Hedge Fund Adds 1.9 Million Shares of Utility Stock, According to Latest SEC Filing
Why it matters: A major hedge fund's investment signals strong belief in utilities, especially with AI driving electricity demand.
- 12 West Capital Management LP established a new position in Hawaiian Electric Industries, acquiring 1,850,000 shares, representing 2.71% of its 13F reportable assets under management.
- Hawaiian Electric Industries provides electric utility services, operates a community bank, and invests in renewable energy, serving residential, commercial, and military customers across Hawaii.
- Utility stocks, including Hawaiian Electric, have experienced an impressive run, with HE shares up 29.9% over the past year, largely due to increased electricity demand from the artificial intelligence industry's data centers.
Hedge fund 12 West Capital Management LP has made a significant bet on Hawaiian Electric Industries (HE), acquiring 1.85 million shares valued at $22.75 million. This move signals confidence in the utility sector, which has seen a boost from the surging demand for electricity driven by the AI industry.
