T. Boone Pickens’ Hedge Fund Concentrates on Energy, Drops Basic Materials

BP Capital Management’s second quarter SEC filing shows that the hedge fund manager is focusing solely on energy companies these days. While the firm’s founder and Chief Investment Officer T. Boone Pickens has been publically supporting clean energy technologies, his stock portfolio suggests that he is still a strong believer in dirty energy. After selling-out of its basic materials sector holdings, the fund now holds 100% of its portfolio in the energy sector, specifically oil and natural gas companies.

BP Capital’s top holding, offshore oil drilling and exploration company Transocean Inc, was trimmed over the quarter by 125,000 shares / $9.2mm.

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