Hedge Fund Beats Peers With Bets on Oil Tankers While Cutting AI A Hong Kong hedge fund that outperformed peers says shipping stocks are a better trade than artificial intelligence, given the risks of tech companies overspending. HD Capital Ltd.’s flagship fund allocated 11% of its portfolio in oil transport and 6.1% in shipbuilders as of April, making them its largest exposure. The $200 million multi-asset fund beat 97% of its peers this year and over a five-year period, based on industry data provider With Intelligence. “The tanker cycle could remain strong well into 2028–2029, as new capacity won’t arrive until then,” said Michael Wang, chief investment officer at HD Capital. “Supply is tightly constrained, while demand can easily be triggered by geopolitical shocks. That’s why the shipping cycle has visibility for years ahead.” (Bloomberg)