Steadfast Capital’s Stake in YY Inc (ADR) (YY) Surges

In the hedge fund universe there are passive investors, who even though are not so widely discussed, still should be covered. A move made just now by Robert Pitts‘ hedge fund Steadfast Capital involved his position in YY Inc (ADR) (NASDAQ:YY). The hedgie added over 7.5 million shares to its 912,700 share position in the company, and the stake sizes up to 8.4 million shares, worth $405 million at current levels.


Steadfast Capital has been bullish on YY Inc (ADR) (NASDAQ:YY) since the first purchase it made in the last quarter of 2012, which involved 1.3 million shares; it added around 227,000 shares two quarters later, and with the most recent purchase, Steadfast owns about 4.7% of the company.

Some other hedge funds that have been bullish on YY Inc (ADR) (NASDAQ:YY) are Tiger Global Management, Scott Sinclair and Laurence Chang, managers of Cascabel Management, and Richard Driehaus of Driehaus Capital.

Recommended Reading:

Nuance Communications Inc. (NUAN), American Capital Agency Corp. (AGNC): What This Top-Earning Billionaire Has Been Buying

Donald Yacktman Says Apple Inc. (AAPL) Isn’t As Cheap As You Think, Explains Why Microsoft Corporation (MSFT) Is Better

Lions Gate Entertainment Corp. (USA) (LGF), LinkedIn Corp. (LNKD): My Top 2 George Soros Picks