Lone Pine Capital Spelling Errors Put Automated Traders To The Test
Today is the final day of the quarter for hedge fund managers to submit 13F documents to the SEC. It's basically another exciting holiday for the Wall Streeters who like to geek-out on spreadsheets and the complex holdings of some of the world's largest money managers.
One firm that stands out after Monday's close is Lone Pine Capital LLC.
Lone Pine Capital's 13F shows the company holds 5,073,108 shares of Adboe Systems. Yes, Adboe. Clearly, Lone Pine Capital means Adobe Systems Incorporated (NYSE: ADBE) but if you have an automated system using the delayed and clunky SEC filing database, you would likely have one confused platform on your hand.
Not only does Lone Pine Capital own Adobe and Adboe, the fund also has a position in Ulta Salon Cosmetcs & Fragrance from their last report floating around although we assume this means the fund owns Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ: ULTA).
Spelling is everything and errors are certainly forgivable, but for a firm as well known and professional as Lone Pine Capital, this is certainly an embarrassing mistake to make two times in a row.
Ultra Costmetics misspelling from Lone Pine Capitals last 13F:
As of Monday, Lone Pine increased their Adobe stake and decreased their Ulta Cosmetics stake.
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