Balyasny Asset Management Buys Willbros Group (WG) Shares ~ market folly

Wednesday, January 19, 2011

Balyasny Asset Management Buys Willbros Group (WG) Shares

Balyasny Asset Management, the hedge fund firm founded by Dmitry Balyasny, recently filed a 13G with the SEC regarding shares of Willbros Group (WG). Due to portfolio activity on December 21st, 2010, Balyasny has revealed a 5.15% ownership stake in WG with 2,463,491 shares.

This is only a slight increase in their pre-existing position in Willbros Group. Back on September 30th, 2010, the hedge fund firm owned 2,269,197 shares of WG. As such, Balyasny has only boosted its position size by 8.5% over the course of three months, buying 194,294 additional shares.

Nicknamed BAM, Balyasny Asset Management was founded in 2001 by Dmitry Balyasny. Their main office is in Chicago but they have offices around the globe. Their strategy is anchored by fundamental-based research organized by sector. The hedge fund firm seeks to "focus on misunderstood situations and companies/sectors undergoing turbulent change from different perspectives." As noted in our 2009 hedge fund returns post, BAM finished up 8.64% for that year.

Per Google Finance, Willbros Group is "a provider of energy services to global end markets serving the oil and gas, refinery, petrochemical and power industries. Within the global energy market, the Company is engaged in designing, constructing, upgrading and repairing midstream infrastructure, such as pipelines, compressor stations and related facilities for onshore and coastal locations, as well as downstream facilities, such as refineries."

For all our coverage on hedge fund activity, head to our posts on the latest SEC filings.

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