market folly

Steve Mandel's hedge fund Lone Pine Capital just filed a 13G with the SEC regarding shares of Williams Sonoma (WSM). They crossed the 5% ownership threshold on September 20th according to the filing and now 5.6% of the company with 5,824,323 shares.

This is a brand new position for the hedge fund as they did not report owning any shares at the end of the second quarter. In other activity from this manager, we detailed how Lone Pine doubled its SolarWinds position as well.

Per Google Finance, Williams Sonoma is "a specialty retailer of products for the home. The Company has two segments: direct-to-customer and retail. The direct-to-customer segment has six merchandising concepts Williams-Sonoma, Pottery Barn, Pottery Barn Kids, PBteen, West Elm and Williams-Sonoma Home. The retail segment has four merchandising concepts, Williams-Sonoma, Pottery Barn, Pottery Barn Kids, and West Elm, operating 592 retail stores located in 44 states."