market folly

James Crichton and Adam Weiss' hedge fund Scout Capital Management recently updated its position in Domino's Pizza (DPZ). Per portfolio activity on February 23rd, Scout has now revealed a 5.07% ownership stake in DPZ with 3,040,000 shares.

This recent SEC 13G filing marks almost a 21% increase in their position size since the end of last year. At 2010 year-end, Scout previously owned 2,519,600 DPZ shares.

For other activity from the hedge fund, we've detailed some of Scout's other positions here. Signs of a 'fast food' theme are evident in Scout's portfolio as they also own Yum! Brands (YUM) and McDonald's (MCD), the latter in size.

Scout manages over $4 billion and was founded in 1999. Before founding Scout, Weiss worked at Dan Loeb's Third Point and earned his MBA from Columbia University and undergraduate degree from Harvard. Crichton previously worked at Zweig-DiMenna and earned his MBA at Harvard.

Per Google Finance, Domino’s Pizza, Inc. (Domino’s) is "a pizza delivery company in the United States. The Company operates through a network of 8,999 company-owned and franchise stores, located in all 50 states and in more than 60 international markets. It operates in three segments: domestic stores, domestic supply chain and international."