Stephen Mandel's Lone Pine exits Meta, PayPal in Q4, takes stakes in AMD, Salesforce
Darren415

Lone Pine Capital took stakes in major companies such as Advanced Micro Devices (NASDAQ:AMD) and Salesforce (NYSE:CRM) in Q4, while exiting its positions in Facebook-owner Meta (NASDAQ:META) and PayPal (NASDAQ:PYPL), among others.
The Greenwich, Conn.-based hedge fund, founded by manager Stephen Mandel in 1997, disclosed the information in its latest 13F filing for the three months ended Dec. 31, 2022 published on Tuesday.
Lone Pine took a stake of 3.9M shares in AMD and a much smaller stake of about 549K shares in CRM.
Additionally, Lone Pine took stakes of 1.4M shares in biotech Moderna (MRNA), 1.8M class A shares in flooring & tile products retailer Floor & Decor (FND), around 653K class A shares in drilling contractor Valaris (VAL) and ~7K shares in credit-reporting company Equifax (EFX).
Other companies exited by Lone Pine in Q4 were software firm Autodesk (ADSK), payments company Block (SQ) and oil and natural gas producers EQT (EQT) and Chesapeake Energy (CHK).
Lone Pine in Q4 raised its stake significantly in First Citizen Bancshares (FCNCA) to about 176K class A shares from around 65K shares in Q3.
Lone Pine also raised its stake in Amazon.com (NASDAQ:AMZN) to 9.6M shares in Q4 from 6.7M shares in Q3. Furthermore, the hedge fund increased its stake in Microsoft (NASDAQ:MSFT) to 3.5M shares in Q4 from 2.8M shares in Q3.
Lone Pine cut its stake in software engineering company EPAM Systems (EPAM) to ~602K shares from 1.2M shares in Q3. The firm also cut its stake in medical device firm Thermo Fisher (TMO) to about 587K shares from around 885K shares in Q3.