Stephen Mandel’s Lone Pine Capital disclosed in an SEC filing its holdings as of March 31, 2025. The fund’s four new buys included, by size of position, Carvana (CVNA), Toll Brothers (TOL), Cadence (CDNS), and Wingstop (WING). The fund exited a number of positions during the quarter, including by size of previous position PTC (PTC), Spotify (SPOT), Workday (WDAY), Constellation Energy (CEG), and Howmet (HWM). Lone Pine increased its stake in Intuit (INTU), ASML (ASML), AppLovin (APP), Starbucks (SBUX), and Microsoft (MSFT), and reduced its stake in Philip Morris (PM), Vistra (VST), Meta (META), Eli Lilly (LLY), and Ares Management (ARES). The fund’s top holdings as of March 31, in order of size, were Meta, Intuit, Amazon (AMZN), and Starbucks.
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