Lone Pine Capital and certain principals report a shared beneficial ownership stake in Wingstop Inc. The filing shows the Lone Pine Funds, through Lone Pine Capital, and five named reporting persons together have shared voting and dispositive power over 1,491,245 shares of Wingstop common stock, representing 5.3% of the company's outstanding shares based on 27,923,753 shares outstanding as reported by the company. The statement clarifies Lone Pine Capital acts as investment manager for multiple affiliated funds and the named individuals are members or managers of the Lone Pine governance structure. The filing also states these securities were not acquired to change or influence control of the issuer.
Positive
Material disclosure of ownership: Lone Pine reports a >5% stake (1,491,245 shares), providing transparency on a sizable holder.
Clearness on voting/dispositive power: The filing specifies shared voting and shared dispositive power, clarifying how authority is exercised.
Passive intent stated: The certification declares the shares were not acquired to change or influence control of the issuer.
Negative
None.
Insights
TL;DR: Lone Pine's >5% stake is material and likely to attract investor attention but is presented as passive.
The report documents a 5.3% position (1,491,245 shares) held by Lone Pine Funds with shared voting and dispositive authority. From a market-impact perspective, a disclosed stake above 5% is material because it places the investor among the larger public holders and may influence liquidity and activist speculation. The filing, however, includes a certification that the position was not acquired to change control, indicating an intent to remain passive at this time. Investors should note the ownership is exercised through an investment manager and affiliated entities, concentrating influence across multiple related funds rather than direct individual holdings.
TL;DR: The filing reveals centralized voting/dispositive authority but asserts no intent to influence control; monitoring is warranted.
The disclosure shows shared voting and dispositive power among Lone Pine Capital and five named members, indicating coordinated decision-making within the Lone Pine governance structure. While the filing explicitly states the shares are not held to effect a change in control, the combination of an investment manager and named executive committee members having shared authority is governance-relevant because it consolidates stewardship over a material block. This merits attention to any future amendments or Schedule 13D filings that could signal a shift in intent.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Wingstop Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
974155103
(CUSIP Number)
09/19/2025
(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.
974155103
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
1,491,245.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,491,245.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,491,245.00
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)
5.3 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
974155103
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
1,491,245.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,491,245.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,491,245.00
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)
5.3 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
974155103
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
1,491,245.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,491,245.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,491,245.00
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)
5.3 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
974155103
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
1,491,245.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,491,245.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,491,245.00
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)
5.3 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
974155103
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
1,491,245.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,491,245.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,491,245.00
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)
5.3 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
974155103
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
1,491,245.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,491,245.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,491,245.00
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)
5.3 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Wingstop Inc.
(b)
Address of issuer's principal executive offices:
2801 N Central Expressway, Suite 1600, Dallas, Texas 75204
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 $0.01 per share ("Common Stock") of Wingstop Inc., a Delaware corporation (the "Company") directly held by each of the Lone Pine Funds. Lone Pine Capital has the authority to dispose of and vote the shares of Common Stock 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 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 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 $0.01 per share
(e)
CUSIP No.:
974155103
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.
The percentage set forth in this Schedule 13G is calculated based upon 27,923,753 shares of Common Stock outstanding as of July 29, 2025, as reported in the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 28, 2025, filed with the Securities and Exchange Commission on July 30, 2025.
(b)
Percent of class:
5.3%
(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.
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
See Item 2(a).
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:
09/26/2025
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:
09/26/2025
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:
09/26/2025
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:
09/26/2025
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:
09/26/2025
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
How many Wingstop (WING) shares does Lone Pine Capital report owning?
The filing reports beneficial shared ownership of 1,491,245 shares of Wingstop common stock.
What percentage of Wingstop does the Lone Pine position represent?
The reported position represents 5.3% of Wingstop's outstanding common stock, based on 27,923,753 shares outstanding.
Does Lone Pine state an intent to influence control of Wingstop (WING)?
The filing includes a certification that the securities were not acquired and are not held for the purpose of changing or influencing control of the issuer.
Who are the individual reporting persons named with Lone Pine?
The named reporting persons are David F. Craver, Brian F. Doherty, Kelly A. Granat, Stephen F. Mandel, Jr., and Kerry A. Tyler, each associated with Lone Pine's management structure.
Through what entities does Lone Pine exercise authority over the shares?
Lone Pine Capital serves as investment manager to multiple Lone Pine Funds (e.g., Lone Spruce, Lone Cascade, Lone Sierra, Lone Cypress, Lone Monterey Master Fund) and has authority to vote and dispose of the shares held by those funds.
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