market folly

David Einhorn's hedge fund Greenlight Capital started a brand new stake in Huntington Ingalls industries (HII) per a 13G just filed with the SEC. Due to portfolio activity on July 15th, Greenlight has disclosed a 5.1% ownership stake in HII with 2,510,000 shares.

Huntington Ingalls was spun-off from Northrop Grumman (NOC) and started trading in April 2011. NOC operates in the security industry focusing on aerospace, information and electronic systems, etc. Since being spun-off, shares of HII are down almost 15%.

To read up on the rest of recent portfolio activity from this hedge fund, head to Greenlight Capital's Q2 letter as well as Einhorn's presentation from the Ira Sohn Conference.

Per Google Finance, Huntington Ingalls Industries Inc (HII) "designs, builds and maintains nuclear and non-nuclear ships for the United States Navy and Coast Guard, and provides aftermarket services for military ships around the globe. HII’s business divisions are Ingalls Shipbuilding and Newport News Shipbuilding (NNS)."

And to learn to invest like Einhorn, check out his recommended reading list.