Favorable Lawsuit Ruling Sends These Chemical Companies Surging But Hedge Funds Are Keeping Their Distance

Our data shows that hedge funds were bullish on E I Du Pont De Nemours And Co (NYSE:DD) in the second quarter, though they still held less than 5% of its shares overall. A total of 46 funds reported stakes worth $2.4 billion in the latest round of 13F filings, up from 36 funds with $2.18 billion in shares a quarter earlier. Activist Trian Partners is Du Pont’s largest shareholder in our database, with a holding of 24.56 million shares, while Phill Gross and Robert Atchinson‘s Adage Capital Management is second, with a stake of 1.4 million shares. Rounding out the top five are Jonathon Jacobson’s Highfields Capital Management, D E Shaw, and Paul Marshall and Ian Wace’s Marshall Wace LLP.

Hedge funds are even less bullish on Chemours Company (NYSE:CC), as our data shows that ten elite funds owned $50.68 million worth of the company’s shares, representing just 1.9% of its outstanding stock, at the end of June. SEC filings show that Trian Partners also heads the list of Chemours shareholders among the investors we track, owning 4.91 million shares. Only time will tell whether this ruling and the ones to follow will change the smart money’s mind concerning Chemours.

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