Lone Pine Capital Adds to B/E Aerospace, Dollar General & DSW ~ market folly

Tuesday, August 27, 2013

Lone Pine Capital Adds to B/E Aerospace, Dollar General & DSW

Steve Mandel's hedge fund firm Lone Pine Capital has filed 3 separate 13G's with the SEC.  Here's the breakdown:

B/E Aerospace (BEAV)

First, Lone Pine has disclosed a 5% ownership stake in B/E Aerospace (BEAV) with 5,285,850 shares.  The 13G filed with the SEC was required due to portfolio activity on August 16th and represents a 22% increase in their position size since the end of Q2.

BEAV was analyzed in our premium Hedge Fund Wisdom newsletter last November and is up over 58% since then. Lone Pine originally started their BEAV position back in the first quarter of 2012.

Per Google Finance, B/E Aerospace is "a manufacturer of cabin interior products for commercial aircraft and business jets and distributor of aerospace fasteners and consumables. The Company sells its products directly to the airlines and aerospace manufacturers. It also designs, engineers and manufactures customized fully integrated thermal and power management solutions for participants in the defense industry, aerospace original equipment manufacturers (OEMs) and the airlines. In addition, it provides aircraft cabin interior reconfiguration, program management and certification services. The Company operates in three segments: commercial aircraft, consumables management and business jet."

Dollar General (DG)

Second, Mandel's hedge fund also revealed a 5.4% ownership stake in Dollar General (DG) with 17,684,604 shares.  The 13G was filed with the SEC due to trading activity on August 14th.  Their position size has increased almost 30% since the end of Q2.

Per Google Finance, Dollar General is "a discount retailer in the United States primarily in the southern, southwestern, midwestern and eastern United States. The Company offers a selection of merchandise, including consumables, seasonal, home products and apparel. The Company's merchandise includes national brands from manufacturers, as well as private brand selections with prices at substantial discounts to national brands. It offers its merchandise at everyday low prices through its convenient small-box (approximately 7,200 square feet) locations"


Lastly, Lone Pine has disclosed a 5.6% ownership stake in DSW (DSW) with 2,045,064 shares.  This means they've over doubled their exposure to this name since the end of the second quarter.

The 13G Lone Pine filed with the SEC signifies portfolio activity on August 16th.

Per Google Finance, DSW is "a United States branded footwear and accessories specialty retailer.  DSW has two segments: the DSW segment, which includes the DSW stores and dsw.com sales channels, and the leased business division segment"

For more on this hedge fund, we've also highlighted some of Lone Pine's other activity here.

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