A Look Inside T. Boone Pickens' Portfolio

With T. Boone Pickens dominating the oil news Thursday with his call for short-term declines from current levels, we updated our table of Mr. Pickens' hedge fund (BP Capital) holdings from his Q4 '07 13-F. As of the end of last year, his biggest holding remained Suncor Energy (SU), and he increased his share amount in the stock by 18,000 from the end of the third quarter. XOM is his second biggest holding, followed by OXY, DNR and SLB.

From the 13-F, two stocks were liquidated from his fund in Q4 -- RIG and GSF. SGR was the only stock that remained in his portfolio that he sold shares in. Mr. Pickens also added two new companies to BP Capital in the fourth quarter of last year. He added nearly 100,000 shares of Valero Energy (VLO) and 392,500 shares of Clean Energy Fuels (CLNE).

Based on his holdings at the end of last year, these positions are collectively down 7.71% on the year. ABB, JEC, SLB and KBR are down the most, while DNR, SGR, IOC and GBX are the only stocks that are up.

click to enlarge

Comments

[Greg Pinelli:]

Very interesting...the compilation of course. As usual there is no conclusion or direction..but then again, I suppose one chart is worth at least a few hundred words. Pickens is an icon..but his recent statements concerning oil and gas..are..from my view nothing more than off the cuff remarks by someone well past it...and only notable for their lack of support or reason. Look at his views in action! Pretty dismal.

2008 Feb 24 11:46 AM

[granger:]

I bet Pickens was buying the entire time, while everyone was selling to him in a panick. Remeber there are no disinterested parties whwn it comes to money. He knew what he was doing when he made that comment, just my opinion.

2008 Feb 25 05:38 AM

[whidbey:]

Looks good to me and he believes that is a coming shortage. Of course I may be "well past it", as the saying goes on this board.

2008 Feb 25 11:07 AM

[ACEMAN:]

You must know the man! He comes from the "old school" of hucksterism and wildcatter enthusiasm especially if you are a mark with a few hundred thousand to spare! He's been in and out of bankruptcy and with his new endeavor to create critical acclaim for CLNE he his back to what he likes to do best and that is to laugh all the way to the off-shore bank! Life is good for ole' Boone re natural gas now that West Texas wildcatters are as rare as bois d'arc!

2008 Feb 25 12:40 PM

[PAD:]

how can you attack T. Boone w/o mentioning the obvious? his latest new holding Clean Energy Fuels (CLNE)? T. Boone himself owns 46% of the company! he's basically propping up his own p/a at the expense of his hedge fund investors.

that being said i don't think he was using his cnbc appearance as a trading opportunity. he is worth way way too much $$$ to care about making a few bucks off a tv appearance.

his long-term predictions of even a few months ago have been absolutely spot-on. his call on the coal producers 2 years ago has been another home run. Go T. Boone! i wish my 401k was in his fund.

2008 Feb 25 01:41 PM

[Cleanandeff...:]

I myself don't know from 'shortages,' I figure anything with a price greater than zero is in shortage. And my personal opinions of Mr. Pickens don't influence my investment decisions. Facts are; it's looking like summer '08 gasoline prices at $30 / MMBtu, natural gas at $10 / MMBtu.

But for CNG retail points of sale, the U.S. natural gas delivery infrastructure is in already place. Europe and South America are moving toward greater CNG saturation, especially for fleet applications. If my company had heavy reliance on car, bus, and truck fleets, I would be screaming for CNG conversions at every opportunity.

The apparent downside is that CNG would require larger storage tanks than the gasoline equivalent. Given the track records of GM and Ford over the past 30 years, maybe they couldn't figure out a working solution.

CLNE is the right solution to the right problem, if only U.S. energy policy, whatever that is, could get out of the way. Or, could DOE or any other federal bureaucracy discover that 10 was less than 30 ?

2008 Feb 25 08:32 PM