Lone Pine Capital, founded by Stephen Mandel Jr. in 1996, achieved significant growth in 2024 with $5 billion in investor gains, recovering from a challenging 2022 where funds suffered losses of 32% and 42%. Mandel personally earned $500 million, coinciding with the firm's assets under management of $18.2 billion. In Q3 2024, Lone Pine adjusted its portfolio by selling off its long-held Bath & Body Works shares and reinvesting in Starbucks, demonstrating strategic repositioning in a recovering market. Despite prior losses, the hedge fund's future outlook appears optimistic thanks to proactive management and investment strategies.
Lone Pine Capital made around $5 billion in investment gains for its investors in 2024 after suffering significant losses in 2022, indicating a strong recovery led by Stephen Mandel Jr.
The firm's assets under management sit at $18.2 billion, with significant adjustments in Q3 2024, including closing positions and new investments, particularly spotlighting Starbucks.
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