market folly

Thomas Steyer's hedge fund Farallon Capital has filed an amended 13G with the SEC on shares of FreightCar America (RAIL). Farallon is now showing a 9.9% ownership stake with an aggregate of 1,180,000 shares. While this is an increase from the 6.2% Farallon stake we covered back in March of 2009, Farallon has not added shares since September 30th, 2009. Their 13F filing (which details positions as of Sept. 30th) shows the same share total of 1,180,000. So, nothing really new to report here other than the fact that they still own it. Recent activity out of Farallon includes them selling shares of Knology (KNOL) and adding to their Beacon Roofing position (BECN).

Taken from Google Finance, FreightCar America is "a manufacturer of aluminum-bodied railcars in North America, based on the number of railcars delivered. The Company specializes in the production of aluminum-bodied coal-carrying railcars, with a range of railcar types, including aluminum-bodied and steel-bodied railcars. It also refurbish and rebuild railcars and sell forged, cast and fabricated parts for all of the railcars it produces, as well as those manufactured by others. The Company’s primary customers are railroads, shippers and financial institutions."