Welcome to Extreme Investor Network, where we bring you the latest insights and trends in the world of investing. Today, we are excited to share with you some exclusive information about Lone Pine Capital’s recent investment moves.
Lone Pine Capital, founded by Stephen Mandel in 1997, has caught the attention of many investors with its new bets on high-performing power producers and a big streaming company in the first quarter. According to a Securities and Exchange Commission filing, Lone Pine added a $446.7 million position in Vistra Corp. and a $161.9 million stake in Constellation Energy. Both of these stocks have seen impressive growth in 2024, with Vistra shares soaring 141% and Constellation Energy advancing 85%, thanks to intense artificial intelligence-related electricity demand.
But that’s not all – Lone Pine also made a significant investment in Spotify, with a stake worth more than $445 million at the end of March. The stock has seen a 59% increase this year. Additionally, the hedge fund added new positions in McKesson, a drug and medical supplies distributor, and AppLovin, a mobile tech company, with investments of about $368 million and $300 million, respectively.
On the other hand, Lone Pine decided to cut its holdings in three big tech companies: Meta Platforms, Taiwan Semiconductor, and Amazon. While the hedge fund slightly raised its stake in Microsoft, it significantly reduced its position in Meta, even though it remains the largest holding in its portfolio. Lone Pine also doubled its stake in tobacco maker Philip Morris International and exited positions in UnitedHealth Group and GE Aerospace.
These strategic moves by Lone Pine Capital shed light on the dynamic landscape of investing and the importance of staying ahead of market trends. As we continue to monitor the ever-changing market environment, be sure to stay tuned to Extreme Investor Network for more exclusive insights and expert analysis on investment opportunities.