With Its Long Book Posting Solid Gains, Here Are Greenlight Capital’s Top Equity Portfolio Changes

Syngenta AG (ADR) (NYSE:SYT)

– Shares Held By Greenlight Capital (as of December 31): 925,000

– Value of The Holding (as of December 31): $73.12 Million

Syngenta AG (ADR) (NYSE:SYT) was a new entrant in Greenlight Capital’s equity portfolio during the fourth quarter. In the last four years, shares of the agrochemicals company haven’t delivered any returns barring for the dividends. However, currently the stock is trading up 8% year-to-date. In February last year, Chinese state-owned agrochemical company ChemChina agreed to acquire Syngenta AG (ADR) (NYSE:SYT) for $43 billion. Although, this deal was expected to get completed by the first quarter of 2017, it has faced several regulatory hurdles over the past few months and is now expected to get completed by the second quarter. On February 16, analysts at Jefferies Group LLC downgraded Syngenta’s stock to ‘Hold’ from ‘Buy’.

Chemours Co (NYSE:CC)

– Shares Held By Greenlight Capital (as of December 31): 8.94 Million

– Value of The Holding (as of December 31): $197.6 Million

Chemours Co (NYSE:CC) fell four positions in Greenlight’s equity portfolio during the fourth quarter and became its tenth largest equity holding at the end of December owing largely to the fund reducing its stake in the company by 45% during the October-December period.  Shares of the performance chemicals manufacturer have appreciated by over 500% since Greenlight Capital initiated its stake in the company during the last quarter of 2015 and have doubled since September 2016. Hence, Greenlight Capital’s decision to lower its holding can be seen as a move to take sizable profits off the table. Chemours Co (NYSE:CC) became a separate publicly traded company in July 2015 after it was spun-off from E I Du Pont De Nemours And Co (NYSE:DD). On February 13, both companies agreed to each pay half of the $670.7 million in settlements to resolve over 3,500 personal injury lawsuits arising from a leak of perfluorooctanoic acid from a plant in West Virginia.