Lone Pine buys GE Vernova, exits Live Nation in Q2

Stephen Mandel’s Lone Pine Capital disclosed in an SEC filing its holdings as of June 30, 2024. The fund’s four new buys during the second quarter included, by size of position, UnitedHealth (UNH), Howmet (HWM), GE Vernova (GEV), and Ares Management (ARES). Lone Pine exited a number of positions during the quarter, including by size of previous position Salesforce (CRM), Workday (WDAY), Live Nation (LYV), Dick’s Sporting (DKS), and Epam Systems (EPAM). The fund increased its stake in a number of holdings, including by size of previous position Constellation Energy (CEG), Vistra (VST), Mastercard (MA), ASML (ASML), and AppLovin (APP). Lone Pine reduced its stake in several holdings, including by size of previous position Meta (META), PTC (PTC), KKR (KKR), AvidXchange (AVDX), and Amazon (AMZN). The fund’s top holdings as of June 30, in order of size, were TSMC (TSM), Microsoft (MSFT), Amazon, Meta, and Philip Morris (PM).