Solar Focused Hedge Funds

We last stopped by HedgeTracker in April's "Top Public Pension Funds Shun Solar Stocks". In today's email inbox we find "Partner Fund, Cavalry Asset Management and Prescott Group join the Top Solar-Focused Hedge Fund List":

HedgeTracker.com has released its latest list of Top Solar-Focused hedge funds, and the Q1 2009 list includes a few newcomers: Partner Fund Management, Cavalry Asset Management and Prescott Group Capital Management. The funds selected for the list had the greatest percentage of their US equity assets under management invested in US-listed Solar Stocks as of 3/31/09 (see complete list of stocks below).

Like Q4 2008, the Q1 2009 list includes both Tracer Capital Management and Crosslink Capital. Last quarter, NY-based Tracer Capital held all of its solar holdings, 10% of its total equity portfolio, in First Solar Inc. (FSLR). Tracer Capital diversified its solar portfolio this quarter by purchasing 400,000 shares ($2.4 mm) in Yingli Green Energy Holding (YGE). Over the quarter, the hedge fund manager reduced its holdings in FSLR, selling 56,720 shares, bringing its FSLR exposure to 80,000 shares ($10.6 mm). At the end of the first quarter, the firm’s overall investments in the solar sector stood at 8.97% of its $145 mm in equity assets under management.

Sy Kaufman and Michael Stark’s Crosslink Capital remained on the list despite the fact that it sold out of its SunPower Corp (SPWRB) and Energy Conversion Devices (ENER) positions, -125,800 and -206,700 shares, respectively. The hedge fund manager also trimmed its holdings in First Solar Inc. (FSLR) by 10,700 shares, bringing its holdings to 148,852 shares ($19.75 mm). On the buying side, Crosslink Capital entered into a new position in JA Solar Holdings Co. (JASO), purchasing 1,608,200 ($5.42 mm). Crosslink Capital’s overall exposure to the solar sector stood at 5.4% of its $464 mm US Equity portfolio....MUCH MORE