market folly

Stephen Mandel's hedge fund Lone Pine Capital has updated its stake in VanceInfo Technologies (VIT). Per a 13G filed with the SEC, Lone Pine has disclosed a 6.6% ownership stake in VIT with 2,616,404 shares. This disclosure was made due to portfolio activity on August 24th and marks a 127% increase in their position size. Back on June 30th, Lone Pine owned only 1,149,089 shares of VIT. You can view the rest of Lone Pine's updated portfolio in our brand new publication, hedge fund wisdom by market folly.

Mandel's position in VanceInfo Technologies sticks with the information technology theme he seems to be playing. Cognizant Technology (CTSH), one of his fund's largest holdings, is also in the IT business. The majority of Lone Pine's VIT position is held in its Lone Dragon Pine fund, an investment vehicle focused primarily on emerging markets. In other recent activity, we've also detailed Lone Pine's new position in Dick's Sporting Goods (DKS) and raised stake in Equinix (EQIX).

Taken from Google Finance, VanceInfo Technologies 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. The Company offers its services, through its network of onsite and offsite delivery locations, primarily in China".

For more of the latest moves from Lone Pine Capital, head to our post on their addition to Lincare Holdings (LNCR) as well.