Soros Fund Management LLC is well-regarded as one of the most successful and high-profile hedge funds, largely due to its long record of performance. George Soros, the fund's high profile and politically influential founder, is considered one of the best living currency and equity investors, with a net worth estimated at over $14 billion.
Funds like Soros Fund Management are required to provide quarterly filings that state what positions the fund was holding at the end of the prior quarter. By looking at these filings, we are able to ascertain what investments, if any, acclaimed investors may have initiated in the recent past, as well as what investments they might have dropped.
Below is a list of Soros Fund Management's largest newly added or initiated investments, according to the fund's most recently filed 13F. This filing does not include all investments made by the fund, as the 13F only includes positions in U.S. equities. These such investments would have been made during the first quarter of 2012, but the precise date or time are not stated, beyond that the find did hold them at the end of the quarter. The positions are listed alphabetically. I have only included individual equities. The fund did also acquire some positions in various exchange traded funds.
CVR Energy (CVI)
Soros Fund Management acquired about a 3,745,600 shares in CVI during the first quarter of 2012. Also during the first quarter, Carl Icahn offered to purchase CVI for $30 per share. This investment appears to be an example of merger arbitrage, where the hedge fund took a position that it deemed had little risk, given the strong likelihood of the Icahn deal. Nonetheless, CVI has sustained a substantial recent decline. See a recent performance chart for CVI:
Soros Fund Management acquired 682,000 shares in this large cap energy provider. Chevron is a Dow Jones Industrial Average Component and is regularly a Dog of the Dow. Chevron has declined since the end of the first quarter, along with almost every other oil and gas investment. See a recent performance chart for CVX:
Soros Fund Management acquired 1,445,000 shares in the well-known retailer. Soros has previously held positions in Macy's. The retailer performed exceptionally well during the first four months of 2012, but have since become more volatile. Nonetheless, M shares are still trading above their 2012 starting price, and have snapped back, sharply, from their recent spike downward. See a recent performance chart for M:
SunTrust Banks (STI)
Soros Fund Management acquired 3,188,000 shares in the U.S. Bank. Like most banks, STI appreciated at a rapid pace to start of 2012, and subsequently spent March and April range-bound, only to decline in May. Despite a recent move downward, the bank is sill substantially higher than it was at the start of the year. See a recent performance char of STI:
Tesoro Corp (TSO)
Soros Fund Management acquired 1,274,000 shares in the oil and gas refiner and marketer. Tesoro appreciated by about 40 percent during the first quarter, but due to recent energy commodity weakness and demand fears due to a problematic European Union, TSO has given back most to all of its first quarter's gains. See a recent performance char of TSO:
Disclaimer: This article is intended to be informative and should not be construed as personalized advice as it does not take into account your specific situation or objectives.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.