Founded by Stephen Mandel in 1997. Run by David Craver & Kelly Granat since 2019. Owns a few dozen fast-growing companies, from chip-equipment makers to builders of data centers.
If you’d given them $1,000 on January 1, by September 30 you’d have
You usually can’t invest in these funds: they’re for very wealthy people and institutions, often with millions to put in. The $1,000 is just a way to picture how they did.
$1,006
$1,006
0.6% in 2026, through Sep 30
The rose 11.8% over the same months (not counting dividends, the cash some companies pay their owners).
S&P 500 data: S&P Dow Jones Indices LLC, via FRED.
What they own
Biggest bets first. The % is how much of their stock money is in that company. Tap a stock to open its page.
Already owned
Added lately
Sold lately
A full bar is 10% of their money.
Just bought
21
Between April and June, compared with the report before.
Sold
28
Dollar amounts use the price on Jun 30, 2026, or on Mar 31, 2026 for stocks they sold completely.
Year by year
Each calendar year’s result for Lone Cypress, Lone Pine’s main fund. Lone Pine doesn’t publish its results. These figures are from news reports, which don’t say whether fees were taken out. 2015, 2017 and 2019 quote Lone Pine’s own letters. Years without a reliable figure are left blank.
From Jan 1, 1998 to Dec 31, 2018, it grew 14.4% a year on average. Up in 7 of the 9 years shown, down in 2.
Not investment advice. For information and education only. Holdings: SEC Form 13F filings and the funds’ own letters. Returns: as reported by the funds or the press, linked at each number. Investors and money managed: the managers’ Form ADV filings with the SEC. Not affiliated with the SEC or any fund.