market folly

Steve Mandel's hedge fund firm Lone Pine Capital just filed two 13G's with the SEC:

VeriSign (VRSN)

First, Lone Pine has started a brand new position in VeriSign (VRSN).  The hedge fund now owns 5.5% of the company with just over 8.6 million shares.  They did not own any VRSN at the close of the second quarter and the SEC filing was made due to portfolio activity on August 17th.

VeriSign (VRSN), a provider of internet infrastructure services, was purchased by numerous hedge funds in the second quarter and the company is analyzed in the brand new issue of our premium newsletter that was just released.  So definitely check it out to see the bull and bear case on the name.


BE Aerospace (BEAV)

Second, Mandel's firm has boosted its stake in BE Aerospace (BEAV).  Per the 13G filing, Lone Pine now owns 5.7% of the company with 5,955,262 shares.  This marks an increase of 31% in their position size since the end of June.

Back in July, the company reaffirmed EPS guidance for FY 2012 and raised revenue guidance for FY 2012.  Lone Pine filed the disclosure due to portfolio activity on August 17th.

Per Google Finance, BE 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."


To see the rest of Lone Pine's US stock portfolio, their portfolio changes are broken down in our Hedge Fund Wisdom newsletter.