Stephen Mandel's Lone Pine Capital Buys the Dip in VanceInfo Technologies (VIT)

Stephen Mandel's hedge fund firm Lone Pine Capital has been busy buying lately. In an amended 13G just now filed with the SEC, Lone PIne has disclosed a whopping 17.6% ownership stake in VanceInfo Technologies (VIT) with 7,862,536 shares.

Per portfolio activity on August 19th, Mandel's hedge fund has ramped up its position size by buying an additional 7.5% of the company. We recently covered how Lone Pine bought VIT in late July and back in late 2010 as well.

Lone Pine Likes Information Technology

Since Lone Pine's additional buy just three trading days ago, shares of VIT are down a little lower around $11.84. VIT operates in the information technology sector and some investors seem to think that the company's underlying business could be slowing down at a rapid rate, given that more than half their business is in China.

Lone Pine also has a large position in another information technology company. The hedge fund has long held a stake in Cognizant Technology Solutions (CTSH) and it's their second largest US equity long position as detailed in our brand new issue of Hedge Fund Wisdom.

A solid portion of Lone Pine's position in VIT is in its Lone Dragon Pine fund, which focuses on emerging markets. For other buys from this hedge fund, yesterday we posted up their position in Michael Page International.

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."

Lone Pine Capital Buys More VanceInfo Technologies (VIT)

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."