Stephen Mandel's Lone Pine Capital Starts TransDigm Group (TDG) Position ~ market folly

Wednesday, October 13, 2010

Stephen Mandel's Lone Pine Capital Starts TransDigm Group (TDG) Position

Stephen Mandel's hedge fund firm Lone Pine Capital just filed a 13G with the SEC regarding shares of TransDigm Group (TDG). Per the filing, detailing portfolio activity on September 29th, Lone Pine has disclosed a 5.0% ownership stake in TDG with 2,479,871 shares. This is a brand new position and the majority of shares reside in their Lone Cascade fund.

In the past, TransDigm Group had been a sizable position for Chase Coleman's fellow hedge fund Tiger Global Management. Additionally, this has been one of Dan Loeb's largest equity positions both as detailed months ago in our newsletter, Hedge Fund Wisdom.

In terms of other recent portfolio activity from Mandel's hedge fund, we noted Lone Pine's sale of Intertek Group as well as an increase in their VanceInfo Technologies stake (VIT). Mandel founded Lone Pine after previously working at Julian Robertson's Tiger Management. Lone Pine is named after a historical lone pine tree at Mandel's alma mater, Dartmouth College.

Taken from Google Finance, TransDigm Group is "a global designer, producer and supplier of highly engineered aircraft components for use on commercial and military aircraft."

To see the rest of Lone Pine's positions, click here.

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