market folly

Stephen Mandel's hedge fund Lone Pine Capital after the market close filed two separate 13G's with the SEC, both which reflect portfolio activity as of August 12th, 2010. Firstly, Lone Pine Capital has disclosed a 5.8% ownership stake in Equinix (EQIX) with 2,664,251 shares. As you'll see in our impending second quarter hedge fund update, Lone Pine started Equinix (EQIX) as a brand new position in Q2 and they owned 1,731,835 shares as of June 30th, 2010. In the month and a half that has elapsed since then, Lone Pine has increased its stake by almost 54%, adding 932,416 more shares. This portfolio activity comes after we saw Lone Pine add to its stake in Lincare Holdings (LNCR).

Secondly, Mandel's hedge fund has also disclosed a 5.6% ownership stake in Dick's Sporting Goods (DKS) with 5,054,663 shares. This is a brand new position for the hedge fund. Lone Pine did not show a position in DKS as of June 30th, which means they could have built this position in Dick's Sporting Goods anytime over the past month and a half. However, they've obviously done some recent buying that took them over the regulatory threshold which required them to file the 13G with the SEC.

Taken from Google Finance, Equinix "provides global network neutral data center services. The Company operates 49 International Business Exchange (IBX) centers, or IBX data centers, across 18 markets in North America, Europe and Asia-Pacific where customers directly interconnect with a networked ecosystem of partners and customers."

Dick's Sporting Goods is "a sporting goods retailer offering a range of brand name sporting goods equipment, apparel, and footwear in a specialty store environment. As of January 30, 2010, the Company operated 419 Dick’s Sporting Goods stores in 40 states and 91 Golf Galaxy stores in 31 states."

Click here to scroll through Lone Pine's investments that we've continuously updated.