Soros

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).