T. Boone Pickens Hedge Fund: Top Four Energy Holdings

Suncor Energy Inc. (SU) jumped more than 7% on Tuesday as oil topped $129 per barrel and billionaire energy icon T. Boone Pickens said prices would hit $150 in 2008.

But Suncor, the number two producer in Alberta’s oilsands, which saw its biggest gain since August 2002, is also a key holding in Mr. Pickens’ hedge fund. At the end of the first quarter, Suncor accounted for 11% of the portfolio, or roughly $180-million, second to only Occidental Petroleum Corp. (OXY) at 12%, according to Bespoke Investment Group.

Transocean Inc. (RIG), an international provider of offshore contract drilling services for oil and gas wells, and oilfield service firm Schlumberger Ltd. (SLB), rounded out the top four, which were all energy related and accounted for 40% of the total.

Suncor was one of the fund’s top performers, climbing more than 34% in the first quarter.

Comments

[ace22:]

wow this guys making out like a bandit i want to know what hes holding at all times, how do i go about finding out?

2008 May 22 08:19 AM

[legmaker:]

Ace22, go to stockpickr.com and look up T. Boone Pickens, they have his holdings there.

2008 May 22 08:59 AM

[sunrises:]

Hi FP trading desk,

These days with oil volatility, RIG still holds a very nice value play.

Growth 5yr ~33%, PE 9.8, PEG 0.317, Mcap ~46.04B

GS rates Buy, cnbc's J.Cramer & FM recommended recent buy. In fact, Pete & Joe T. (guest) stated Rig is going up.


Target is upto $198

2008 Jun 04 01:32 AM

[sunrises:]

Note to clarify:

J. Cramer has a longstanding bullish rate on RIG & FM has recommended recently to buy as RIG is heading up.

2008 Jun 04 11:26 AM