Saturday, June 12, 2010

Soros' Stocks In Focus: Gloomy Forecast

¹²Soros' Stocks In Focus After Billionaire's Gloomy Forecast

By ThetTickerspy | 12 June 2010

Billionaire financier and political activist George Soros is one of the more outspoken investors on Wall Street, and after his recent remarks at a conference in Austria, it's particularly interesting to see what his fund is bullish on in 2010. According to the transcript provided by NY Times DealBook, Soros explained, "The collapse of the financial system as we know it is real, and the crisis is far from over," at the Institute of International Finance in Vienna yesterday. Soros Fund Management, which was one of the ten largest hedge funds at the end of 2009 is now actively managed by his two sons, but investors still take keen interest in the fund's top stakes.

During the first quarter, Soros Fund Management was trimming many its largest equity positions, but the fund did increase a number of stakes as well. The firm upped its bets on electronics retailer Best Buy (BBY), telecom giant Verizon Communications (VZ), and satellite television provider DirecTV (DTV) in the first three months of 2010 while paring its positions in the SPDR Gold Trust (GLD), and oil and natural gas plays Hess (HES) and Plains Exploration & Products (PXP). Elsewhere in the energy sector, Soros was bullish on oil sands giant Suncor Energy (SU), InterOil Corporation (IOC), and Petroleo Brasileiro (PBR), adding to stakes to all three during Q1.

Soros Fund Management was one of the many firms piling into Citigroup (C) during the fourth quarter of 2009, but the stock was not among the fund's top-15 U.S.-listed equity positions at the end of the first quarter. The only notable financial bet in the portfolio was J.P. Morgan Chase & Co. (JPM), where Soros opened what would essentially equate to a new position in the first quarter. To see where you stack up against Soros, or to view some other stocks that his hedge fund has invested in, visit where members can see the firm's top positions from the latest 13F filings and a chart of their combined performance.

Pro portfolio performance is based on institutions' top-15 holdings as disclosed in quarter-end filings with the SEC. Pro performance does not take into account additional holdings beyond the top 15 nor does it include positions that are not required to be disclosed by the SEC. As such, Pro portfolio performance should be considered an approximation and not a precise record of how an institution has performed over time.

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