Algoma Steel
ASTL
120 hedge funds and large institutions have $716M invested in Algoma Steel in 2023 Q4 according to their latest regulatory filings, with 24 funds opening new positions, 38 increasing their positions, 36 reducing their positions, and 13 closing their positions.
121% more call options, than puts
Call options by funds: $13M | Put options by funds: $5.88M
85% more first-time investments, than exits
New positions opened: 24 | Existing positions closed: 13
55% more capital invested
Capital invested by funds: $464M → $716M (+$253M)
9% more funds holding
Funds holding: 110 → 120 (+10)
9% more funds holding in top 10
Funds holding in top 10: 11 → 12 (+1)
3.24% more ownership
Funds ownership: 65.67% → 68.91% (+3.2%)
6% more repeat investments, than reductions
Existing positions increased: 38 | Existing positions reduced: 36
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MI
MMCAP International
Grand Cayman,
Cayman Islands
|
+$23.9M |
| 2 |
DSC
Donald Smith & Co
New York
|
+$15.2M |
| 3 |
SMDAM
Sumitomo Mitsui DS Asset Management
Tokyo,
Japan
|
+$15M |
| 4 |
Millennium Management
New York
|
+$3.95M |
| 5 |
Arrowstreet Capital
Boston,
Massachusetts
|
+$3.6M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PCM
Philosophy Capital Management
Alamo,
California
|
-$9.07M |
| 2 |
BCC
Bain Capital Credit
Boston,
Massachusetts
|
-$6.02M |
| 3 |
LC
Littlejohn & Co
Greenwich,
Connecticut
|
-$5.9M |
| 4 |
SGL
Sonic GP LLC
Honolulu,
Hawaii
|
-$5.42M |
| 5 |
TCM
Thomist Capital Management
Houston,
Texas
|
-$5.31M |
ASTL Hedge Fund Activity: Q4 2023 in Review
120 of the 6,869 institutional investors tracked by Wall St. Rank reported a position in Algoma Steel (ASTL) for Q4 2023, worth a combined $716M — up 55% from $464M a quarter earlier.
Buyers outnumbered sellers: 24 funds opened new ASTL positions and 13 closed out — a net gain of 11 holders — while 38 added to existing stakes and 36 trimmed.
The largest buyer was MMCAP International, opening a new position worth an estimated $23.9M. The largest seller was Philosophy Capital Management, exiting entirely with an estimated $9.07M sold.
- 120 institutional investors held Algoma Steel (ASTL) as of Q4 2023, up from 110 in Q3 2023.
- Funds reported $716M of Algoma Steel stock for Q4 2023, up 55% quarter-over-quarter.
- 24 funds opened new Algoma Steel positions in Q4 2023 and 13 closed out, a net change of +11 holders.
- The largest Algoma Steel buyer in Q4 2023 was MMCAP International, an estimated $23.9M added.
- The largest Algoma Steel seller in Q4 2023 was Philosophy Capital Management, an estimated $9.07M sold.
Based on aggregated 13F filings for Q4 2023.