Billionaire Jorge Paulo Lemann’s Top Five Energy Picks: From Pioneer To Enbridge

#4 Canadian Natural Resource Ltd (USA) (NYSE:CNQ)

Shares held by 3G Capital as of March 31: 1.5 million

Value of 3G Capital’s stake as of March 31: $40.52 million

Next up is Canadian Natural Resource, which occupied the eleventh spot in 3G Capital’s list by March 31. Between January and March, the firm started a new stake in the large cap independent crude oil and natural gas producer, which also felt the bullishness of Arosa Capital Management, led by Till Bechtolsheimer, which started a stake comprising 977,900 shares of the company, valued at $26.4 million by March 31. Canadian Natural Resource Ltd (USA) (NYSE:CNQ) has had a strong year, having returned almost 30% so far. Moreover, since the beginning of the second quarter, the shares have gained more than 5%, even though they were impacted by the raging wildfire in Alberta, Canada, in early May, which caused a 20% drop in the country’s oil output. Last week, Bloomberg reported that Husky Energy was close to selling an E&P package to Canadian Natural Resources as part of an asset divestiture plan; details have not transcended yet.

 

#3 Suncor Energy Inc. (USA) (NYSE:SU)

Shares held by 3G Capital as of March 31: 1.5 million

Value of 3G Capital’s stake as of March 31: $41.71 million

Another energy company that could count 3G Capital among its largest hedge fund investors was Suncor Energy Inc. (USA) (NYSE:SU). The firm disclosed ownership of 1.5 million shares of the company by the end of the first quarter; the stake was valued at roughly $41.7 million at the time. However, it should be noted that, over the January to March period – where the stock rose 7.79%, the stake was trimmed by 50%, making it fall from the fourth place in the firm’s list to the tenth position. Interestingly, it should be noted that Berkshire Hathaway was the largest hedge fund investor in the company by March 31, with 30 million shares or roughly $834.3 million in stock. Over the second quarter of 2016, Suncor has lost almost 6%, mostly impacted by the Canada wildfires, which have resulted in a 10.75% drop in the company’s stock price over the past month. More recently, Reuters reported that “The fire was still burning around Fort McMurray on Wednesday, with dry, windy weather expected to push it east, in the direction of Suncor and Syncrude facilities, prolonging a shutdown that has cut Canadian oil output by a million barrels a day.”