55%, Information Technology at 20.86%, Consumer Discretionary at 20.37%, and Utilities at 11.72%. The backtest also required 1,048 trades and 5.81 total estimated cost, with risk notes explicitly warning that delayed filing dates materially lag the manager.
The best example of the baseline trade-off is that its strongest excess periods were very strong, but several weak periods still interrupted the path. In recent period data, 2024-06-30 returned 30.70% versus 9.83% for SPY, a 20.88% excess return, while 2023-09-30 added 16.61% versus 10.11%, a 6.51% excess. But weak stretches were also material: 2024-03-31 returned -4.58% versus 2.31% for SPY (-6.89% excess), 2025-06-30 returned -3.40% versus 4.20% (-7.60% excess), and 2023-12-31 lagged by -3.37%. Turnover stayed elevated in both strong and weak periods, ranging from 24.71% to 49.57% in the recent sample, so the excess return came with active trading and uneven quarter-to-quarter results.
A user should inspect three things next: concentration, turnover, and whether the current leaders match their own tolerance for lagged 13F copying. Concentration is high with top-10 weight at 56.42% in the baseline artifact, and the current leaders are VST, CVNA, LPLA, KKR, AVGO, and MSFT. Turnover is also non-trivial, with quarterly turnover hitting 49.57% at 2024-09-30 and 42.85% at 2025-03-31, while the risk notes mention 1,048 trades overall. Finally, recent changes matter: the latest baseline view is still heavy in cyclicals and financials, and the public investor is acting after disclosure lag, which the artifact explicitly flags as a material risk.