$3 Billion Hedge Fund’s Top 10 Stock Bets

8. Antero Midstream Corp (NYSE:AM)

Return since Q1 End: 6.8%

Antero Midstream Corp (NYSE:AM) is a growth-oriented midstream company focused on developing energy infrastructure primarily serving Antero Resources.

Brendan Krueger, CFO of Antero Midstream, was reported saying the following in Antero Midstream Corp (NYSE:AM)‘s Q1 2024 Earnings Call, “The first quarter of 2024 was a record-breaking quarter, both financially and operationally. Antero Midstream’s organic growth strategy delivered a 4% and 6% increase in gathering and processing volumes, respectively, compared to last year. We delivered double-digit EBITDA growth, combined with double-digit declines in capital year-over-year. The growing EBITDA and declining capital resulted in $182 million of free cash flow before dividends and $74 million of free cash flow after dividends, both of which were company records. All of this record free cash flow was utilized to reduce absolute debt during the quarter.”

According to the Regulatory filings, Cinctive Capital Management owned 1.8 million shares in Antero Midstream Corp (NYSE:AM) at the end of the first quarter of 2024 worth $26 million, representing 1.21% of the portfolio. Among the hedge funds being tracked by Insider Monkey, Aventail Capital Group is a leading shareholder in Antero Midstream Corp (NYSE:AM) with over 2 million shares worth $38 million.