In a separate filing, Point72 disclosed holding 3.72 million shares of Globe Specialty Metals Inc (NASDAQ:GSM), representing an increase from 497,200 shares held at the end of September. The stake is equivalent to 5.0% of the company’s common stock. Point72 Asset Management is a family office that manages the assets of its founder, Steven A. Cohen, and other eligible employees. Point72 is considered the descendant of SAC Capital Advisors, Cohen’s hedge fund that stopped managing money for outside investors in early 2014. Cohen’s long/short investment firm oversees a public equity portfolio worth $12.74 billion as of September 30.
Having a market cap of $773.13 million, Globe Specialty Metals Inc. (NASDAQ:GSM) produces silicon metal and silicon-based alloys. In September, shareholders of GSM approved the company’s proposed combination with Grupo FerroAtlántica to create a top international silicon and specialty metals producer. The deal, creating a new holding company named Ferroglobe PLC, is expected to close before the end of this year. Other large shareholders of Globe Specialty Metals include Clifton S. Robbins’ Blue Harbour Group and Phill Gross and Robert Atchinson’s Adage Capital Management, holding 7.0 million shares and 2.31 million shares, respectively, as of the end of September.
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In the third filing, Tiger cub Stephen Mandel’s Lone Pine Capital disclosed holding 41.97 million Williams Companies shares, an increase from 17.68 million shares the investor held at the end of the third quarter. The stake equates to 5.6% of the company’s common stock, and is passive by nature. Lone Pine Capital’s funds, Cypress, Kauri, Cascade, and Tamarack, lost between 3% and 4% during the third quarter, but still managed to outperform the S&P 500 and the MSCI World Index during this period. The funds are still in the green in year-to-date terms according to Lone Pine’s letter to investors for the third quarter.
Williams Companies Inc (NYSE:WMB) operates energy infrastructure across North America. The company owns about a 60% stake in Williams Partners LP (NYSE:WPZ). Last month, Williams Companies announced attaining approval from the Federal Energy Regulatory Commission for Gulf Trace, a 1.2 million dekatherm per day expansion of the Transco pipeline system to serve the Cheniere Energy Partners’ Sabine Pass Liquefaction project, which is under development in Cameron Parish, Louisiana. The LNG export terminal, which is expected to be ready in late 2015, will connect U.S natural gas supplies with global LNG markets. Once complete, the Sabine Pass liquefaction terminal will be the first large-scale LNG export facility in operation in the United States, with an expected nominal production capacity of 27 million tonnes per annum. Williams Companies Inc (NYSE:WMB)’s stock has dropped by 22.14% year-to-date. Other investor betting big on Williams include Keith Meister’s Corvex Capital, holding 41.68 million shares, and Eric W. Mandelblatt’s Soroban Capital Partners, with ownership of 21 million shares.
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