Balyasny Asset Management: Performance, AUM, Holdings

3. Alcoa Corp (NYSE:AA)

Alcoa Corp (NYSE:AA) saw Balyasny inch up its position by 9% on the quarter to 7.85 million shares worth $256.26 million held at the end of June. Including Balyasny, there were 44 funds tracked by us that held shares of Alcoa Corp (NYSE:AA) heading into the third quarter. These funds owned $1.86 billion worth of stock, which represented around 31% of the company’s outstanding stock. Alcoa Corp (NYSE:AA)’s stock has advanced by more than 60% since the beginning of the year, as aluminum prices have been gaining ground. China has recently started to lower the production of aluminum in an effort to reduce pollution, which sent prices higher. In addition, the US government has announced plans to impose tariffs on Chinese steel and aluminum imports, although Alcoa’s global presence means it will be less affected by these regulations. However, what’s more important for investors are Alcoa’s cost-cutting efforts, which the company has been expected to be pursuing aggressively since the spin-off from Arconic.