Noam Gottesman is a hedge fund billionaire who co-founded GLG Partners in 1995 under the Lehman Brothers International (Europe). According to Forbes real-time net worth calculator, Mr. Gottesman ranks 318 on the list of the richest billionaires in the United States with a net worth of $2.1 billion. Man Group PLC bought GLG Partners in 2010 for $1.6 billion and Gottesman subsequently stepped down from the CEO post. GLG Partners offers investment services under the leadership of two co-CEOs, Teun Johnston and Mark Jones. The investment firm focuses towards alternative and long-only investment opportunities. In the recent 13F filing of GLG Partners, the firm reported a public equity portfolio with $3.86 billion worth of holdings, with its primary investment sectors being finance, information technology, and healthcare. While analyzing the equity portfolio of GLG Partners, we discovered that the firm had three energy stocks in its top ten stock holdings, with them being Cheniere Energy, Inc. (NYSEMKT:LNG), Halliburton Company (NYSE:HAL), and NextEra Energy Inc (NYSE:NEE). We’ll discuss these positions in detail in this article.
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Cheniere Energy, Inc. (NYSEMKT:LNG) is the top equity investment of GLG Partners, which reported ownerhsip of 1.05 million shares worth $72.54 million. The investment firm boosted its stake in the energy company by 49% in comparison to the previous quarter. Carl Icahn of Icahn Capital LP has shown interest in Cheniere Energy, Inc. (NYSEMKT:LNG), with the hedge fund reporting ownership of 19.35 million shares of the company. The stake represents 8.18% of the overall outstanding common shares of the liquefied natural gas company. Cheniere Energy, Inc. has attracted investments from 76 hedge funds in our database, holding aggregate positions worth $9.00 billion. The shares of Cheniere Energy declined 10% during the second quarter, contributing towards an overall drop of 7.70% in aggregate investments during the second quarter. Seth Klarman’s Baupost Group was the largest shareholder of Cheniere Energy, Inc. (NYSEMKT:LNG) in our database as of June 30, holding 15.37 million shares valued at $1.06 billion. Viking Global, led by Andreas Halvorsen, was among the hedge funds cutting their stake in the company during the second quarter. The investment manager dropped 4.12 million shares of Cheniere Energy, closing the quarter with ownership of 11.32 million shares having a market value of $784.33 million.
GLG Partners increased its stake in Halliburton Company (NYSE:HAL) by 264% during the second quarter. The investment firm had 1.47 million shares of the oil company, valued at $63.31 million. The shares of Halliburton have declined by 9.61% year-to-date due to weaker crude oil prices. The oil company reported better-than-expected second quarter financial results on July 20, posting diluted earnings per share of $0.44 against market estimates of $0.29. However, after accounting for special items, Halliburton Company (NYSE:HAL) reported earnings per share of $0.06 for the quarter. The energy company entered into a definitive agreement with Baker Hughes Incorporated (NYSE:BHI) on November 17, 2014 for the acquisition of the latter. The transaction is still awaiting regulatory approval from the appropriate authorities. Despite the current volatility in the share price of Halliburton, hedge funds have shown faith in its management. Out of 731 actively reporting hedge funds that we track at Insider Monkey, 69 reported equity positions in the energy company as of June 30, with those positions worth $4.21 billion, up from aggregate holdings of $2.99 billion from three months earlier. These gains become even more noteworthy after considering that the shares of Halliburton Company dropped by 2.96% during the second quarter. ValueAct Capital’s Jeffrey Ubben was the top stockholder of Halliburton Company (NYSE:HAL) at the end of the second quarter, possessing 37.52 million shares valued at $1.62 billion.
NextEra Energy Inc (NYSE:NEE) is another energy stock in GLG Partners’ portfolio, with the portfolio possessing 521,067 shares of it valued at $51.08 million. The investment manager increased its position in the electric power company by 164% during the second quarter. NextEra Energy Inc (NYSE:NEE) reported strong second quarter financial results on August 3, with reported adjusted earnings per share of $1.56 against market estimates of $1.50 per share. The energy company is negotiating its terms of acquisition for Hawaiian Electric Industries, Inc. (NYSE:HE), announced in December of last year. The transaction is valued at $4.3 billion and is likely to be completed in 2016. Smart money held a positive outlook for NextEra Energy Inc (NYSE:NEE) during the second quarter, with 38 hedge funds having aggregate holdings of $2.42 billion in the company. The net investments in the company dropped by only 2% in comparison with the previous quarter, despite of a 5.79% decline in its share price during the same period, meaning that the hedge funds bought additional shares in the second quarter. Daniel S. Och of OZ Management was the largest shareholder of NextEra Energy Inc (NYSE:NEE), having a position worth $432.08 million made up of 4.41 million shares.
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