market folly

Andreas Halvorsen's hedge fund firm Viking Global has filed a 13G with the SEC regarding shares of US Steel (X).  Per the filing, Viking now owns 5.5% of the company with over 9.66 million shares. 

This is a newly disclosed equity position for the firm and the filing was made due to portfolio activity on February 27th.  This is now around a $425 million position, making it a top-20 US holding in their portfolio. 

Per Google Finance, US Steel is "an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular). The Flat-Rolled segment includes the operating results of its integrated steel plants and equity investees in the United States involved in the production of slabs, rounds, strip mill plates, sheets and tin mill products, as well as all iron ore and coke production facilities in the United States. The USSE segment includes the operating results of U. S. Steel Kosice (USSK) and its integrated steel plant and coke production facilities in Slovakia. The Tubular segment includes the operating results of its tubular production facilities, primarily in the United States and equity investees in the United States and Brazil."