Billionaire Clint Carlson Makes Big Moves In These 4 Stocks

Last but not least, the multi-strategy asset management firm disclosed owning 12.41 million Class A shares of Cosan Limited (USA) (NYSE:CZZ) via another 13G filing. That figure represents a decrease from the 2.28 million shares disclosed through the fund’s 13F for the September quarter. The newly-trimmed stake accounts for 7.37% of the company’s outstanding common stock. Cosan operates several businesses in strategic sectors important to Brazil’s development, including logistics and energy. Cosan S.A., Cosan Logística, Comgás, Raízen, Rumo, Cosan Lubrificantes and Radar are the companies that form the organization. Comgás is the largest natural gas distributor in Brazil, while Rumo is among the leaders in the transport of sugar for exportation. The company’s Cosan Lubricants produces and markets automotive and industrial lubricants, while Raízen produces ethanol and sugar.

It should be mentioned that a substantial part of Cosan Limited (USA) (NYSE:CZZ)’s debt is denominated in U.S dollars, so the depreciation of the real against the greenback increases its debt burden. Nonetheless, some of the company’s receivables and financial assets are denominated in dollars, which somewhat offsets the negative impact of the depreciation of the Brazilian currency. Shares of the company are down by 61% over the past year, while its future course strongly depends on the strength of the Brazilian economy. A mere 15 hedge funds from our database had positions in Cosan Limited at the end of the third quarter, stockpiling 8.80% of its shares. Jos Shaver’s Electron Capital Partners cut its position in Cosan Limited (USA) (NYSE:CZZ) by 6% during the September quarter to 1.16 million shares.

Disclosure: None