market folly

Larry Robbins' hedge fund firm Glenview Capital recently filed a 13G with the SEC regarding shares of Community Health Systems (CYH).  Per the filing, Glenview has disclosed a 8.39% ownership stake in CYH with 7,649,773 shares.

This marks a 368% increase in the number of shares they owned since the end of September.  The new disclosure was required due to portfolio activity on November 13th.

Per Google Finance, Community Health Systems is "an operator of hospitals in the United States. The Company provides healthcare services through the hospitals that it owns and operates in non-urban and selected urban markets throughout the United States."

Hospitals have been a big portfolio theme for Glenview as they also own large stakes in Tenet Healthcare (THC), HCA (HCA), and Lifepoint (LPNT).  Tenet has been the biggest wager of the basket and we've highlighted how Glenview has been buying THC as well.