First Eagle Investment Management, an investment management firm, published its first quarter 2021 investor letter – a copy of which can be downloaded here. A net return of 3.71% was delivered by the fund for the Q1 of 2021. The Fund underperformed the MSCI World Index in the period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
First Eagle Investment Management, in their Q1 2021 investor letter, mentioned Schlumberger Limited (NYSE: SLB) and shared their insights on the company. Schlumberger Limited is a Houston, Texas-based oilfield services company that currently has a $35.3 billion market capitalization. Since the beginning of the year, SLB delivered a 15.67% return, while its 12-month gains are up by 52.85%. As of April 22, 2021, the stock closed at $25.25 per share.
Here is what First Eagle Investment Management has to say about Schlumberger Limited in their Q1 2021 investor letter:
“Leading contributors in the First Eagle Global Fund this quarter included Schlumberger NV. Schlumberger was another oil-patch participant benefitting from a better commodity price environment in the first quarter, though the oil field services firm also has continued to reap the benefits of its ongoing structural reorganization. With a new CEO at the helm since mid-2019, the company has been cutting costs aggressively and repositioning its business, perhaps most notably through the sale of its US shale drilling business to focus on its areas of strength in the international arena.”
Our calculations show that Schlumberger Limited (NYSE: SLB) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Schlumberger Limited was in 50 hedge fund portfolios, compared to 53 funds in the third quarter. SLB delivered a 4.38% return in the past 3 months.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
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Disclosure: None. This article is originally published at Insider Monkey.
