market folly

Stephen Mandel's prominent hedge fund Lone Pine Capital has disclosed a 6.0% ownership stake in WABCO Holdings (WBC) with 4,058,927 shares per a 13G just filed with the SEC.

This marks almost a 213% increase in their position size. At the end of the first quarter, they only owned 1,297,495 shares. To see the rest of Lone Pine's investments, head to a free sample of our Hedge Fund Wisdom newsletter.

This year, Mandel graced the esteemed Forbes billionaire list again. Prior to founding Lone Pine, Mandel worked at Julian Robertson's Tiger Management as a managing director and consumer analyst. The hedge fund manager named his fund after a historical 'lone pine' tree at Dartmouth College, his alma mater.

WABCO Holdings provides mechanical and electronic products for commercial manufacturers of trucks, trailers, buses and more. For more from this fund, we've also covered some of Lone Pine's other trades this year.