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I am a CPA, CFE and have a BA in finance. I don't like to lose money.
  • Complete T. Boone Pickens And BP Capital Portfolio Update 0 comments
    May 16, 2013 2:22 PM | about stocks: AAPL, ACI, APA, APC, BAS, BP, CNX, CXO, DOW, DVN, EPD, FCX, GDP, GE, GPOR, GST, HAL, MPC, MRO, NEM, NFX, NOV, OXY, PXD, RIG, RRC, SD, SWN, TSO, VLO, WFT

    T. Boone Pickens, founder of BP Capital, has never been afraid to shake up his energy heavy portfolio and that is exactly what he was doing in the first quarter of 2013. Keeping track of T.Boone and other famous investors is a great way to learn about different investments and portfolio strategies, and the best part is you can do this for free!

    Below is a complete look at BP's portfolio as of 3/31/13:

    Portfolio

    • BP's portfolio value increased slightly to $100.9 million at the end of the first quarter, up 0.12% from its year end value of $100.789 million.

    Visual

    Here is a quick look at the portfolio:

    (click to enlarge)

    New Holdings

    • BP made several new purchases in the first quarter and the largest of them was a $9.6 million stake in Apache Corp (NYSE:APA). This investment was the second largest holding at the end of March.
    • In addition to the Apache purchase, BP added a $5.83 million stake in Tesoro (NYSE:TSO), a $5.8 million position in Marathon Pete (NYSE:MPC), $5.7 million of Gulfport Energy shares (NASDAQ:GPOR) and a $5.5 million position in Concho Resources (NYSE:CXO).
    • Basic Energy (NYSE:BAS) was also a new position held at the end of March, worth $3.07 million (3.05% of the portfolio).
    • Smaller positions were added in Newmont Mining (NYSE:NEM), Enterprise Products (NYSE:EPD), Apple (NASDAQ:AAPL), General Electric (NYSE:GE), BP (NYSE:BP) and Dow Chemical (NYSE:DOW).

    Other purchases

    • BP Capital upped the share count of its largest holding, Pioneer Natural Resources (NYSE:PXD), by 71% to $12.9 million (12.81% of the portfolio).
    • The portfolio also held 588% more shares of Goodrich Petroleum (NYSE:GDP), 214% more shares of CONSOL Energy (NYSE:CNX), 175% more shares of Arch Coal (NYSE:ACI) and 24% more shares of Occidental Petroleum (NYSE:OXY) at the end of the first quarter.

    No Changes

    • Get ready, BP Capital practically made changes to every position it held at the end of 2012. The only two with moderate changes, were a small decrease in the number of shares held in Devon Energy (NYSE:DVN), the funds fourth largest position, and another slight decrease in BP's position in Gastar (NYSEMKT:GST).

    Sell Outs

    • BP completely sold out of Marathon Oil (NYSE:MRO), National Oilwell Varco (NYSE:NOV), Newfield Exploration (NYSE:NFX), Range Resources (NYSE:RRC), Sandridge Energy (NYSE:SD), Southwestern Energy (NYSE:SWN),Transocean (NYSE:RIG) and Weatherford International (NYSE:WFT). Southwestern Energy ($10.2 million) and Range Resources ($8.548) were the largest of these investments at the end of 2012.

    Other Sales

    • 51% of BP's investment of Anadarko Pete (NYSE:APC) was sold. This position was worth $3.9 million at the end of March.
    • 79% of BP's investment in Valero (NYSE:VLO), 67% of its Halliburton (NYSE:HAL) shares and 92% of the shares held in Freeport McMoran (NYSE:FCX) were also sold. These positions were worth $3.3 million, $2.0 million and $261 thousand respectively at the end of the first quarter.

    So, do you think Mr. Pickens made the right moves? Which of these have you bought/sold lately?

    Disclosure: I am long AAPL. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

    Themes: fund-holdings Stocks: AAPL, ACI, APA, APC, BAS, BP, CNX, CXO, DOW, DVN, EPD, FCX, GDP, GE, GPOR, GST, HAL, MPC, MRO, NEM, NFX, NOV, OXY, PXD, RIG, RRC, SD, SWN, TSO, VLO, WFT
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