Lone Pine takes new stakes in Alphabet, LPL; exits Snap, DoorDash while boosting Thermo Fisher

Aug. 16, 2022 12:20 PM ETEQT, MSFT, BKNG, MA, TSM, UNH, DKS, TMO, V, FICO, LPLA, EPAM, META, NOW, WDAY, GOOGL, SHOP, PYPL, SNAP, SQ, TEAM, DASH, DDOG, BILL, VSCOBy: Ravikash, SA News Editor2 Comments

Wall street sign with American flag in the Financial District of Lower Manhattan

Damien VERRIER

  • Greenwich, Conn.-based Lone Pine Capital disclosed in a SEC filing that it acquired new positions in eight holdings which were largely fintech including Alphabet Class A (GOOGL), LPL Financial (LPLA), PayPal (PYPL); and exited eight positions, some of which were consumer stocks, as of June 30.
  • The Stephen Mandel managed private investment management firm had a portfolio value of ~$10.61B.
  • The fund acquired stakes in LPL Financial with 2.29M shares; EQT (EQT) with 6.35M shares; PayPal with 4.28M shares; Epam Systems (EPAM) with 1.27M shares; Alphabet with ~172K shares. Other additions include, Booking (BKNG) and Fair Isaac (FICO).
  • Lone Pine exited eight positions during the quarter, which included Snap (SNAP), DoorDash (DASH), Datadog (DDOG), Victoria's Secret (VSCO), and Bill.com (BILL).
  • The fund boosted its stake in seven holdings, Thermo Fisher (TMO) by ~79% to ~932K shares; Meta (META) by 36.8% to ~5.01M shares; Dick's Sporting Goods (DKS) by ~34.4% to ~5.01M shares; Taiwan Semiconductor Manufacturing (TSM) to ~8.93M shares, and Atlassian (TEAM) to ~1.62M shares.
  • Lone Pine reduced its stake in Block (SQ) by 99.2% to ~23.79K shares; Shopify (SHOP) by 97.58% to 25K shares; Visa (V) by 37.22% to ~2.16M shares; Mastercard (MA) by 36.14% to ~1.54M shares; ServiceNow (NOW) by 34.7% to ~1.29M shares; Microsoft (MSFT) by 30.33% to ~3.48M shares. The fund also lowered its stake in Workday (WDAY) and UnitedHealth (UNH).

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