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Lone Pine Rejiggers Flagship Fund

The firm shook up its Lone Cypress fund’s portfolio last quarter, though it still maintained a big position in Valeant.

Stephen Mandel Jr.’s Greenwich, Connecticut–based Lone Pine Capital made several significant changes to the top holdings in Lone Cypress, the firm’s flagship long-short equity fund. But perhaps most significant is that Lone Cypress stood pat with its large position in Valeant Pharmaceuticals International. Although the embattled drug giant slipped from being

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