A former employee at Merrill Lynch and Allen & Company, Richard Chilton established Chilton Investment Company in 1992. Although it started as a long-short fund, Chilton Investment has evolved over time to employ a wide range of strategies for its long-term investments in public equity, fixed income, and hedging markets across the globe. The fund’s current portfolio is well diversified and includes stocks from the energy sector to consumer goods sector. According to its latest 13F filing, Chilton’s equity portfolio is valued at aproximately $2.48 billion, down from the $3.22 billion at the end of the first quarter. Richar Chilton himself has an estimated net worth of $1.3 billion, as reported by Forbes. His top stock pics have suffered some changes during the second quarter, thus this article will focus on the top 3 positions.
Chilton’s biggest bet continues to be W.R. Grace & Co. (NYSE:GRA), producer and marketer of chemical products with a worldwide presence. However, Chilton Investment’s investment in the company has been considerably reduced during Q2. According to its latest 13F filing, the fund currently holds 1.75 million W.R. Grace & Co. (NYSE:GRA) shares valued at $165 million. James Dinan thinks this stock has still room to grow and has boosted his fund’s stake by 23% during the quarter. As a result, York Capital Management holds 3.67 million shares of W.R. Grace & Co. (NYSE:GRA), worth in excess of $347 million.
Richard Chilton has continued offloading Sherwin-Williams Company (NYSE:SHW) shares, reducing his fund’s holding of the stock by 22% by the end of June. As a result, Chilton Investment Company now holds 404,230 shares valued at $83.6 million. Jim Simons has also chosen to limit his fund’s exposure to Sherwin-Williams Company (NYSE:SHW), reducing its stake in the company by 37% during Q2. In its latest 13F filing, Renaissance Technologies reported control over 397,600 shares of Sherwin-Williams Company (NYSE:SHW), a position worth roughly $82,2 million.
Union Pacific Corporation (NYSE:UNP) is one of the stocks Richard Chilton is bullish on: up 45% during the second quarter. Chilton Investment Company reportedly owns approximately 711,200 shares which carry a value of $70.9 million. Ken Griffin is also very optimistic about the prospects of the stock, nearly doubling his fund’s investment in Union Pacific Corporation (NYSE:UNP) during the quarter. Griffin’s Citadel Investment Group now holds approximately 2.39 million Union Pacific Corporation (NYSE:UNP) shares, valued at $238 million.