In a significant portfolio shift, Stephen Mandel's Lone Pine Capital drastically reduced its position in global alternative asset manager Brookfield Corp. by over 92%. According to regulatory filings, the fund's holdings fell from 11.21 million shares to just under 793,000. This substantial sale lowered the position's weight in Lone Pine's reported portfolio from 3.62% to a mere 0.21%.
The transactions took place during the second quarter ending June 30, 2026, and were publicly disclosed in a 13F filing on August 14. This required quarterly disclosure provides a delayed look into institutional investment activity. During the same period that Lone Pine was selling, Brookfield reported strong results, including a 15% year-over-year increase in distributable earnings and record fundraising.