Lone Pine Capital made new bets on some high-performing power producers and one big streaming company in the first quarter, a new Securities and Exchange Commission filing shows.
Lone Pine, founded by Stephen Mandel in 1997, added a $446.7 million position in Vistra Corp. and a $161.9 million stake in Constellation Energy in the first quarter.
Lone Pine also added new positions in drug and medical supplies distributor McKesson and mobile tech company AppLovin , worth about $368 million and $300 million, respectively.
The new additions came as Lone Pine significantly cut its holdings in three big tech companies: Meta Platforms, Taiwan Semiconductor and Amazon .
Microsoft is Lone Pine's third-largest position, trailing Taiwan Semiconductor, which Lone Pine reduced by 11%.
Persons:
Lone Pine, Stephen Mandel, Mandel, Mark Zuckerberg, Philip Morris, Julian Robertson
Organizations:
Lone Pine Capital, Securities and Exchange Commission, Vistra Corp, Constellation Energy, Constellation, Taiwan Semiconductor, Microsoft, Meta, Philip Morris International, UnitedHealth Group, GE Aerospace, GE, Cubs
Locations:
Lone, Vistra, U.S, Greenwich , Connecticut, Meta