Lone Pine Capital doubled down on technology stocks in the fourth quarter, just in time to benefit from the big rebound, a new regulatory filing showed. Stephen Mandel's hedge fund significantly increased its holdings in Microsoft and Amazon , making them top bets at the end of the fourth quarter, the filing showed. The latest filing with the Securities and Exchange Commission revealed its long positions as of the end of 2022.
The 66-year-old investor has stepped back from day-to-day management at the firm. The Greenwich, Connecticut-based hedge fund also added to its Taiwan Semiconductor stake, making its its fifth biggest holding at the end of December. The chipmaker's stock is up more than 22% this year. However, Warren Buffett's Berkshire Hathaway dumped a big chunk of its stake in the semi name last quarter. Lone Pine increased its exposure in the semiconductor industry last quarter.