Lone Pine Capital Sold Apple, While Buying Facebook in Quarter

Lone Pine Capital LLC sold stakes in Apple Inc. and Autozone Inc. in the fourth quarter, while adding to its holdings of Google Inc.

Lone Pine, run by Stephen Mandel Jr., sold 805,269 shares of Apple, valued at $537.2 million, according to a regulatory filing today. The Cupertino, California-based technology firm, maker of the iPhone and iPad, fell 20 percent in the quarter. Greenwich, Connecticut-based Lone Pine also sold all its 7.2 million shares of Dunkin’ Brands Group Inc.

New holdings include Facebook Inc., with Lone Pine buying 10.9 million shares in the quarter, according to the Form 13F filing. Lone Pine added about 485,000 shares of Mountain View, California-based Google, bring its stake to 1.55 million shares. The hedge fund also bought call options on 2.3 million shares of Herbalife Ltd., even as the marketer of nutritional supplements tumbled 31 percent during the quarter.

Money managers who oversee more than $100 million in equities must file a Form 13F with the Securities and Exchange Commission within 45 days of each quarter’s end to list their U.S.-traded stocks, options and convertible bonds. The filings don’t show non-U.S. securities or how much cash the firms hold.

To contact the reporter on this story: Elizabeth Dexheimer in New York at edexheimer@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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