market folly

Stephen Mandel's hedge fund Lone Pine Capital filed a 13G with the SEC regarding shares of SolarWinds (SWI). Due to portfolio activity on August 19th, Lone Pine now shows a 5.2% ownership stake in the company with 3,766,081 shares.

This is an increase in their position size of 97.5% as they've almost doubled their stake since the end of the second quarter on June 30th.

Mandel's hedge fund has been busy buying lately and we've detailed how Lone Pine likes information technology plays and their SWI purchase falls right under that theme.

Per Google Finance, SolarWinds "designs, develops, markets, sells and supports enterprise information technology (IT) infrastructure management software to IT professionals in organizations of all sizes. The Company’s offerings ranges from individual software tools to software products, which solve problems faced every day by IT professionals and help to enable management of networks and IT environments."