Here are some of the key facts, figures and noteworthy results of the 2015 All-America Research Team survey, Institutional Investor’s exclusive annual ranking of the nation’s leading sell-side equity analysts.
Number of analysts on the team: 285
Number of firms they represent: 31
Number of analysts who meet the eligibility criteria: 2,159*
Number of firms they represent: 147*
(*Information about analysts who meet minimum-vote and other eligibility criteria but do not make the team — which is limited to the top three analysts or squads in each sector, plus runners-up where applicable — is available from the Institutional Investor Research Group. For information please contact Alyssa Walker at 212-224-3677 or awalker@iiresearchgroup.com.)
Number of participating buy-side individuals: 3,800
Number of participating buy-side institutions: 1,047
Total U.S. equity assets under management of participating buy-side institutions: $11.3 trillion
Most popular sectors (as measured by number of voters**):
Portfolio Strategy (winner: François Trahan, Cornerstone Macro)
Economics (Nancy Lazar, Cornerstone Macro)
Quantitative Research (Yin Luo, Deutsche Bank Securities)
Internet (Carlos Kirjner-Neto, Sanford C. Bernstein & Co.)
Biotechnology/Large-Cap (Mark Schoenebaum, Evercore ISI)
Most popular sectors (as measured by number of votes**):
Portfolio Strategy (winner: François Trahan, Cornerstone Macro)
Internet (Carlos Kirjner-Neto, Sanford C. Bernstein & Co.)
Software (Kasthuri Rangan, Bank of America Merrill Lynch)
Oil & Gas Exploration & Production (Robert Brackett, Sanford C. Bernstein & Co.)
Oil Services & Equipment (James West, Evercore ISI)
(**Survey participants may name up to four analysts per sector.)
Most popular analysts (as measured by votes cast in each sector):
Mark Schoenebaum of Evercore ISI, Biotechnology/Large-Cap
Nancy Lazar of Cornerstone Macro, Economics
Mark Schoenebaum of Evercore ISI, Pharmaceuticals/Major
Yin Luo of Deutsche Bank Securities, Quantitative Research
Ed Hyman of Evercore ISI, Economics
Analysts making their first appearances in first place:
Michael Blum of Wells Fargo Securities, leader of the top-ranked team in Master Limited Partnerships
Jamie Cook of Credit Suisse, Engineering & Construction
Ronald Epstein of Bank of America Merrill Lynch, Aerospace & Defense Electronics
Patrick Jobin of Credit Suisse, Alternative Energy
Carlos Kirjner-Neto of Sanford C. Bernstein & Co., Internet
Nancy Lazar of Cornerstone Macro, Economics
Umer Raffat of Evercore ISI, Pharmaceuticals/Specialty
Stacy Rasgon of Sanford C. Bernstein & Co., Semiconductors
J. Michael Webber Jr. of Wells Fargo Securities, Shipping
Analysts who capture first place in more than one sector:
Mark Schoenebaum of Evercore ISI:
Biotechnology/Large-Cap
Biotechnology/Mid- & Small-Cap
Pharmaceuticals/Major
Benjamin Swinburne of Morgan Stanley:
Cable & Satellite
Media
Analysts who top one sector and rank in at least one other:
Robert Brackett of Sanford C. Bernstein & Co.:
Oil & Gas Exploration & Production (No. 1)
Natural Gas (No. 3)
Philip Cusick of J.P. Morgan:
Telecom Services (No. 1)
Cable & Satellite (No. 2)
Yin Luo of Deutsche Bank Securities:
Quantitative Research (No. 1)
Accounting & Tax Policy (No. 2)
Portfolio Strategy (runner-up)
Other analysts who appear in multiple sectors:
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Joseph Allman of J.P. Morgan:
Natural Gas (runner-up)
Oil & Gas Exploration & Production (runner-up)
Dennis DeBusschere of Evercore ISI:
Equity-Linked Strategies (leader of runner-up team)
Portfolio Strategy (runner-up)
Julien Dumoulin-Smith of UBS:
Alternative Energy (No. 2)
Electric Utilities (No. 2)
Robin Farley of UBS:
Leisure (No. 2)
Gaming & Lodging (runner-up)
Jay Gelb of Barclays:
Insurance/Life (runner-up)
Insurance/Nonlife (runner-up)
Zalman (Shneur) Gershuni of UBS:
Master Limited Partnerships (leader of the No. 3 team)
Natural Gas (runner-up)
Kenneth Goldman of J.P. Morgan:
Food (No. 2)
Retailing/Food & Drug Chains (runner-up)
Michael Goldstein of Empirical Research Partners:
Portfolio Strategy (No. 2)
Quantitative Research (No. 3)
Richard Gross II of Barclays:
Master Limited Partnerships (leader of the No. 2 team)
Natural Gas (runner-up)
John Hodulik of UBS:
Cable & Satellite (runner-up)
Telecom Services (runner-up)
Kenneth Hoexter of Bank of America Merrill Lynch:
Airfreight & Surface Transportation (No. 2)
Shipping (runner-up)
Robyn Karnauskas of Deutsche Bank Securities:
Biotechnology/Large-Cap (runner-up)
Biotechnology/Mid- & Small-Cap (runner-up)
Douglas Leggate of Bank of America Merrill Lynch:
Integrated Oil (No. 2)
Oil & Gas Exploration & Production (No. 3)
Gabriel Moreen of Bank of America Merrill Lynch:
Master Limited Partnerships (leader of runner-up team)
Natural Gas (runner-up)
Robert Morris of Citi:
Natural Gas (No. 2)
Oil & Gas Exploration & Production (runner-up)
Ross Muken of Evercore ISI:
Life Science & Diagnostic Tools (No. 3)
Health Care Technology & Distribution (runner-up)
Krishnan Sankaranarayanan of Bank of America Merrill Lynch:
Alternative Energy (runner-up)
Semiconductor Capital Equipment (runner-up)
Eric Schmidt of Cowen and Co.:
Biotechnology/Large-Cap (runner-up)
Biotechnology/Mid- & Small-Cap (runner-up)
Christopher Schott of J.P. Morgan:
Pharmaceuticals/Major (No. 2)
Pharmaceuticals/Specialty (No. 3)
Savita Subramanian of Bank of America Merrill Lynch:
Quantitative Research (No. 2)
Portfolio Strategy (runner-up)
Michael Yee of RBC Capital Markets:
Biotechnology/Mid- & Small-Cap (No. 2)
Biotechnology/Large-Cap (runner-up)
Sectors with the highest number of runners-up:
Natural Gas (eight)
Biotechnology/Mid- & Small-Cap and Chemicals (six each)
Number of analysts making their first appearance on the team: 30 (the full list can be found here)
