Ken Fisher’s Performance in 2021: 5 Best Performing Stocks

3. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 50 

Gain in Share Price in 2021: 167%       

Devon Energy Corporation (NYSE:DVN) is an independent energy firm. It was one of the best-performing energy stocks of 2021, attracting the attention of top fund managers. Among the hedge funds being tracked by Insider Monkey, Wyoming-based investment firm Adage Capital Management is a leading shareholder in Devon Energy Corporation (NYSE:DVN) with 7.5 million shares worth more than $219 million. 

Devon Energy Corporation (NYSE:DVN) was also one of the top holdings in the Fisher portfolio during 2021. The fund began the year with the ownership of 3.2 million shares of Devon Energy Corporation (NYSE:DVN), a figure that climbed to around 3.6 million by the end of the third quarter. The holding is now worth more than $127 million and represents 0.07% of the total portfolio. 

In its Q4 2020 investor letter, GoodHaven Capital Management, an asset management firm, highlighted a few stocks and Devon Energy Corporation (NYSE:DVN) was one of them. Here is what the fund said:

“After a rough start to the year our two biggest energy holdings – WPX Energy rebounded materially in the last six months though energy was still our biggest detractor for the year. I’ve previously written about deciding earlier this year to direct new capital towards better businesses versus adding more to the energy sector, but given the material optionality at WPX, we opted to maintain a material exposure. Recently WPX announced an all stock merger with a larger competitor – Devon Energy – which will leave the new company with plenty of cash flow at lower oil prices, less leverage, and material upside to higher commodity prices.”