Hedge fund billionaire investors frequently get media attention for their outsized paychecks, lavish lifestyles, amazing wins and woeful miscalculations. Bloomberg reported that in 2018, hedge funds posted an aggregate loss of 5.7%. Still, wouldn’t it be useful to know what they are investing in?
To see where their money is going, WalletHub analyzed the SEC filings of over 400 hedge funds to determine their biggest equity holdings, new positions and largest equity sales in 2018.
Of the 25 most frequently held stock positions by these funds, Microsoft, Amazon and Apple were the top three. No surprise there. Mostly tech and financial or bank stocks, and a few healthcare stocks, made the list.
The highest-ranked manufacturing company was Boeing at No. 13. Number 25 was billionaire investor Warren Buffett’s own Berkshire Hathaway Inc.
Not a single energy-related company made the top 25.
WalletHub also took a deeper dive to identify the top three holdings of several celebrity billionaire hedge fund managers known for their investing acumen. Only Carl Icahn was listed as owning enough energy-related equities to make the top three list. He owned 9.4% of LNG leader Cheniere Energy Inc. as of December 30. During 2018, the biggest new position he added was Diamondback Energy Inc. (FANG), of which he owned 6.3% at year-end.
Despite the reputation of hedge fund managers, there is no guarantee of success. For example, last summer, Icahn took control of SandRidge Energy Inc., gaining five of its eight board seats and instituting broad changes. In January a new CEO was named, Paul D. McKinney. At the time Icahn gained control, the stock was trading for about $17 a share; more recently it was around $8.
Recommended Reading
Goodbye Manual Control: Vital Energy’s Automation Program Boosts Production
2024-07-12 - Production, ESP efficiency soared when the company automated decisions with AI at the edge.
OMV Makes Gas Discovery in Norwegian Sea
2024-08-26 - OMV and partners Vår Energi and INPEX Idemitsu discovered gas located around 65 km southwest of the Aasta Hansteen field and 310 km off the Norwegian coast.
Seadrill to Adopt Oil States’ Offshore MPD Technology
2024-09-17 - As part of their collaboration, Seadrill will be adopting Oil States International’s managed pressure drilling integrated riser joints in its offshore drilling operations.
Patterson-UTI Boosts Bottom Line with OFS Acquisitions
2024-08-06 - Less than a year out from the closing of its merger with NexTier and its acquisition of Ulterra Drilling Technologies, Patterson-UTI is taking strides not to be the latest has-been.
US Drillers Cut Oil and Gas Rigs for Second Time in Three Weeks
2024-08-16 - The oil and gas rig count fell by two to 586 in the week to Aug. 16.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.