Billionaire Steve Cohen’s Point72 Asia (Singapore)’s 13F Posts Strong Returns Betting on Commodities

#2 Albemarle Corporation (NYSE:ALB)

– Shares Owned by Point72 Asia (Singapore) (as of December 31): 750,000

– Value of Holding (as of December 31): $42 million

Moving on, shares of lithium producer Albemarle Corporation (NYSE:ALB) have been on a consistent rally since mid-February. After ending the first quarter with gains of 14.7%, they have climbed by over 3.5% so far this month, bringing their year-to-date return to almost 18%. On February 1, the stock registered a boost after authorities in Chile announced a 27-year agreement with the company that will allow it to triple its lithium production in the country. Analysts believe that the company is undervalued and its stock will appreciate significantly in the coming quarters if it uses its free cash flow to bring down its net debt. Another reason for their bullish sentiment is the increasing demand for lithium, which is expected to increase by over 20% annually over the next few years. Some analysts also predict that Albemarle Corporation (NYSE:ALB) will be a major beneficiary of Tesla Motors Inc (NASDAQ:TSLA)’s electric car revolution because of its position as the largest supplier of lithium in the world. Anand Parekh‘s Alyeska Investment Group increased its stake in the company by 85% to 890,526 shares during the fourth quarter.

#1 Steel Dynamics, Inc. (NASDAQ:STLD)

– Shares Owned by Point72 Asia (Singapore) (as of December 31): 2.5 million

– Value of Holding (as of December 31): $44.67 million

Point72 Asia (Singapore)’s largest equity holding at the end of 2015  also turned out to be its best performing stock pick in the first quarter, registering gains of 26.7%. Another fund that initiated a stake in Steel Dynamics, Inc. (NASDAQ:STLD) was Kurt Billick‘s Bocage Capital, which purchased 643,636 shares of the company during the October-December period. Steel Dynamics, Inc. (NASDAQ:STLD) is expected to report its fiscal 2016 first quarter earnings on April 20 and the consensus among analysts include EPS of $0.24 on revenue of 41.70 billion. For the same quarter of the previous year, the company reported EPS of $0.17 and revenue of $2.05 billion. Most analysts have a positive outlook on Steel Dynamics, Inc. (NASDAQ:STLD) because of its status as the most efficient steel producer in the US and expects the company’s earnings to rise by 80% this year and 30% in 2017. The 20 prominent analysts and brokerage houses that cover the stock currently have an average ‘Buy’ rating  and an average price target of $23.68.

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