As far as oil goes, when Boone Pickens speaks people listen. With that in mind we wondered how his stock holdings changed during the third quarter. Boone Pickens helps run an energy focused hedge fund with over $1.3 bln in assets, and below we summarize his fund's holdings as of its most recent filing. During the quarter, Mr. Pickens appears to have soured on the refiners, as he sold his remaining stakes in Tesoro (TSO) and Valero (VLO). He also lowered his stake in Dresser-Rand (DRC) by over 25%.
On the upside, Mr. Pickens initiated new positions in three new stocks, and by the looks of it, he is becoming more positive on the integrated oils. He invested $140 mln in XOM and $82 mln in CVX for a total of $222 mln. His other new position was a smaller investment ($42 mln) in Foster Wheeler (FWLT), which as of the end of the third quarter was up 138% year to date.
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