25 Stocks Billionaires Are Piling On

24. Devon Energy Corporation (NYSE:DVN)

Number of Billionaire Shareholders of DVN (as of June 30): 8

Value of Billionaires’ Holdings in DVN (as of June 30): $1.07 billion

Devon Energy Corporation (NYSE:DVN) shares were also held by 8 billionaires on June 30, who owned $1.07 billion worth of them. Those were increases from 7 and $398 million respectively on March 31. Paul Singer’s Elliott Management took a 3.02-million share stake in Devon Energy during Q2, while Ken Griffin’s Citadel Investment hiked its stake by 1,107% to 7.48 million shares. As noted back in February, Devon Energy was one of 6 energy stocks that billionaires were bullish on heading into 2018, however the stock has disappointed despite a 40% surge in oil prices since last November. That has left shares looking undervalued, which is likely why billionaires were buying them up in Q2.