Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Was Whetstone Capital Advisors Right to Bet on Energy Transfer Equity, L.P. (ETE) & Other Energy Stocks?

Page 1 of 2

Whetstone Capital Advisors is a fund managed by David Atterbury, which reported an equity portfolio worth $170.18 million as of the end of June. The fund invests mainly in energy and even though its returns might had been damaged with the decline of crude prices, a rebound seen this year had a positive impact on the fund’s performance.

According to our methodology of assessing a fund’s returns by calculating the weighted average returns of its long stock positions in companies worth at least $1.0 billion, Whetstone Capital posted gains of 17.70% during the third quarter, based on nine holdings. In this article, we are going to take a closer look at some of the fund’s top picks, including Energy Transfer Equity, L.P. (NYSE:ETE), Criteo SA (ADR) (NASDAQ:CRTO), Williams Companies, Inc. (NYSE:WMB), and Columbia Pipeline Partners LP (NYSE:CPPL).

David Atterbury - Whetstone Capital

Let’s start with Energy Transfer Equity, L.P. (NYSE:ETE), in which Whetstone amassed a $25.16 million position, which contained 1.75 million shares at the end of June, up by 92% over the quarter. Whetstone’s optimism in the company paid off pretty well in the following quarter, as Energy Transfer Equity’s stock advanced by 18.9%.  At the end of the second quarter, a total of 30 of the hedge funds tracked by Insider Monkey were bullish on this stock, down by 3% over the quarter. More specifically, OZ Management was the largest chareholder of Energy Transfer Equity, L.P. (NYSE:ETE), with a stake worth $214.3 million reported as of the end of June. Trailing OZ Management was Corvex Capital, which amassed a stake valued at $93.4 million. OZ Management, Pentwater Capital Management, and Zimmer Partners also held valuable positions in the company.

Follow Energy Transfer Equity L.p. (NYSE:ETE)
Trade (NYSE:ETE) Now!

On the other hand, Criteo SA (ADR) (NASDAQ:CRTO)‘s stock slid by 23.5% in the third quarter, while Whetstone entered the quarter with a stake initiated between April and June, which contained 34,311 shares worth $1.58 million. Overall, 13 investors tracked by Insider Monkey were bullish on Criteo SA (ADR) (NASDAQ:CRTO), a decline of 7% over the quarter.  Among these funds, Eton Park Capital held the most valuable stake in Criteo, which was worth $48.5 million at the end of the second quarter. On the second spot was York Capital Management which amassed $36 million worth of shares. Moreover, Marshall Wace LLP, Columbus Circle Investors, and Polar Capital were also bullish on Criteo SA (ADR) (NASDAQ:CRTO).

Page 1 of 2
Loading Comments...