Seeking Alpha – HedgeTracker.com recently released its list of Top Solar-Focused Hedge Funds. The funds selected for the list had the greatest percentage of their US equity assets under management invested in US-listed Solar Stocks. As of 12/31/08, the top funds had between 7.9% and 21% of their assets invested in the solar sector. The hedge fund with the highest exposure to the solar sector was Ionic Capital Management, which held over 21% of its $207 mm assets in US Solar companies.
The firm’s positions were widely spread across 6 solar companies, Suntech Power Holdings $18.3mm, LDK Solar Co. $10.7mm, Energy Conversion Devices $5.4mm, Trina Solar, $3.2mm, Solarfun Power Holdings $3.2mm, JA Solar Holdings ($2.4mm}. Notably, the hedge fund manager, which has a Deep Value investment style, had no exposure to First Solar, which was overwhelmingly the favorite among the other 4 managers on the list.