Billionaire Ken Griffin Just Took a Big Stake in Global Brass and Copper

Citadel, Global Brass and Copper: In a passive 13G filing with the SEC minutes ago, Ken Griffin‘s Citadel Advisors reported a new 5.8% stake in Global Brass and Copper Holdings Inc (NYSE:BRSS). Griffin typically invests in hundreds of stocks depending on the quarter, but a +5% position in any stock should not be overlooked. Shares of the specialized copper and brass producer are up 32% year-to-date.

Ken Griffin with computers

Global Brass and Copper Holdings is engaged in the production and distribution of specialized copper and brass products, and had its IPO earlier in May. At the beginning of the month, the company closed its secondary public offering, in which it provided investors the opportunity to buy 5.75 million shares of common stock at a price of $16.50 a piece. Global Brass and Copper reported a net loss of $17.1 million, up from the $20 million net loss posted for the same period of last year.

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