market folly

Steve Cohen's hedge fund firm SAC Capital just filed two 13G's with the SEC:

Magellan Health Services

SAC filed a 13G regarding its stake in Magellan Health Services (MGLN) and per the filing, SAC has revealed a 5% ownership stake with 1,380,530 shares.

They've substantially increased their holdings in MGLN since the end of the second quarter as they only held 16,300 shares then.  Trading activity on September 21st took them over the regulatory threshold required to file.

Per Google Finance, Magellan Health Services is "engaged in the specialty managed healthcare business. The Company provides services to health plans, insurance companies, employers, labor unions and various governmental agencies. It provides managed behavioral healthcare services, radiology benefit management services, and drug benefits management services."


Bill Barrett Corp

Second, the hedge fund firm also ratcheted up its position in Bill Barrett Corp (BBG).  They now show a 5.5% ownership stake in the company with 2,659,491 shares. 

This is an increase of around 827% in their position size since the end of the second quarter as they only owned a small position back then.  The SEC filing was required due to portfolio activity on September 20th.

Per Google Finance, Bill Barrett "explores for and develops oil and natural gas in the Rocky Mountain region of the United States."

We've posted up other portfolio activity from SAC Capital here.