Paris-based Syquant Capital initiated a new position in Chart Industries (GTLS +0.07%), acquiring 350,458 shares in the fourth quarter for an estimated $72.28 million based on average quarterly pricing, according to a Tuesday filing.
What happened
According to a filing with the U.S. Securities and Exchange Commission released Tuesday, Syquant Capital established a new stake in Chart Industries during the fourth quarter, buying 350,458 shares. The estimated transaction value, based on the quarter's average price, was $72.28 million. The net position change for this new holding matched the transaction value, as this was an initial purchase.
What else to know
This was a new position for the fund and now represents 8.84% of its reportable 13F assets under management
Top five holdings after the filing:
- NYSE:DAY: $159.47 million (19.89% of AUM)
- NYSE:BABA: $91.10 million (11.36% of AUM)
- NYSE:LLY: $76.30 million (9.52% of AUM)
- NASDAQ:INTU: $69.55 million (8.67% of AUM)
- NYSE:ORCL: $57.50 million (7.17% of AUM)
As of Monday, Chart Industries shares were priced at $206.71, up 3.81% over the past year and underperforming the S&P 500 by 13.79 percentage points.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $4.29 billion |
| Net Income (TTM) | $66.70 million |
| Price (as of market close 2026-01-12) | $206.71 |
| One-Year Price Change | 3.81% |
Company Snapshot
- Chart Industries, Inc. provides engineered equipment, including cryogenic storage tanks, heat exchangers, process technology, and specialty products for the energy and industrial gas sectors.
- The company generates revenue primarily through the design, manufacture, and sale of highly engineered equipment and aftermarket services, with a diversified product portfolio supporting LNG, hydrogen, CO2 capture, and industrial gases.
- Key customers include participants in the energy, industrial gas, specialty gas, aerospace, food and beverage, and water treatment industries worldwide.
Chart Industries, Inc. is a leading global supplier of engineered cryogenic and heat transfer equipment, with a broad presence across energy and industrial gas markets. The company's scale and technical expertise enable it to serve a diverse set of end markets, including LNG, hydrogen, and specialty applications. Its strategic focus on innovation and aftermarket services supports long-term customer relationships and competitive differentiation.
What this transaction means for investors
Chart Industries shares are trading just below the firm’s $210 per-share cash acquisition price from Baker Hughes (a deal announced in July), even as the underlying business continues to post record commercial momentum and a swelling backlog.
The company reported third-quarter orders of $1.68 billion, up nearly 44% year over year, pushing total backlog to about $6.05 billion. Heat transfer systems and specialty products led growth, with demand tied to LNG infrastructure, data centers, carbon capture, and nuclear applications. Meanwhile, free cash flow came in at $94.7 million despite one-time costs tied to the terminated Flowserve deal and the pending Baker Hughes transaction.
More broadly, Syquant’s largest holdings lean toward large-cap growth and durable cash generators, and this position now sits alongside names like Eli Lilly and Intuit in its portfolio. Ultimately, when a stock trades below a signed cash exit while fundamentals keep improving, the risk-reward might skew slightly in your favor.
Glossary
13F assets under management: The value of securities a fund manager must report quarterly to the SEC under Form 13F.
Initial purchase: The first time an investor or fund acquires a position in a specific security.
Quarter-end position: The number of shares or value of a holding at the end of a fiscal quarter.
Reportable assets: Securities or holdings that must be disclosed in regulatory filings, such as the SEC's Form 13F.
Stake: The ownership interest or amount of shares held in a company by an investor or fund.
Engineered equipment: Custom-designed machinery or products built to meet specific technical requirements for industrial use.
Cryogenic storage tanks: Specialized containers designed to store materials at extremely low temperatures, often used for industrial gases.
Aftermarket services: Support, maintenance, or services provided to customers after the initial sale of equipment.
Process technology: Systems and methods used to transform raw materials into finished products, especially in industrial settings.
Diversified product portfolio: A range of products offered across different markets or sectors to reduce risk and broaden business opportunities.
End markets: The industries or sectors that ultimately use a company's products or services.
TTM: The 12-month period ending with the most recent quarterly report.
