Sunedison Inc (SUNE), TerraForm Power Inc (TERP), More: Lorem Ipsum Management Betting on Alternative Energy (and Winning)

Next in line is TerraForm Power Inc (NASDAQ:TERP) with 340,000 shares valued at $12.41 million. The holding formed 8.19% of the portfolio value. Returns from the stake in TerraForm Power Inc (NASDAQ:TERP) were less than those in Sunedison Inc (NYSE:SUNE), but still stood at a towering 25.52%. The fund reduced its holding in the global renewable energy company by 6% over the quarter. TerraForm Power Inc (NASDAQ:TERP) is a yieldco subsidiary of Sunedison that was created in July last year. The company offers a dividend yield of 2.79%. Among other stockholders of the company is Robert Pitts‘ Steadfast Capital Management, which held 3.51 million shares of TerraForm Power Inc (NASDAQ:TERP), according to its latest filing.

The representative from the industrials sector, A. O. Smith Corp (NYSE:AOS) is another outperformer, as the stock has risen by almost 22.3% year-to-date. The fund increased its holding in the company by 17% during the quarter to 150,000 shares valued at $9.85 million. A. O. Smith Corp (NYSE:AOS)’s first quarter EPS of $0.65 beat analyst estimates by $0.03, while revenues of $618.5 million also came in $7 million ahead of expectations. The manufacturer of water heaters and boilers is also found in the portfolios of Bernard Lambilliotte‘s Ecofin Ltd and Ian Simm’s Impax Asset Management.

Green Plains Inc (NASDAQ:GPRE) was another one of Lorem Ipsum’s energy picks, occupying the fourth spot in its equity portfolio with 335,000 shares valued at $9.56 million. An additional 50,000 shares of the company were acquired during the first quarter to push its contribution within the fund’s portfolio to 6.31%. The ethanol producer suffered from the low gasoline and ethanol prices in the first quarter as its net loss per share of -$0.09 for the period was $0.20 below the estimates. Revenues of $728.4 million, however, beat expectations by $13.83 million. Despite the headwinds, Green Plains Inc (NASDAQ:GPRE)’s stock has climbed by 28.65% year-to-date as oil prices have begun to strongly rebound. Ken Griffin’s renowned managed futures fund, Citadel Investment Group is a staunch believer in Green Plains Inc (NASDAQ:GPRE)’s future prospects as it held some 1.44 million shares of the company at the end of the fourth quarter.

Disclosure: None