Longleaf Partners’ Top Performance Contributor: The Williams Companies (WMB)

Longleaf Partners, an asset management company, released its “Longleaf Partners Fund” second quarter investor letter. A copy of the same can be downloaded here. The fund declined 15.56% in the second quarter, just ahead of the S&P 500 Index, which dropped 16.10%. Even though the fund outperformed the S&P Index, it lagged the Russell 1000 value index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, Longleaf Partners discussed stocks like The Williams Companies, Inc. (NYSE:WMB). Headquartered in Tulsa, Oklahoma, The Williams Companies, Inc. (NYSE:WMB) is an energy infrastructure company. On August 31, 2022, The Williams Companies, Inc. (NYSE:WMB) stock closed at $34.03 per share. One-month return of The Williams Companies, Inc. (NYSE:WMB) was 6.64% and its shares gained 35.52% of value over the last 52 weeks. The Williams Companies, Inc. (NYSE:WMB) has a market capitalization of $41.467 billion.

Here is what Longleaf Partners specifically said about The Williams Companies, Inc. (NYSE:WMB):

“The Williams Companies, Inc. (NYSE:WMB) – US natural gas pipeline operator Williams contributed as it benefitted from positive natural gas tailwinds in the quarter. After scaling back the position in the first quarter, we sold the remaining position in the quarter as its price reached our appraisal value. This was a very successful investment that was extremely contrarian in 2019 and now has become much more consensus appreciated.”

Pipeline in industrial district

The Williams Companies, Inc. (NYSE:WMB) is not on the list of 30 Most Popular Stocks Among Hedge Funds. The Williams Companies, Inc. (NYSE:WMB) was held by 36 hedge fund portfolios at the end of the second quarter compared to 38 in the previous quarter.

We discussed The Williams Companies, Inc. (NYSE:WMB) in another article and shared Longleaf Partners’ views on the company in the previous quarter. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.