Life

Billionaires Unloaded These 24 Stocks In Q2

Like & Follow Us On Facebook!

3. Univar (UNVR, $18.24)

Univar

With a market value of $3.1 billion, Univar’s shares were sold by billionaire investor Chris Hohn of TCI Fund Management. TCI sold 20% of its holdings in the global chemical, cleaning solution, and ingredients distributor in the second quarter. Despite the global pandemic and the public being urged to keep their surrounding areas clean, shares in UNVR plunged by more than 55% from the beginning of the year through to the first quarter. Their recovery has also been slower than the rest of the market’s, as they are still off 25% their YTD.
TCI didn’t really feel the sting from those kinds of losses however, as UNVR is a tiny portion of their $25.2 billion investment portfolio. Their largest holding is Charter Communications (CHTR), which was worth $5.3 billion at the end of the second quarter. On top of the 20% cut in UNVR stock during the quarter, the fund manager’s holdings in Raytheon were converted into Raytheon Technologies (RTX) stock when it merged with what remained of United Technologies, from a spinoff sale forming a company with $74 billion in pro forma sales last year. Raytheon shareholders then received 2.2.348 RTX shares for every RTN share, effectively doubling their investments overnight. TCI ended the second quarter with 11. 6 million RTX shares worth around $711.8 million shares representing 2.8% of its entire portfolio.

You may also like