FMR takes holdings in two Teekay firms

Investment fund founded by billionaire Edward C Johnson II reveals large stakes in Teekay Corp and Teekay Offshore.

Mutual fund giant Fidelity Management & Research (FMR) has announced substantial holdings in New York-listed giant Teekay Corp and MLP spin-off Teekay Offshore Partners.

The positions add to the investor’s previously disclosed stake in sibling Teekay LNG Partners.

SEC filings show FMR is sitting on 8.47 million Teekay Corp shares which are today worth in excess of $90m.

Its 9.9% stake leaves it second only to Resolute Investments, a trust linked to Teekay founder Torben Karlshoej, on the owner’s shareholder list.

Data from Bloomberg shows the company’s other major shareholders to include Morgan Stanley and Blackrock, each with between 3% and 4%.

A simultaneous disclosure on Valentine’s Day shows FMR to have taken a similar sized bite of Teekay Offshore Partners.

Its 13.29 million units in the MLP give it a 9.15% stake worth just short of $80m today.

The position makes the fund the fourth largest stakeholder in Teekay Offshore after Teekay Corp, Advisory Research and Magnetar Financial.

FMR, founded by billionaire Edward C Johnson II, emerged with a 10% stake in Teekay LNG Partners last October.

Its other shipping investments have included Scorpio Tankers, Ardmore Shipping and StealthGas.

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