Billionaire Jorge Paulo Lemann‘s 3G Capital made some major changes in its equity portfolio during the final quarter of 2015 and is reaping rich dividends this year. The equity portfolio of the fund saw a quarterly turnover of 112% during the October-December period and sported stakes in several energy companies at the end of 2015. Most of those stakes were initiated in the fourth quarter, including four of the fund’s top five stock picks, which were all from the energy space. The small rebound in oil and natural gas prices, which ensued a turnaround in the energy sector during the first quarter has translated well for 3G’s equity portfolio this year. Analysis done by Insider Monkey of the fund’s 13F holdings in companies worth at least $1 billion shows that the 35 long positions held by the fund delivered a weighted average return of 7.9% during the first quarter. Since the fund’s major holdings are the ones which have contributed the most to its gains during the quarter, in this post, we are going to take analyze how 3G’s top five stock picks at the end of 2015 performed individually during the first quarter.
| TIME WARNER CABLE INC | 1,544,837 | -11,347 | $286,706 |
| SPDR S&P 500 ETF TR (SPY) | $148,463 | ||
| Call | 10,000 | +10,000 | $148,463 |
| SUNCOR ENERGY INC NEW | 3,000,000 | +3,000,000 | $77,403 |
| CHEVRON CORP NEW | 700,000 | +400,000 | $62,972 |
| DIAMONDBACK ENERGY INC | 800,000 | +800,000 | $53,520 |
| YUM BRANDS INC | 625,000 | +625,000 | $45,656 |
| SANTANDER CONSUMER USA HDG I | 2,500,000 | +442,858 | $39,625 |
| EQT CORP | 750,000 | +750,000 | $39,098 |
| STEEL DYNAMICS INC | 2,000,000 | UNCH | $35,740 |
| CSX CORP | 1,350,000 | -110,054 | $35,033 |
| AERCAP HOLDINGS NV | 800,000 | -211,143 | $34,528 |
| AVIS BUDGET GROUP | 925,000 | +109,424 | $33,568 |
| BERRY PLASTICS GROUP INC | 900,000 | +200,000 | $32,562 |
| NUCOR CORP | 800,000 | +800,000 | $32,240 |
| SEALED AIR CORP NEW | 722,036 | +255,269 | $32,203 |
| MARATHON PETE CORP | 600,000 | -400,000 | $31,104 |
| SILVER WHEATON CORP | 2,500,000 | -500,000 | $31,050 |
| MICROSOFT CORP | 550,000 | -438,034 | $30,514 |
| LYONDELLBASELL INDUSTRIES N | 350,000 | +100,000 | $30,415 |
| CIMAREX ENERGY CO | 300,000 | +300,000 | $26,814 |
| SELECT SECTOR SPDR TR (XLU) | $25,982 | ||
| Call | 8,000 | +8,000 | $25,982 |
| CANADIAN PAC RY LTD | 200,000 | +200,000 | $25,520 |
| RSP PERMIAN INC | 1,000,000 | +1,000,000 | $24,390 |
| TWENTY FIRST CENTY FOX INC | 811,019 | -136,005 | $22,027 |
| ROYAL GOLD INC | 600,000 | +350,000 | $21,882 |
| TWENTY FIRST CENTY FOX INC | 773,128 | -134,695 | $21,052 |
| PARSLEY ENERGY INC | 1,000,000 | +1,000,000 | $18,450 |
| POTASH CORP SASK INC | 1,000,000 | +1,000,000 | $17,120 |
| ENBRIDGE INC | 500,000 | +500,000 | $16,620 |
| BAKER HUGHES INC | 350,000 | +350,000 | $16,153 |
| ADVANCE AUTO PARTS INC | 105,721 | +105,721 | $15,912 |
| REALOGY HLDGS CORP | 418,668 | +418,668 | $15,353 |
| KINDER MORGAN INC DEL | $15,099 | ||
| KMI | 1,000,000 | +500,000 | $14,920 |
| Call | 15,000 | +15,000 | $179 |
| CITIGROUP INC | 254,298 | -116,342 | $13,160 |
| BHP BILLITON LTD | 500,000 | +500,000 | $12,880 |
| CHENIERE ENERGY PTNRS LP HLD | 700,000 | +700,000 | $12,180 |
| WHITING PETE CORP NEW | 1,000,000 | +1,000,000 | $9,440 |
| EXXON MOBIL CORP | $8,009 | ||
| XOM | 1,000,000 | +1,000,000 | $77,950 |
| Put | 10,000 | +10,000 | $69,941 |
| HOLLYFRONTIER CORP | $5,712 | ||
| Call | 15,000 | +5,000 | $5,712 |
| SOUTHERN COPPER CORP | $2,530 | ||
| Call | 20,000 | +20,000 | $2,530 |
| VALERO ENERGY CORP NEW | $1,764 | ||
| Call | 10,000 | +10,000 | $1,764 |
| PEABODY ENERGY CORP | $500 | ||
| SDCV 4 | 10,000,000 | +10,000,000 | $500 |
| SPDR GOLD TRUST (GLD) | $260 | ||
| Call | 10,000 | UNCH | $260 |
| HESS CORP | $1 | ||
| Call | 2,500 | +2,500 | $1 |
| CONOCOPHILLIPS | 20,000 | +20,000 | $-30,013 |
| Put | 10,000 | +10,000 | $46,690 |
| JPMORGAN CHASE & CO | $0 (exited) | ||
| Put | 0 | -15,000 | $0 |
| CF INDS HLDGS INC | $0 (exited) | ||
| CF | 0 | -300,000 | $0 |
| C&J ENERGY SVCS LTD | $0 (exited) | ||
| CJES | 0 | -500,000 | $0 |
| CORELOGIC INC | $0 (exited) | ||
| CLGX | 0 | -458,237 | $0 |
| CONTINENTAL RESOURCES INC | $0 (exited) | ||
| CLR | 0 | -1,000,000 | $0 |
| CANADIAN NAT RES LTD | $0 (exited) | ||
| CNQ | 0 | -1,000,000 | $0 |
| CABOT OIL & GAS CORP | $0 (exited) | ||
| COG | 0 | -1,500,000 | $0 |
| GREEN PLAINS INC | $0 (exited) | ||
| GPRE | 0 | -250,000 | $0 |
| HALLIBURTON CO | $0 (exited) | ||
| HAL | 0 | -200,000 | $0 |
| LIBERTY GLOBAL PLC | $0 (exited) | ||
| LBTYA | 0 | -100,000 | $0 |
| LIBERTY GLOBAL PLC | $0 (exited) | ||
| LBTYK | 0 | -100,000 | $0 |
| CHENIERE ENERGY INC | $0 (exited) | ||
| LNG | 0 | -100,000 | $0 |
| MONSANTO CO NEW | $0 (exited) | ||
| MON | 0 | -189,783 | $0 |
| NEWFIELD EXPL CO | $0 (exited) | ||
| NFX | 0 | -700,000 | $0 |
| PLATFORM SPECIALTY PRODS COR | $0 (exited) | ||
| PAH | 0 | -2,250,143 | $0 |
| PRICELINE GRP INC | $0 (exited) | ||
| PCLN | 0 | -22,483 | $0 |
| PDC ENERGY INC | $0 (exited) | ||
| PDCE | 0 | -300,000 | $0 |
| PEABODY ENERGY CORP | $0 (exited) | ||
| SDCV 4 | 0 | -10,000,000 | $0 |
| PIONEER NAT RES CO | $0 (exited) | ||
| PXD | 0 | -300,000 | $0 |
| RELIANCE STEEL & ALUMIUM CO | $0 (exited) | ||
| RS | 0 | -500,000 | $0 |
| SCHLUMBERGER LTD | $0 (exited) | ||
| SLB | 0 | -400,000 | $0 |
| SUNEDISON INC | $0 (exited) | ||
| SUNE | 0 | -800,000 | $0 |
| WILLIAMS COS INC DEL | 0 | -700,000 | $0 (exited) |
| WMB | 0 | -700,000 | $0 |