Friday, March 27, 2015

Balyasny Discloses New Stakes in Basic Energy Services & Tetra Technologies

Dmitry Balyasny's investment firm Balyasny Asset Management has filed two separate 13G's with the SEC.

New Stake in Basic Energy Services

First, Balyasny has revealed a brand new equity stake in Basic Energy Services (BAS).  Per their SEC filing, they now own 5.39% of the company with over 2.25 million shares.  The filing was made due to activity on March 18th.

Per Google Finance, Basic Energy Services is "provides a range of well site services to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling. The Company’s operations are managed regionally and are concentrated in the United States onshore oil and natural gas producing regions located in Texas, New Mexico, Oklahoma, Arkansas, Kansas, Louisiana, Wyoming, North Dakota, Colorado, Utah, Montana, West Virginia, Kentucky, Ohio and Pennsylvania. Its operations are focused on liquid rich basins that exhibit drilling and production economics as well as natural gas-focused shale plays characterized by prolific reserves and attractive economics."


New Position in Tetra Technologies

Second, the hedge fund firm has disclosed a new equity position in Tetra Technologies (TTI).  This 13G filing indicates they own 5.39% of the company with over 4.29 million shares of the company.   This was due to portfolio activity on March 18th.

Per Google Finance, Tetra Technologies is "is oil and gas services company, focused on completion fluids and other products, production testing, wellhead compression, and selected offshore services including well plugging and abandonment, decommissioning, and diving. The Company also has limited domestic oil and gas production business. The Company operates under five reporting segments organized into three divisions: Fluids, Production Enhancement, and Offshore. The Fluids Division manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry. The Production Enhancement Division consists of two operating segments: Production Testing and Compressor. The Production Testing segment provides after-frac flow back, production well testing, offshore rig cooling, and other associated services.."


You can view additional recent portfolio activity from Balyasny here.


Corvex Management Adds To Signet Jewelers Stake

Keith Meister's activist hedge fund Corvex Management has filed an amended 13D with the SEC regarding its position in Signet Jewelers (SIG).  Per the filing, Corvex now owns 7.2% of SIG with over 5.74 million shares.

They've increased their position size by 235,000 shares.  They were buying sporadically in January, February and early March at prices between $117.40 and $121.68.

Corvex's filing says they commend Signet "for its new capital allocation policy and look forward to continuing to engage in constructive and collaborative conversations."

You can view additional portfolio activity from Corvex here.

Per Google Finance, Signet Jewelers is "a Bermuda-based specialty retail jeweler by sales in the United States and United Kingdom. The Company also has stores in the Republic of Ireland and Channel Islands. It is engaged in the retailing of jewelry, watches and associated services. The business is managed as two geographical operating divisions: the US division and the UK division."


Hedge Fund Links ~ 3/27/15


How the smart money is set up for a Fed rate hike [CNBC]

New funds blast off with best year since 2004 [HF Intelligence]

Omega Advisors receives federal subpoena [CNBC]

Hedge fund manager: it's a 'truly scary time' [CNBC]

Here are the billionaire hedge fund babies of 2014 [CNBC]

Startups are not hot in the rich hedge fund industry [Forbes]

TigerShark to close down [Bloomberg]

For the Clintons, a hedge fund in the family [NYTimes]

Paul Tudor Jones at TED [TED]

Showtime orders new series 'Billions' about a hedge fund manager [CBS]