Top Commodities Hedge Funds Revealed: Oversee $29.4 Billion in Assets
|January 23rd, 2013||
|The Top 50 Commodities Equity Focused Hedge Fund list has been released, revealing that the top funds now manage $29.4 billion in equity assets. The top 50 commodity investing hedge funds allocated $19.7 billion, or 67% of their total US equity assets, to Energy and Basic Materials stocks.|
The Top Commodities Hedge Fund List is led by Kayne Anderson Capital Advisors, Passport Capital LLC and Harvest Fund Advisors LLC. 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 51% of its equity portfolio at the end of the third quarter Passport Capital’s top commodity holdings include: Kinder Morgan Inc (KMI), Marathon Petroleum Corp (MPC) and Kinross Gold Corporation (KGC).
David Martinelli’s Harvest Fund Advisors had 86% of its portfolio invested in energy related stocks. Harvest Fund, which is headquartered just outside of Philadelphia in Wayne, specializes in MLPs and energy infrastructure investing.
Some other notable hedge funds in the top 10 include #5 Taconic Capital Advisors and Cobalt Capital Management, with $741M and $663M invested in commodities, respectively. Event-Driven focused Taconic Capita is led by Frank Brosens and Kenneth Brody. The firm’s biggest commodity bet was BP Plc (BP), which accounted for more than 27% of Taconic’s portfolio. NY-based Cobalt Capital’s favorite commodity stocks were streetTRACKS Gold Trust (GLD), Marathon Petroleum Corp (MPC) and Atlas Energy L.P (ATLS). Cobalt is led by Wayne Cooperman, who is the son of Omega Advisors’ Leon Cooperman.
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 HedgeTracker’s Hedge Fund Portal..
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