Lone Pine buys Broadcom, exits Intuit in Q3

Stephen Mandel’s Lone Pine Capital disclosed in an SEC filing its holdings as of September 30, 2025. The fund’s new buys during the third quarter included, by size of position, Broadcom (AVGO), Vulcan Materials (VMC), Nubank (NU), Wingstop (WING), and Amphenol (APH). Lone Pine exited a number of positions during the quarter, including by size of previous position Intuit (INTU), UnitedHealth (UNH), Salesforce (CRM), ASML (ASML), and Wix.com (WIX). The fund increased its stake in a number of positions, including by size of previous position Brookfield (BAM), Philip Morris (PM), Talen Energy (TLN), LPL Financial (LPLA), and EQT Corp (EQT). Lone Pine decreased its positions in Amazon (AMZN), Vistra (VST), Microsoft (MSFT), Meta (META), and Booking (BKNG). The fund’s top holdings as of September 30, in order of size, were Meta, Vistra, TSMC (TSM), AppLovin (APP), and LPL Financial.