Market Chatter: Lone Pine Capital's Cypress Hedge Fund Erases Most of 2026 Gains

MT newswire2026/10/09 23:00

07:00 PM EDT, 10/09/2026 (MT Newswires) -- Lone Pine Capital's Cypress hedge fund has lost nearly all of its gains this year and was up just 0.6% through September, Bloomberg reported Friday, citing people familiar with the matter. The fund fell nearly 25% in July alone and about 30% in the third quarter, the people said. It had been up 44% through June. Wrong-way long bets and short positions drove the losses, Bloomberg said. Lone Pine's long-only fund, which holds about 75% of the firm's $19 billion in assets, was up 6.7% through September, down from nearly 39% through June, one of the people said. Lone Pine did not immediately respond to a request for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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