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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 10, 2025 | Guinness Global Energy | - | 5.3% | BP, CNQ, COP, CVE, CVX, DVN, E, ENB, EOG, EQNR, FANG, GALP.LS, IMO, KMI, OMV.VI, PTR, REP.MC, SHEL, SU, TTE, XOM | dividends, energy, Geopolitical, Natural Gas, oil, Opec, valuation | Oil prices rose sharply intra-month due to Israel-Iran conflict, with Brent reaching $80/bl before falling back to $68/bl. OPEC+ continues increasing production quotas while US shale production growth slows due to lower rig counts and capital discipline. | View | |
| 2025 Q1 | Apr 30, 2025 | Guinness Global Energy | 9.4% | 9.4% | BP, CNQ, COP, CVE, CVX, DVN, E, ENB, EOG, EQNR, FANG, GALP.LS, IMO, KMI, OMV.VI, PTR, REP, SHEL, SU, TTE, XOM | dividends, energy, Geopolitical, global, Natural Gas, oil, value | Oil prices remained robust with Brent averaging $75/bl in Q1 2025, supported by lower supply expectations and geopolitical tensions. The managers believe oil remains good value at around 2.7% of global GDP, well below historical averages. They see potential for higher prices driven by OPEC+ production management and geopolitical supply disruptions. | View | |
| 2024 Q1 | Apr 30, 2024 | Guinness Global Energy | - | 10.2% | BP, CNQ, COP, CVE, CVX, DVN, E, EOG, EQNR, FANG, GALP.LS, IMO, OMV.VI, PTR, PXD, REP.MC, SHEL, SU, TTE, XOM | dividends, energy, free cash flow, Gas, oil, Opec, valuation | Oil prices strengthened in March driven by tighter supply/demand fundamentals, Middle Eastern tensions, and good OPEC+ compliance. Brent rose 16% year-to-date while 5-year forward prices increased 5%. The fund sees oil remaining affordable at current levels, representing only 2.8% of global GDP versus 30-year average of 3%. | View | |
| 2023 Q3 | Sep 30, 2023 | Diamond Hill International | 5.7% | 12.4% | 7751.T, CFR.SW, CNQ, CPG.L, DNP.WA, FFH.TO, FMFL.NS, FUC.DE, HDFCBANK.NS, HWDN.L, IMO, KCR.HE, SAP.DE, SN.L, WALMEX.MX | Banking, China, energy, Europe, inflation, international, rates, value | Energy names including Canadian Natural Resources, Imperial Oil and Japan Petroleum Exploration Company benefited from rising oil prices in Q3 as WTI crude rose from roughly $71/barrel to $90/barrel. The manager maintains conviction in energy holdings despite anticipated ongoing volatility tied to oil price movements. | View | |
| 2024 Q2 | Jul 31, 2024 | Guinness Global Energy | 0.0% | 10.3% | BP, CNQ, COP, CVE, CVX, DVN, E, EOG, EQNR, FANG, GALP.LS, IMO, OMV.VI, PTR, REP.MC, SHEL, SNP, SU, TTE, XOM | dividends, energy, Free Cash, global, Natural Gas, oil, Opec, valuation | Oil prices strengthened in June with WTI closing at $81.5/bl and Brent at $87/bl. OPEC+ maintained production quotas while aspiring to add spare capacity back in 2025. The managers see oil demand growth of 1.0-1.3m b/day in 2024, with aviation being a key driver as global flights are now 13% above 2019 levels. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Aug 8, 2025 | Seeking Alpha | RB Equity | Imperial Oil | Energy | Oil & Gas Integrated | Neutral | NYSE | — | View Pitch |
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| Steven A. Cohen | Point72 Asset Management | $86.8B | $14.2M | 0.02% | 164,795 | +164,795 | +100.00% | 0.0239% |
| David Burrows | Barometer Capital Management | $415.3M | $947,100 | 0.23% | 57,400 | -68,492 | -54.41% | 0.0016% |
| Israel Englander | Millennium Management LLC | $233.2B | $2.4M | 0.00% | 27,897 | +18,401 | +193.78% | 0.0040% |
| Jeremy Grantham | GMO LLC | $39.1B | $826,059 | 0.00% | 9,549 | -7,900 | -45.27% | 0.0014% |
| David Siegel & John Overdeck | Two Sigma Investments | $67.5B | $854,469 | 0.00% | 9,900 | -900 | -8.33% | 0.0014% |
| Cliff Asness | AQR Capital Management | $190.6B | $24.0M | 0.01% | 277,929 | +214,152 | +335.78% | 0.0403% |
| Rich Handler | Jefferies | $19.3B | $3.1M | 0.02% | 35,331 | +22,644 | +178.48% | 0.0051% |
| Richard Kayne & John Anderson | Kayne Anderson Rudnick Investment Management | $37.3B | $21,588 | 0.00% | 250 | +0 | +0.00% | 0.0000% |