T. Boone Pickens is not an average hedge fund manager. He is an insider of the oil industry, thanks to his decades of experience. Now, instead of taking risks in the oil fields, he takes risks in the financial markets. His BP Capital Management mainly focuses on investing in energy futures and stocks. His oil and gas commodities funds distributed nearly $2.8 billion to investors since starting in 1997. The top 10 positions in Pickens’ 13F portfolio at the end of the third quarter returned 28% since the end of September, versus 15% for SPY in the same period. The calculation assumes that Pickens did not increase or reduce his positions in the 10 positions.
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