Billionaire Chris Rokos is Selling These 5 Stocks in 2023

3. Chart Industries, Inc. (NYSE:GTLS)

Number of Hedge Fund Holders: 43

Chart Industries, Inc. (NYSE:GTLS) is a global leader in designing and manufacturing process technologies and equipment for gas and liquid molecule handling in clean power, clean water, clean food, and clean industries. They specialize in serving the Nexus of Clean, regardless of the molecule involved. On May 8, CL King analyst Thomas Hayes initiated coverage of Chart Industries, Inc. (NYSE:GTLS) with a ‘Buy’ rating and a price objective of $165.

Chart Industries, Inc. (NYSE:GTLS) has been in the portfolio of Chris Rokos’ Rokos Capital Management since the fourth quarter of 2022. The hedge fund bought 25,000 shares of the company worth $2.85 million. However, in the first quarter of 2023, the hedge fund completely sold off its position in the company.

 In the first quarter of 2023, 43 hedge funds had stakes worth $377.83 million in Chart Industries, Inc. (NYSE:GTLS), down from 55 in the preceding quarter worth $663.57 million. The most prominent shareholder in Chart Industries, Inc. (NYSE:GTLS) is Marshall Wace LLP.

In its Q1 2023 investor letter, Aristotle Atlantic Large Cap Growth Strategy stated the following regarding Chart Industries, Inc. (NYSE:GTLS):

“Chart Industries, Inc. (NYSE:GTLS) is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets. Its unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 Capture amongst other applications. Chart’s customers are mainly large, multinational producers and distributors of hydrocarbon and industrial gases. The company generates about half its sales in North America.

We see Chart Industries as a leading manufacturer of highly engineered cryogenic solutions that are used for the production and storage of industrial gases. With the exposure to energy end markets including liquified natural gas (LNG), compressed natural gas (CNG) and hydrogen, the company has the technology to ship gas from oversupplied markets to markets that do not have access to enough energy resources. Hydrogen is gaining traction as a renewable fuel due to the focus on climate change. The recent acquisition of Howden is complementary to Chart’s existing product and service offerings.”