The Wall Street Journal reported March 13 about a surge in hedge fund bets on energy prices after the Russian military operation in Ukraine, with 30% returns in the first two months of the year.
“Soroban Capital Partners LP, a $10 billion stock-picking hedge fund in New York, is one of the biggest winners, making at least several hundred million dollars on the trade since February, a person familiar with the matter said. Other winners include New York macro fund Castle Hook Partners and value investor Pilgrim Global. The bet was that a years-long drop in spending on new commodity supply and efforts to limit carbon emissions would push up materials prices and shares of producers, according to people familiar with the firms.”
