market folly

Stephen Mandel's hedge fund firm Lone Pine Capital just filed an amended 13G with the SEC regarding shares of VanceInfo Technologies (VIT). Lone Pine now owns 10.1% of VanceInfo with 4,507,146 shares.

This marks a 7% increase in their share count as they owned 4,192,821 shares back at the end of the first quarter. In the past three and a half months, Lone Pine has purchased 314,325 additional VIT shares.

Back in late 2010, we detailed how Lone Pine added to its VIT stake and we noted then that the majority of this position was contained in their Lone Dragon Pine fund, their emerging markets investment vehicle. That continues to remain the case.

In additional recent portfolio activity from the hedge fund, we covered how Lone Pine bought more iSoftStone (ISS) and added to its WABCO (WBC) stake as well.

Per Google Finance, VanceInfo "is an information technology (IT) service provider and an offshore software development company in China. The Company’s range of IT services includes research and development services, enterprise solutions, application development and maintenance (ADM), testing, as well as globalization and localization."