Lone Pine Capital erased a 44% gain in a single quarter
As seen on the 24/7 Wall St. homepage on October 12, 2026.
One of the most watched Tiger Cub funds erased a 44% first half in a single quarter, a warning for anyone crowded into the same growth names Lone Pine owns.
BREAKING: Lone Pine Capital’s hedge fund has given back nearly all of its 2026 gains, falling from up 44% through June to up just 0.6% at the end of Q3. https://t.co/rTVbGn74wc
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Lone Pine Capital's hedge fund entered the third quarter of 2026 sitting on a 44% gain for the year. By the end of Q3 that lead had collapsed to 0.6%, handing back virtually an entire year's outperformance in roughly three months.
Lone Pine is one of the most closely followed Tiger Cub funds, the generation of hedge funds that spun out of Julian Robertson's Tiger Management. Its portfolio moves carry outsized weight because so many other growth-oriented funds tend to own overlapping positions in the same names.
When a fund this size and this widely tracked suffers a drawdown of this speed, the risk for other investors is crowding. Funds holding the same growth stocks face pressure to reduce exposure at the same time, which can accelerate losses across the category well beyond what any single manager's selling would cause.
With Q3 now closed and performance letters hitting inboxes, any additional redemption pressure on Lone Pine would force further portfolio adjustments in the weeks ahead, keeping those shared positions in focus.