Hedge Fund Manager Al Gore Loves Tesla (TSLA), Renewables

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David Blood and Al Gore started Generation Investment Management with the goal of proving that incorporating sustainability research into investment decisions can provide profitable long-term investments. The fund, thus, invests mainly in companies that are socially and environmentally responsible, and employ good corporate governance policies. At the end of the second quarter, the equity portfolio of Generation Investment Management had a market value of $7.46 billion, and was mainly invested in technology, healthcare, and industrial stocks. Microsoft Corporation (NASDAQ:MSFT) was their largest holding, with the fund having reported ownership of 14.9 million shares as of June 30, up by 44% during the second quarter. QUALCOMM, Inc. (NASDAQ:QCOM), the manufacturer and provider of communications products and services, was also among Generation Investment’s top stock picks. At the end of June, the fund held 9.26 million shares, up by 46% during the quarter.

Although Tesla Motors Inc (NASDAQ:TSLA) is a popular company, hedge funds are not rushing out to buy the stock, as their combined holdings accounted for just 4.1% of its common stock at the end of the second quarter. 26 elite funds held long positions in the tech giant, their aggregate value exceeding $1.38 billion. Daniel Benton and Andor Capital Management reported ownership of exactly 1.0 million shares, while Dmitry Balyasny and his fund held 310,730 shares, down by 27% over the quarter. The launch of the new Model X and the announcement of the Model 3 might have prompted hedge funds to look differently at Tesla, but we’ll have to wait for their third quarter 13F filings to find out. Click below to follow Tesla to stay up-to-date with hedge fund sentiment towards the company.

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Disclosure: None

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