Encompass Capital disclosed it has sold its entire position in Alcoa Corp. (AA), a move that followed a significant reduction in its holdings in the prior quarter. The transaction, valued at an estimated $40.14 million, was revealed in a quarterly 13F filing with the SEC, which reflects trades made through June 30, 2026. This type of filing is a delayed disclosure and does not represent a real-time trade.
The exit occurred during a quarter where Alcoa reported record revenue but also missed earnings estimates and lowered its full-year alumina production guidance due to operational challenges. Prior to the full liquidation, Alcoa had accounted for approximately 1.2% of Encompass Capital's reported portfolio. No public statements from the investor regarding the decision have been identified.