Contrarian Capital’s Stock Picks Like American Airlines Group Inc (AAL) Have a Positive Impact on Its Returns

Contrarian Capital reported ownership of 242,783 shares of Delta Air Lines, Inc. (NYSE:DAL) worth $8.84 million at the end of the June quarter. In our database, the biggest position in Delta Airlines was held by Lansdowne Partners, which reported holding $964.5 million worth of stock at the end of June. It was followed by PAR Capital Management with a $417.7 position. Other investors bullish on the company included Iridian Asset Management, OZ Management, and Stelliam Investment Management. Overall, a total of 94 of the hedge funds followed by our team were long this stock at the end of June, down by 3% from the previous quarter.

Brazil-based steel company Gerdau SA (ADR) (NYSE:GGB) was another addition to Jon Bauer’s fund’s equity portfolio in the second quarter, as the fund acquired 3.22 million shares of the company, which had a total value of $5.86 million. Heading into the third quarter, 13 funds tracked by Insider Monkey held long positions in this stock, up by 30% from the end of March. More specificaly, Jim Simons’ Renaissance Technologies had the number one position in Gerdau SA (ADR) (NYSE:GGB), which was worth close to $31.5 million. Coming in second was Phill Gross and Robert Atchinson’s Adage Capital Management, with a $21.6 million position. Other members of the smart money that were bullish included Howard Marks’s Oaktree Capital Management and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

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