Dan Loeb And Keith Meister Both Betting Heavily On These Stocks

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Yum! Brands, Inc. (NYSE:YUM)

Another stock in which both Dan Loeb and Keith Meister are betting on is the fast food holding company Yum! Brands, Inc. (NYSE:YUM), in which Third Point held a total of 3.58 million shares valued at $322.04 million after boosting its position by 9%. Corvex Capital on the other hand raised its stake in the stock by a whopping 1,685% to become the biggest shareholder of the company among those tracked by Insider Monkey. The fund held a total of 15.29 million shares worth $1.38 billion. The Louisville, Kentucky-based owner of KFC, Taco Bell, and Pizza Hut, among other brands, has walked a bumpy road in China due to the country’s economic slowdown, which has also led to the devaluation of the country’s currency, the yuan. China is a vital market for Yum! Brands, Inc. (NYSE:YUM), accounting for close to half of its revenue. Meister suggested at the Ira Sohn Conference in May that it should consider spinning off its China unit into a separate company. In Yum! Brands, Inc. (NYSE:YUM)’s most recent results, its revenue from China fell by 4% on a year-over-year basis. At the end of the second quarter, Senator Investment Group, led by Doug Silverman and Alexander Klabin, held a total of 3.50 million shares of the stock with a market value of $315.28 million. Billionaire Ken Griffin’s Citadel Investment Group followed with 1.93 million shares worth $173.84 million.

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Williams Companies Inc (NYSE:WMB)

In conclusion, let’s consider Williams Companies Inc (NYSE:WMB), in which Third Point initiated a new position of 1.50 million shares valued at $86.09 million in the second quarter, while Corvex Capital held 41.68 million shares worth $2.39 billion, representing its biggest portfolio holding. The Tulsa, Oklahoma-based energy company recently rejected a $53 billion takeover bid by Energy Transfer Equity LP (NYSE:ETE), but its doors remain open to other bids and merger proposals. Shares are now flat for the year after the rejection of the offer, after being up by over 35% at one point. Soroban Capital Partners, led by Eric W. Mandelblatt, also held a long position in the stock of 21.00 million shares valued at $1.21 billion. Billionaire Stephen Mandel‘s Lone Pine Capital was also long in Williams Companies Inc (NYSE:WMB) with 13.94 million shares worth $800.20 million after raising its stake in the stock by 17% during the second quarter.

Disclosure: None

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