Kurt Billick‘s Bocage Capital recently filed its 13F form for the June 30 reporting period. The market value of the fund’s public equity portfolio stood at $185.25 million at that time, with the energy sector representing 37% of this value. The San Francisco-based Bocage Capital was founded in 2010 with the intention of focusing on global commodities. The firm currently has about $901 million in regulatory assets under management and a total of 14 employees. The turnover ratio within the fund’s portfolio was slightly on the higher end during the second quarter, standing at 68.75%. Moreover, the firm’s equity portfolio is also highly concentrated, as its top ten holdings represent nearly 90% of the total value. We decided to look at how the fund has managed its energy investments in the face of a challenging environment for energy companies. Bocage’s top equity picks in the sector are Dynegy Inc. (NYSE:DYN), Cabot Oil & Gas Corporation (NYSE:COG), and Tesoro Corporation (NYSE:TSO). We don’t just track the latest moves of hedge funds. We are, in fact, more interested in their 13F filings, which we use to determine the top 15 small-cap stocks held by the funds we track. We gather and share this information based on 16 years of research which showed that these 15 most popular small-cap picks have a great potential to outperform the market, beating the S&P 500 Total Return Index by nearly one percentage point per month in backtests, and easily beating the most popular large-cap picks of funds, which nonetheless get the... More