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Richard Lockwood Chilton is the founder of Chilton Investment Company, LLC, which reported $6 billion total assets in its last 13F filing. Chilton graduated from Alfred University with a B.S. degree in finance and economics. Prior to forming Chilton Investment Company in 1992, Chilton worked at Merrill Lynch and Allen & Company. According to Forbes, he is ranked 773rd on the list of the world’s richest people, with an estimated net worth of $1.3 billion.

Chilton Investment's primary investment strategies are value-oriented, fundamental research and disciplined portfolio management. Chilton Investment lost 23% of net fees in 2008 and gained 24% in 2009.

According to 13F filings, Chilton had at least 173 securities in its portfolio as of March 31, 2011. The largest holdings that Chilton sold out in the first quarter are Petroleo Brasileiro Sa (PBR), Goldcorp Inc (GG), Republic Services Inc (RSG) and put options on SPDR S&P 500 ETF Trust (SPY).

During the first quarter of 2011, Chilton placed new bets on Ascena Retail Group Inc. (ASNA) by buying 1.5 million shares. He also purchased 1.6 million shares of Dollar General Corp (DG) and 1.6 million shares of Cameco Corp (CCJ) during the first quarter of 2011.

Richard Chilton also increased some of his holdings significantly. He bet big on Weatherford International Ltd (WFT) by increasing his holdings to $205 million at the end of March. He also increased his Walter Energy Inc. (WLT) position to $138 million by buying 100,668 shares during the first quarter of 2011.

Here is how Chilton’s top picks performed since the end of March 2011:

Stock

Value
(Millions)

Return
Since Mar 31,2011

WEATHERFORD INTERNATIONAL (WFT)

204.8

-12.8%

ALPHA NATURAL RESOURCES INC (ANR)

184.6

-15.7%

SOUTHWESTERN ENERGY CO (SWN)

166.1

-0.2%

PATRIOT COAL CORP (PCX)

162.9

-13.4%

EOG RESOURCES INC (EOG)

162.0

-9.7%

MOSAIC CO/THE (MOS)

159.2

-16.9%

WALTER ENERGY INC (WLT)

138.1

-12.7%

AGNICO-EAGLE MINES LTD (AEM)

126.7

-5.7%

ISHARES SILVER TRUST (SLV)

122.5

-7.0%

SILVER WHEATON CORP (SLW)

112.5

-19.1%

CONSOL ENERGY INC (CNX)

112.2

-8.4%

AVAGO TECHNOLOGIES LTD (AVGO)

109.5

10.6%

AGRIUM INC (AGU)

108.2

-13.4%

MONSANTO CO (MON)

105.7

-7.9%

RANGE RESOURCES CORP (RRC)

97.1

-7.2%

ENTEGRIS INC (ENTG)

96.9

-0.6%

CORNING INC (GLW)

96.7

-3.3%

HARRY WINSTON DIAMOND CORP (HWD)

96.2

1.9%

MARVELL TECHNOLOGY GROUP (MRVL)

91.9

-7.8%

SUNCOR ENERGY INC (SU)

91.0

-9.3%

HOME DEPOT INC (HD)

88.6

0.0%

FREEPORT-MCMORAN (FCX)

87.5

-12.5%

ARCH COAL INC (ACI)

86.6

-18.3%

PATTERSON-UTI ENERGY INC (PTEN)

85.9

-4.3%

POTASH CORP (POT)

83.1

-11.6%

MICRON TECHNOLOGY INC (MU)

82.6

-12.8%

CABOT OIL & GAS CORP (COG)

80.1

3.2%

NOVAGOLD RESOURCES INC (NG)

75.9

-19.7%

MOLYCORP INC (MCP)

72.0

-1.1%

LKQ CORP (LKQX)

69.5

8.9%

Value Weighted Return

3,357

-8.3%

SPY

N/A

0.8%

Chilton's largest stock holdings have lost 8.3% since the end of first quarter 2011, vs. a 0.8% gain for the [[SPY]]. WFT was Chilton's biggest investment at the end of March 2011. WFT has lost 12.8% since then, underperforming the SPY’s 0.8% return. Jana Partners' Barry Rosenstein and T. Boone Pickens also had WFT in their portfolios at the end of 2010.

ANR was Chilton's second biggest investment at the end of March 2011. ANR has lost 15.7% since then, underperforming the SPY’s 0.8% return. Chilton has $185 million invested in ANR. The stock has a market cap of $6 billion and P/E ratio of 46. In January Alpha Natural Resource agreed to buy Massey Energy for a 21% premium. Some of Alpha Natural Resources insiders were selling weeks before the announcement.

SWN has lost 0.2% since March, underperforming the SPY by 1.0 percentage points. Chilton had nearly $166 million invested at the end of March. SWN recently traded at $42.9. The stock has a market cap of $14.9 billion and P/E ratio of 26.

EOG Resources Inc has lost 9.7% since March, underperforming the SPY by 10.5 percentage points. Chilton had nearly $162 million invested at the end of March. EOG recently traded at $106.8 and has a 0.6% dividend yield. The stock has a market cap of $28.7 billion and P/E ratio of 153.3. EOG is one of the 10 stocks T. Boone Pickens is extremely bullish about. Steve Cohen has a small position in EOG.

It is a rare opportunity to imitate a hedge fund manager’s portfolio at a nearly 10% discount to the average price he paid. Chilton’s bets on precious metals, energy companies and commodity plays seem to be losing in the short-term but we think they are solid bets for the next couple of years.

Source: Richard Chilton's Favorite Stock Holdings

Additional disclosure: I am long physical gold.