Deals
Pickens Fund Sells Entire $20 Million Stake in BP During Quarter
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Billionaire investor T. Boone Pickens sold his energy equity fund’s stake in BP Plc during the second quarter, exiting its largest holding by market value.
Pickens’s Dallas-based BP Capital Management LP sold 452,111 of the company’s American depositary receipts, or ADRs, in the three months ended June 30, according to a filing with the U.S. Securities and Exchange Commission yesterday. The stake in London-based BP had been valued at more than $20 million at the end of March.