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:
- 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)
