Lone Pine Capital LLC and related reporting persons disclose that they no longer beneficially own any shares of Etsy Inc. common stock. As of the event date of 12/31/2025, each reporting person lists 0 shares beneficially owned, representing 0% of Etsy’s common stock.
The filing is an amendment to a Schedule 13G, which is used by certain large, generally passive investors to report holdings. The group also certifies that the securities were not acquired or held for the purpose of changing or influencing control of Etsy.
Positive
None.
Negative
None.
Insights
Lone Pine and related parties report a full exit from Etsy, now at 0% ownership.
The filing shows Lone Pine Capital LLC and associated individuals reporting 0 shares and 0% beneficial ownership of Etsy Inc. common stock as of 12/31/2025. This uses Schedule 13G/A, typically associated with passive or non‑control-seeking investors.
The certification states the position was not acquired or held to influence control, aligning with a passive ownership stance. The key change is that a prior 5%‑plus holder now reports owning less than that threshold. Actual market impact depends on when and how any prior stake was reduced.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
ETSY INC
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
29786A106
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
29786A106
1
Names of Reporting Persons
Lone Pine Capital LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
29786A106
1
Names of Reporting Persons
David F. Craver
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
29786A106
1
Names of Reporting Persons
Brian F. Doherty
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
29786A106
1
Names of Reporting Persons
Kelly A. Granat
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
29786A106
1
Names of Reporting Persons
Stephen F. Mandel, Jr.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
29786A106
1
Names of Reporting Persons
Kerry A. Tyler
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
ETSY INC
(b)
Address of issuer's principal executive offices:
117 Adams Street, Brooklyn, New York 11201
Item 2.
(a)
Name of person filing:
This statement is filed by:
(i) Lone Pine Capital LLC, a Delaware limited liability company ("Lone Pine Capital"), which serves as investment manager to Lone Spruce, L.P., a Delaware limited partnership ("Lone Spruce"), Lone Cascade, L.P., a Delaware limited partnership ("Lone Cascade"), Lone Sierra, L.P., a Delaware limited partnership ("Lone Sierra"), Lone Cypress, Ltd., a Cayman Islands exempted company ("Lone Cypress"), and Lone Monterey Master Fund, Ltd., a Cayman Islands exempted company ("Lone Monterey Master Fund", and together with Lone Spruce, Lone Cascade, Lone Sierra and Lone Cypress, the "Lone Pine Funds"), with respect to the common stock, par value $0.001 per share ("Common Stock"), of Etsy, Inc., a Delaware corporation, that were directly held by each of the Lone Pine Funds. Lone Pine Capital had the authority to dispose of and vote the shares of Common Stock that were directly held by the Lone Pine Funds;
(ii) David F. Craver ("Mr. Craver"), Brian F. Doherty ("Mr. Doherty"), Kelly A. Granat ("Ms. Granat"), and Kerry A. Tyler ("Ms. Tyler"), each an Executive Committee Member of Lone Pine Managing Member LLC, which is the Managing Member of Lone Pine Capital, with respect to the shares of Common Stock that were directly held by each of the Lone Pine Funds; and
(iii) Stephen F. Mandel, Jr. ("Mr. Mandel"), the Managing Member of Lone Pine Managing Member LLC, which is the Managing Member of Lone Pine Capital, with respect to the shares of Common Stock that were directly held by each of the Lone Pine Funds.
The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. None of the Reporting Persons directly own any shares of Common Stock.
The filing of this statement should not be construed as an admission that any of the Reporting Persons is, for the purposes of Section 13 of the Securities Exchange Act of 1934, the beneficial owner of the shares of Common Stock reported herein.
(b)
Address or principal business office or, if none, residence:
The address of the business office of each of the Reporting Persons is Two Greenwich Plaza, Suite 220, Greenwich, Connecticut 06830.
(c)
Citizenship:
Lone Pine Capital is a limited liability company organized under the laws of the State of Delaware. Mr. Craver, Mr. Doherty, Ms. Granat, Mr. Mandel and Ms. Tyler are United States citizens.
(d)
Title of class of securities:
Common Stock, par value $0.001 per share
(e)
CUSIP No.:
29786A106
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(b)
Percent of class:
0%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Lone Pine Capital LLC
Signature:
/s/ Kerry A. Tyler
Name/Title:
Kerry A. Tyler, Managing Director, Chief Operating Officer
Date:
02/17/2026
David F. Craver
Signature:
/s/ David F. Craver
Name/Title:
David F. Craver, individually and as an Executive Committee Member of Lone Pine Managing Member LLC, as Managing Member of Lone Pine Capital LLC
Date:
02/17/2026
Brian F. Doherty
Signature:
/s/ Brian F. Doherty
Name/Title:
Brian F. Doherty, individually and as an Executive Committee Member of Lone Pine Managing Member LLC, as Managing Member of Lone Pine Capital LLC
Date:
02/17/2026
Kelly A. Granat
Signature:
/s/ Kelly A. Granat
Name/Title:
Kelly A. Granat, individually and as an Executive Committee Member of Lone Pine Managing Member LLC, as Managing Member of Lone Pine Capital LLC
Date:
02/17/2026
Stephen F. Mandel, Jr.
Signature:
/s/ Stephen F. Mandel, Jr.
Name/Title:
Stephen F. Mandel, Jr., individually and as Managing Member of Lone Pine Managing Member LLC, as Managing Member of Lone Pine Capital LLC
Date:
02/17/2026
Kerry A. Tyler
Signature:
/s/ Kerry A. Tyler
Name/Title:
Kerry A. Tyler, individually and as an Executive Committee Member of Lone Pine Managing Member LLC, as Managing Member of Lone Pine Capital LLC
What does the new Schedule 13G/A filing mean for Etsy (ETSY)?
The filing shows Lone Pine Capital LLC and related parties now report owning 0 shares, or 0%, of Etsy common stock. It confirms they are no longer beneficial owners above reporting thresholds as of 12/31/2025, updating the market on their position.
How many Etsy (ETSY) shares does Lone Pine Capital now own?
Lone Pine Capital LLC and all listed reporting persons each report 0 shares of Etsy common stock beneficially owned. The cover pages and Item 4 state 0.00 shares and 0% of the class, indicating a complete exit from reportable ownership levels.
When did Lone Pine’s reportable ownership in Etsy (ETSY) fall to 0%?
The event date that triggered this amended Schedule 13G is 12/31/2025. As of that date, the reporting persons disclose 0 shares of Etsy common stock and 0% beneficial ownership, meaning they no longer meet the Schedule 13G reporting threshold.
Are Lone Pine and related parties seeking control of Etsy (ETSY)?
No. The certification states the securities were not acquired and are not held to change or influence control of Etsy. It also notes they are not held in connection with any control-related transaction, other than activities solely tied to a specific nomination rule reference.
Who are the reporting persons in the Etsy (ETSY) Schedule 13G/A?
The reporting persons are Lone Pine Capital LLC and individuals David F. Craver, Brian F. Doherty, Kelly A. Granat, Stephen F. Mandel, Jr., and Kerry A. Tyler. They report past authority or roles related to Lone Pine funds that previously held Etsy common stock.
What percentage of Etsy (ETSY) does each reporting person now hold?
Each reporting person lists 0.00 shares and 0% of the class on their cover page. Item 4(b) explicitly states the percent of Etsy common stock beneficially owned is 0%, confirming no reportable ownership for any of the named parties.
