Funds Reveal New Positions in Peabody Energy Corporation (BTU), BIND Therapeutics Inc (BIND)

Balyansny Asset’s latest move doesn’t come as a surprise given its recent interest in energy stocks. The fund, which was founded in 2001, employs a macro investing strategy that results in a high degree of turnover in its equity portfolio, which was valued at $12.92 billion as of September 30. The fund opened nearly 500 new positions during the third quarter of 2014, though the majority of them weren’t nearly as prominent as their newest one.

As with their recent large new position in Oasis Petroleum Inc. (NYSE:OAS), their investment in Peabody Energy Corporation (NYSE:BTU) comes after a rough stretch for the stock due to plummeting oil prices. Peabody is down 52.31% over the past six months, which meant they actually fared better than Oasis, which tumbled 66.85% over that same period. Prior to that, Balyasny revealed a bullish new stance on NuStar GP Holdings, LLC (NYSE:NSH) back in October, the parent company of NuStar Energy L.P. (NYSE:NS), whom Balyasny also took a position in during the third quarter of 2014.

Peabody Energy Corporation (NYSE:BTU) is a thermal coal mining company which owns interests in 28 coal mines located in Australia and the United States. Their most recent quarterly guidance came in below expectations, with an expected loss per share of $0.32 to $0.39, as opposed to analysts estimates of a $0.24 per share loss. They likewise slashed their dividend from $0.085 per share to just $0.0025 per share in an effort to save money. Despite an initial drop following the results, the stock has rebounded strongly throughout February, up 21.19%.

Peabody Energy Corporation (NYSE:BTU) was one of the top picks of David Iben’s Kopernik Global Investors, representing 11.49% of their equity portfolio as of September 30, with 3.39 million shares. They had raised their position 91% during the previous quarter. Daniel Bubis’ Tetrem Capital Management also had a large 2.03 million share stake in the company, though that represented a smaller percentage of their much larger equity portfolio.

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