Lone Pine Capital LLC bought more than 25 million shares of El Paso Corp. (EP:US) in the first quarter, making the hedge fund one of the energy firm’s biggest owners.
Lone Pine, run by Stephen F. Mandel Jr., more than quadrupled its stake in Houston-based El Paso, according to a regulatory filing today. The Greenwich, Connecticut-based hedge fund is now El Paso’s second-biggest shareholder after Vanguard Group Inc., according to data (EP:US) compiled by Bloomberg. Icahn Associates Corp., previously the biggest shareholder, sold its entire stake, according to a subsequent filing.
The hedge fund also more than doubled its holding in Green Mountain Coffee Roasters Inc., the Waterbury, Vermont-based company that ousted Robert P. Stiller as chairman after he sold shares to meet a margin call.
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