Largest Commodities Focused Hedge Funds Surpass $41 Billion in Assets

May 2nd, 2013
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The Top 50 Commodities Equity Focused Hedge Fund list has been released, revealing that the top funds now oversee $41.6 billion in equity assets. The Top Commodities Hedge Fund List is led by Kayne Anderson Capital Advisors, PointState Capital and Passport Capital LLC.

NY-based PointState Capital was founded by Duquesne Capital veteran Sean Cullinan in November of 2010. While the firm follows a global macro investing style, the firm has notably allocated more than 45% of its equity assets to energy and commodity related stocks.

Similarly, while John Burbank’s Passport Capital is not strictly a commodities focused hedge fund, the San Francisco-based firm has recently been betting big on commodity related stocks, which accounted for 66.5% of its equity portfolio at the end 4th quarter, up from just 51% at the end of the 3rd quarter. Passport Capital’s top commodity holdings include: Kinross Gold Corporation (KGC), Huntsman Corporation (HUN), Kinder Morgan Inc (KMI), and Marathon Petroleum Corp (MPC).

Notably, the top 50 commodity investing hedge funds allocated $27.3 billion or 66% of their total US equity assets, to Energy and Basic Materials stocks. That’s a $7.67 billion increase since 9/30/2012.

Some other notable hedge funds at the top of the list include #5 Harvest Fund Advisors LLC and #10 Encompass Capital Advisors LLC. David Martinelli’s Harvest Fund Advisors had 96.6% of its portfolio invested in energy related stocks. Harvest Fund, which is headquartered in Wayne, PA specializes in MLPs and energy infrastructure investing.

Like PointState, Encompass Capital is also an emerging hedge fund manager with a strong pedigree, having been founded in late 2011 by Citadel Investment Group veteran Todd Kantor. Encompass Capital launched its flagship energy focused hedge fund in 2012 with a reported $1 billion at launch. Encompass is headquartered in New York City, with a regional research office in Houston.

Ranking Methodology: The Top Commodities Equity Hedge Fund rankings are compiled on a quarterly basis using hedge fund firms’ overall U.S. equity assets under management. The Commodities list includes the top hedge funds that have more than 45% of their U.S. equity assets invested in U.S. listed Energy and Basic Materials companies. To view the Top Commodities Hedge Fund list in its entirety, please visit our Hedge Fund Portal.
For Detailed Investor Profiles on these Investors, click below:
Encompass Capital Advisors LLC
Passport Capital LLC
PointState Capital
Related People: Andrew Seligson; Anuj Malhotra*; Edward Bozaan; Ejnar Knudsen*; Florence Eid*; Holt Calhoon; Jeremy Sussman; Jim Cunningham; John Burbank III; John Moran; John Woodberry*; Michael Jacobs; Neil Adshead*; Peter Chidyllo; Sean Cullinan*; Seth Spaldingl; Stanley Druckenmiller*; Todd Kantor; Walther Lovato; Zach Schreiber (CEO)
Related Entities: Encompass Capital Partners; PointState Capital LP; PointState Fund LP; PointState Holdings LLC; Citadel Investment Group (seeder); Encompass Capital Fund LP; Encompass Capital Master Fund; Passport Capital Rig; Passport Energy; Passport Europe Ltd; Passport India Investments; Passport Management; Passport Master; Passport Materials; Passport Special Opportunities; Point State Capital
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Featured Reports


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