Hedge Funds Cash In As Southern Co (SO) Acquires AGL Resources Inc. (GAS) For $12 Billion

Adage Capital Management, led by Phill Gross and Robert Atchinson, was the largest shareholder of AGL Resources Inc (NYSE:GAS) in our database at the end of the second quarter, having ownership of 1.03 million shares valued at $48.09 million. Israel Englander’s Millennium Management held 525,558 shares of the company in its portfolio. Joel Greenblatt’s Gotham Asset Management was at the top of those hedge funds that initiated a new position in the gas distribution company, reporting a new position of 278,120 shares valued at $12.95 million. Glenn Russell Dubin’s Highbridge Capital Management raised its stake in AGL Resources Inc (NYSE:GAS) by 599%. Its stake in the company was valued at $18.68 million from ownership of 401,138 shares as of the end of the second quarter. Among the hedge funds trimming their stakes in the gas distributor, Springbok Capital, led by Gavin Saitowitz and Cisco J. Del Valle, was at the top. The investment firm reduced its stake by 93%, closing the quarter with 725 shares valued at $34,000.

John W. Rogers’ Ariel Investments held the largest stake in Southern Co (NYSE:SO) at the end of the second quarter, of 1.36 million shares valued at $56.94 million. Cliff Asness of AQR Capital Management reported ownership of 1.01 million shares of the company worth $42.51 million. Moore Global Investments, led by Louis Bacon, was at the top of the hedge funds in our database initiating new positions in Southern Co during the quarter. The investment firm added 119,161 shares valued at $4.99 million to its equity portfolio.

Disclosure: None