Stephen Mandel

Stephen Mandel Jr. is an American investor, the founder and manager of the hedge fund Lone Pine Capital, one of the most prominent “Tiger Cubs” — funds established by former employees of Julian Robertson’s Tiger Management. Since 2019, Mandel has stepped back from day-to-day management, handing over leadership to his team, while remaining involved in the company’s strategic development. The fund follows a strategy based on deep fundamental analysis and the selection of companies with durable competitive advantages. It is known for its ability to adapt to changing market conditions, as demonstrated by its successful recovery after a difficult 2022 and strong performance in the following years. Every investment at Lone Pine is built on exhaustive research of the company, its industry, competitors, and management. It is almost a private equity–style approach applied to public equities. The fund makes large bets on big ideas and does not believe in diversification.