Bernard Lambilliotte and Ecofin Limited’s Top Q2 Picks

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Ecofin’s holding of Williams Companies Inc (NYSE:WMB) was unchanged during the first quarter, remaining at 803,129 shares. However the value of the position appreciated nicely, to $40.63 million as shares rose by 13.97% during the quarter. Williams Companies Inc (NYSE:WMB) is one of the more attractive stocks for longer-term investors given its stable dividend yield of 4.41%, with the company’s dividend payments not experiencing a cut in over 12 years. Williams Companies Inc (NYSE:WMB), an energy infrastructure company counts activist Keith Meister, who now has a seat on its board of directors, as its top shareholder.

Ecofin has done well to greatly increase its position in TerraForm Power Inc (NASDAQ:TERP), which not only enjoyed a strong first quarter, but is off to a torrid start in the second quarter. Shares were up 19.16% during the first quarter, and are now up 36.5% year-to-date after a big April move following its $350 million purchase of Atlantic Power Corp (NYSE:AT)’s wind farms. Ecofin’s position was increased by 279% during the first quarter to 983,781 shares valued at $35.92 million. It’s far from the only fund to be extremely bullish on TerraForm Power Inc (NASDAQ:TERP) during the past couple quarters. Invested capital in TerraForm Power Inc (NASDAQ:TERP) from funds in our database increased dramatically during the fourth quarter to $1.66 billion from just $420 million as investor after investor opened large new positions or substantially added onto existing ones. Among them were Leon Cooperman and Larry Robbins.

Ecofin’s position in General Motors Company (NYSE:GM) was the only one in its top ten that it trimmed, selling off 6% of its stake to leave it with 951,378 shares valued at $35.68 million. On the other hand, a former investor, billionaire David Einhorn, somewhat surprisingly re-opened a position in General Motors Company (NYSE:GM) according to the latest investor letter from his fund Greenlight Capital. Shares of General Motors Company (NYSE:GM) drove up by 8% during the first quarter. The automaker reports its first quarter earnings later today.

Disclosure: None

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