An article in Barron’s reports that Steve Mandel–“the most successful fundamental stock picker of them all”—stepped down as portfolio manager of Lone Pine Capital in January.

The article notes that Mandel, who was not well-known outside of the hedge fund industry, generated “tens of billions of dollars in gains for his clients over the past two decades and established one of the best investment track records ever.” The article includes praise from Mandel’s peers, including Seth Klarman and Paul Tudor Jones.

According to estimates from LCH Investments, Lone Pine generated $26 billion in total profits for its investors since inception and through 2018, ranking seventh in the industry and representing “the top fund that is solely focused on fundamental stock-picking versus other macro, quant and credit strategies.” In its January letter to investors, the firm explained that it looks for “strong businesses run by great management teams and for companies with competitive advantages.”

The article notes that Mandel, a Tiger Cub (he once worked for industry great Julian Roberson’s fund) “didn’t go out on a high note, however,” reporting that in 2018 Lone Pine’s long-short hedge funds declined by about 5%. The firm has said he will continue to advise the firm and will remain a member of its management committee. Mandel is also involved in philanthropic endeavors including the Lone Pine Foundation (which he founded) and is board chair of Teach for America.

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