Hedge Funds Boost Energy Holdings as Oil Rout Brings Opportunity
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Hedge fund managers are betting hundreds of millions of dollars that Cheniere Energy Inc., Pioneer Natural Resources Co. and Williams Cos. will be among the energy companies that survive the worst oil rout in decades.
Seth Klarman of Baupost Group bought 898,063 shares in Texas shale explorer Pioneer during the second quarter while Richard Perry’s firm added 6.26 million shares of Williams, according to regulatory filings.