What's Next for Billionaire Oilman Pickens?

• By the tickerspy.com Staff
• On 8:18 am EST, Wednesday November 4, 2009

Though much slimmed down after a disastrous 2008, legendary oilman T. Boone Pickens' hedge fund portfolio has been faring well.

2008 was brutal for Pickens. BP Capital, his energy-focused hedge fund, had fallen by about -60% on the year through late October, a loss at that point of an astonishing $2 billion from the hedge fund's July peak. Pickens waved restrictions on cash withdrawals by investors at the end of 2008, and the redemption rate for his equity fund was 65%, according to Bloomberg.

Meanwhile, Pickens has seen mixed results for his "Pickens Plan," which promotes an energy policy focusing on natural gas and wind energy in order to reduce dependence on oil. Pickens' own wind farm plans saw delays due to challenges in the capital markets.

Pickens, who is probably the most closely watched prognosticator on energy prices, told CNBC last month that, thanks to purchases by China, crude could hit $90 a barrel in 2010.

With Pickens seeing higher crude prices on the horizon, the various energy-oriented names among his top, U.S.-listed, equity positions at the end of Q2 have been faring well. Posting steady gains for the period are oil and gas companies Anadarko Petroleum (NYSE: APC - News), Questar (NYSE: STR - News), Forest Oil (NYSE: FST - News), Cabot Oil and Gas (NYSE: COG - News), and Devon Energy (NYSE: DVN - News), as well as natural gas producer Chesapeake Energy (NYSE: CHK - News).

Investors won't be sure of where Pickens stands now until later this month, when the deadline for end-of-Q3 filings hits. At tickerspy.com, members can track Pickens' latest holdings, see a graph of their combined performance, and be notified when new holdings are made public.

Pro portfolio performance is based on institutions' top-15 holdings as disclosed in quarter-end filings with the SEC. Pro performance does not take into account additional holdings beyond the top 15 nor does it include positions that are not required to be disclosed by the SEC. As such, Pro portfolio performance should be considered an approximation and not a precise record of how an institution has performed over time.

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