Hedge Funds Cash In As Cytec Industries Inc (CYT) Sold To Solvay For $5.5 Billion

At the top of the hedge fund heap was Passport Capital, managed by John Burbank, which held the most valuable position in Cytec Industries Inc (NYSE:CYT). Passport Capital had a $124.3 million position in the stock, comprising 3.2% of its 13F portfolio. The second-most bullish hedge fund manager was Citadel Investment Group, managed by Ken Griffin, which held a $30.8 million position, though less than 0.1% of its large 13F portfolio was allocated to the stock. Some other peers that held long positions comprised Israel Englander‘s Millennium Management, Paul Marshall and Ian Wace’s Marshall Wace LLP, and John Overdeck and David Siegel’s Two Sigma Advisors.

Some of the funds with new positions just in time for the latest gains were Christopher A. Winham’s Tide Point Capital and Steve Cohen’s Point72 Asset Management. From an exposure perspective, Ian Mukherjee‘s Amiya Capital was looking good, with the fund having nearly 7% exposure to the stock in its small portfolio, setting it up for notable returns. Some of the funds which surely regret moving out of the stock too soon include Jacob Gottlieb’s Visium Asset Management, and Matthew Tewksbury’s Stevens Capital Management.

Disclosure: None