Robert Pitts’ Steadfast Capital filed 13G for its passive stake of 5.07% in GrafTech International Ltd. (GTI) on October 11th. The firm now has 7.37 million shares in GTI, almost double from its previous quarter’s 3.80 million shares holding. Besides, Steadfast Capital made no other filing against GTI after its last 13F. GTI tumbled in the third quarter after it dramatically crashed in early August. The stock has lost 25% so far. Steadfast Capital might enter at about $13 when the stock dropped to its 52-week low on October 4th. Now GTI is trading at $14.90 after days of rallying.
In the second quarter, seventeen hedge fund portfolios had GTI. Chuck Royce’s Royce & Associates had 14.64 million shares after a decrease of 6% from Q1, giving the firm a 10.07% stake of GTI. Robert Pohly’s Samlyn Capital had 7.37 million shares or 5.07% stake, increasing by 10%. Robert Pitts’ Steadfast Capital expanded its position by 61% and owned 3.80 million shares as mentioned above.
Steadfast Capital Management is a New York-based privately owned hedge fund, providing services to pooled investment vehicles. The firm has a 13F portfolio of more than $2.7 billion, mainly investing in Financial, Technology, Basic Materials, and Healthcare sector. (Click to see another Steadfast Capital's 13G filing for $OPEN on October 4th)
GrafTech International Ltd. engages in manufacturing and selling synthetic and natural graphite and carbon based products. The company has Industrial Materials segment and Engineered Solutions segment. The company markets its products through direct sales forces, independent sales representatives, and distributors. GrafTech International Ltd. was founded in 1886 with its headquarter in Parma, Ohio.