Brian Higgins’ King Street Capital Portfolio: Top 5 Stock Picks

2. Valaris Limited (NYSE:VAL)

King Street Capital’s Stake Value: $85,282,000

Percentage of King Street Capital’s 13F Portfolio: 7.19%

Number of Hedge Fund Holders: 26

Valaris Limited (NYSE:VAL), the largest offshore drilling and well drilling company in the world, is one of the top stocks in Brian Higgins’ Q3 portfolio, with his firm owning an $85.2 million stake in the company, which accounts for 7.19% of the total investments at King Street Capital. 

Valaris Limited (NYSE:VAL) posted on November 2 its Q3 results. EPS in the period totaled -$0.63, beating estimates by $0.08. Revenue for the quarter equaled $326.70 million, missing estimates by -$7.75 million.

As of the third quarter of 2021, 26 hedge funds were reported owning stakes in Valaris Limited (NYSE:VAL), worth over $1 billion. This is compared to 29 funds in the preceding quarter, with a total stake value of $875.4 million.