market folly

In an amended 13G filed with the SEC, Thomas Steyer's hedge fund firm Farallon Capital has updated their stake in Knology (KNOL). They are now showing a 9.3% ownership stake in the company with 3,342,394 shares. The filing was made due to activity on December 31st, 2009 and this is a slight decrease in their position. According to their last disclosure of positions on September 30th, 2009, Farallon owned 3,924,177 shares. This means that they have sold 581,783 shares, a 14.8% decrease over the past three and a half months. You can view the rest of Farallon's portfolio here.

We've also covered other activity out of Thomas Steyer's hedge fund firm over the past few months. They recently added to their Beacon Roofing (BECN) stake and made a few portfolio and internal firm adjustments as well. Farallon is a multi-billion dollar hedge fund founded in 1986 that typically employs risk arbitrage strategies.

Taken from Google Finance, Knology is "an integrated provider of video, voice, data and advanced communications services to residential and business customers in 10 markets in the Southeastern United States and two markets in the Midwestern United States. The Company provides its services over its wholly owned, fully upgraded minimum 750 megahertz interactive broadband network."