market folly

Stephen Mandel's Lone Pine Capital has been scooping up shares of certain companies in the recent market turmoil.

Per a 13G just filed with the SEC, the hedge fund has disclosed a 7.3% ownership stake in iSoftStone Holdings due to trading on June 13th. They now own 3,816,216 American depositary shares (ticker ISS on the NYSE). This represents 38,162,160 ordinary shares.

Lone Pine's recent purchases mean they've increased their position size in ISS by 50% since the end of the first quarter when they owned 2,542,436 shares. In other recent activity from the hedge fund, Lone Pine bought more WABCO Holdings (WBC) as well.

Per Google Finance, iSoftStone is "an information technology (IT) services provider. They are focused on serving clients in four industry verticals: technology; communications; banking, financial services and insurance (BFSI), and energy, transportation and public sector."

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