There is never shortage of news about George Soros. The latest is that he is among the highest paid hedge fund managers in 2009, taking home about $3.3 billion. Few details were given on how he achieved his deed and that leave people curious.
We are rather curious too.
At GuruFocus, we only track his stock portfolio. At the end of the 2009, he owned about $6.95 billion distributed among 697 stocks. It appears that he is one of those hedge funds who run their funds under quantitative models, and who may or may not have in-depth knowledge about the individual stocks he owns.
Like Dave Tepper, who took home $4.0 billion and was the highest paid in 2009, Soros probably did not make his money by trading stocks alone. Each of the Gurus has a wider circle of competence than most of us can comprehend.
But stocks are what we focus on. Here is the sector allocation information for the past two quarters:
He noticeably increased holdings in financials and healthcare, but reduced weighting in oil & gas.
Few literatures exist on how Soros selects his stocks, but he gave away some of his trade secret in the Charlie Rose interview back in 2008. When asked where he would put his money, Soros said something interesting: "I think I am trying to balance things so I will lose my capital. Since most my investments are long and most of my macro-positions are short to balance".
That brings out the question of what are his “investments” and what are his “macro positions”. Despite the diversified holding and frequent trading patter, stocks fall into the “long” and “investment” category.
It is his “short” and “macro” positions that we simply do not have information on.
These are his top holding “investments”:
Street Tracks Gold Shares offer investors a relatively cost efficient to access the gold market. Spider Gold Shares has a market cap of $40.71 billion; its shares were traded at around $110.26 .
Soros built a position in GLD in the late part of 2008 and the entire year of 2009.
History of George Soros with GLD
No. 2: Petroleo Brasileiro S.A.Petrobras (PBR, Financial), Weightings: 5.3% - 7,732,197 Shares[/b]
PETROBRAS-ADR C is an integrated company operating in exploration, production, refining, retailing and transportation of petroleum and its byproducts at home and abroad. Petroleo Brasileiro S.a.petrobras has a market cap of $115.12 billion; its shares were traded at around $45.38 with a P/E ratio of 12.61 and P/S ratio of 1.24. The dividend yield of Petroleo Brasileiro S.a.petrobras stocks is 0.78%. Petroleo Brasileiro S.a.petrobras had an annual average earning growth of 25.5% over the past 10 years. GuruFocus rated Petroleo Brasileiro S.a.petrobras the business predictability rank of 3-star.
Soros has been trading in and out of this stock:
History of George Soros with PBR
No. 3: Hess Corp. (HES, Financial), Weightings: 5.02% - 5,763,463 Shares
Hess Corporation, is a global integrated energy company engaged in the exploration for and the production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products, electricity. Hess Corp. has a market cap of $20.91 billion; its shares were traded at around $63.7 with a P/E ratio of 32.34 and P/S ratio of 0.71. The dividend yield of Hess Corp. stocks is 0.63%. Hess Corp. had an annual average earning growth of 8.4% over the past 10 years. GuruFocus rated Hess Corp. the business predictability rank of 4.5-star.
This is one of Soros’s core Oil & Gas holdings:
History of George Soros with HES
No. 4: Monsanto Company (MON, Financial), Weightings: 4.56% - 3,879,900 Shares[/b]
Monsanto is a global provider of technology-based solutions and agricultural products for growers and downstream customers, such as grain processors and consumers, in the agricultural markets. Monsanto Company has a market cap of $38.65 billion; its shares were traded at around $70.83 with a P/E ratio of 20.83 and P/S ratio of 3.3. The dividend yield of Monsanto Company stocks is 1.5%. Monsanto Company had an annual average earning growth of 18.2% over the past 10 years.
Soros held this stock for a long time and has recently stepped up buying pace.
History of George Soros with HES
No. 5: Citigroup Inc. (C, Financial), Weightings: 4.51% - 94,697,095 Shares
Citigroup Inc., the global financial services company. Citigroup Inc. has a market cap of $95.57 billion; its shares were traded at around $4.18 with and P/S ratio of 1.05.
Soros joined other famed money managers in 4Q09 to establish a position in this trouble financial company.
No. 6: Suncor Energy Inc. (SU, Financial), Weightings: 3.64% - 7,162,478 Shares
SUNCOR ENERGY is a world leader in mining and extracting crude oil from the vast oil sands deposits of northern Alberta. Suncor Energy Inc. has a market cap of $53.15 billion; its shares were traded at around $34.05 with a P/E ratio of 51.59 and P/S ratio of 2.23. The dividend yield of Suncor Energy Inc. stocks is 1.12%. Suncor Energy Inc. had an annual average earning growth of 17.5% over the past 10 years. GuruFocus rated Suncor Energy Inc. the business predictability rank of 4.5-star.
This is yet another oil & gas company that Soros has a heavy position in.
Conclusion
It appears that George Soros’s stock holding is not as spread-out as the number of stocks he own suggests. Also, his holds some of his stocks quite long too.
GuruFocus provides real time information and insights of Investment Gurus such as Warren Buffett and George Soros for Premium Members. If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.
We are rather curious too.
At GuruFocus, we only track his stock portfolio. At the end of the 2009, he owned about $6.95 billion distributed among 697 stocks. It appears that he is one of those hedge funds who run their funds under quantitative models, and who may or may not have in-depth knowledge about the individual stocks he owns.
Like Dave Tepper, who took home $4.0 billion and was the highest paid in 2009, Soros probably did not make his money by trading stocks alone. Each of the Gurus has a wider circle of competence than most of us can comprehend.
But stocks are what we focus on. Here is the sector allocation information for the past two quarters:
| Industry | 2009-09-30 | 2009-12-31 |
|---|---|---|
| Technology | 5.4% | 4.2% |
| Financials | 2.8% | 6.6% |
| Utilities | 2.9% | 1.8% |
| Telecommunications | 6.4% | 4.7% |
| Consumer Services | 16.6% | 14.9% |
| Health Care | 6.6% | 10.3% |
| Consumer Goods | 2.5% | 4.8% |
| Industrials | 2.5% | 2% |
| Basic Materials | 8% | 4.1% |
| Oil & Gas | 35.8% | 29.9% |
He noticeably increased holdings in financials and healthcare, but reduced weighting in oil & gas.
Few literatures exist on how Soros selects his stocks, but he gave away some of his trade secret in the Charlie Rose interview back in 2008. When asked where he would put his money, Soros said something interesting: "I think I am trying to balance things so I will lose my capital. Since most my investments are long and most of my macro-positions are short to balance".
That brings out the question of what are his “investments” and what are his “macro positions”. Despite the diversified holding and frequent trading patter, stocks fall into the “long” and “investment” category.
It is his “short” and “macro” positions that we simply do not have information on.
These are his top holding “investments”:
Street Tracks Gold Shares offer investors a relatively cost efficient to access the gold market. Spider Gold Shares has a market cap of $40.71 billion; its shares were traded at around $110.26 .
Soros built a position in GLD in the late part of 2008 and the entire year of 2009.
| Symbol | Quarter ended on | Value ($1000) | Shares | Share Price |
|---|---|---|---|---|
| GLD | 20091231 | 662,998 | 6,178,342 | $ 107.31 |
| GLD | 20090930 | 242,214 | 2,450,320 | $ 98.85 |
| GLD | 20090630 | 2,827 | 31,000 | $ 91.19 |
| GLD | 20090331 | 4,514 | 50,000 | $ 90.28 |
| GLD | 20081231 | 303 | 3,500 | $ 86.57 |
No. 2: Petroleo Brasileiro S.A.Petrobras (PBR, Financial), Weightings: 5.3% - 7,732,197 Shares[/b]
PETROBRAS-ADR C is an integrated company operating in exploration, production, refining, retailing and transportation of petroleum and its byproducts at home and abroad. Petroleo Brasileiro S.a.petrobras has a market cap of $115.12 billion; its shares were traded at around $45.38 with a P/E ratio of 12.61 and P/S ratio of 1.24. The dividend yield of Petroleo Brasileiro S.a.petrobras stocks is 0.78%. Petroleo Brasileiro S.a.petrobras had an annual average earning growth of 25.5% over the past 10 years. GuruFocus rated Petroleo Brasileiro S.a.petrobras the business predictability rank of 3-star.
Soros has been trading in and out of this stock:
| Symbol | Quarter ended on | Value ($1000) | Shares | Share Price |
|---|---|---|---|---|
| PBR | 20091231 | 368,671 | 7,732,197 | $ 47.68 |
| PBR | 20090930 | 340,546 | 7,419,297 | $ 45.9 |
| PBR | 20090630 | 402,355 | 9,818,323 | $ 40.98 |
| PBR | 20090331 | 962,904 | 31,601,715 | $ 30.47 |
| PBR | 20081231 | 901,206 | 36,798,937 | $ 24.49 |
| PBR | 20080930 | 930,740 | 21,177,237 | $ 43.95 |
| PBR | 20080630 | 811,485 | 11,456,800 | $ 70.83 |
| PBR | 20071231 | 17,286 | 300,000 | $ 57.62 |
| PBR | 20070630 | 24,133 | 796,000 | $ 30.32 |
| PBR | 20070331 | 995 | 40,000 | $ 24.88 |
| PBR | 20061231 | 3,090 | 120,000 | $ 25.75 |
| PBR | 20060930 | 1,677 | 80,000 | $ 20.96 |
| PBR | 20060630 | 2,679 | 120,000 | $ 22.33 |
No. 3: Hess Corp. (HES, Financial), Weightings: 5.02% - 5,763,463 Shares
Hess Corporation, is a global integrated energy company engaged in the exploration for and the production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products, electricity. Hess Corp. has a market cap of $20.91 billion; its shares were traded at around $63.7 with a P/E ratio of 32.34 and P/S ratio of 0.71. The dividend yield of Hess Corp. stocks is 0.63%. Hess Corp. had an annual average earning growth of 8.4% over the past 10 years. GuruFocus rated Hess Corp. the business predictability rank of 4.5-star.
This is one of Soros’s core Oil & Gas holdings:
| Symbol | Quarter ended on | Value ($1000) | Shares | Share Price |
|---|---|---|---|---|
| HES | 20091231 | 348,690 | 5,763,463 | $ 60.5 |
| HES | 20090930 | 277,157 | 5,184,381 | $ 53.46 |
| HES | 20090630 | 275,372 | 5,123,198 | $ 53.75 |
| HES | 20090331 | 198,388 | 3,660,302 | $ 54.2 |
| HES | 20081231 | 218,733 | 4,077,802 | $ 53.64 |
| HES | 20080930 | 171,218 | 2,085,988 | $ 82.08 |
| HES | 20080630 | 69,878 | 553,750 | $ 126.19 |
| HES | 20060930 | 6,022 | 145,400 | $ 41.42 |
No. 4: Monsanto Company (MON, Financial), Weightings: 4.56% - 3,879,900 Shares[/b]
Monsanto is a global provider of technology-based solutions and agricultural products for growers and downstream customers, such as grain processors and consumers, in the agricultural markets. Monsanto Company has a market cap of $38.65 billion; its shares were traded at around $70.83 with a P/E ratio of 20.83 and P/S ratio of 3.3. The dividend yield of Monsanto Company stocks is 1.5%. Monsanto Company had an annual average earning growth of 18.2% over the past 10 years.
Soros held this stock for a long time and has recently stepped up buying pace.
| Symbol | Quarter ended on | Value ($1000) | Shares | Share Price |
|---|---|---|---|---|
| MON | 20091231 | 317,182 | 3,879,900 | $ 81.75 |
| MON | 20090930 | 87,200 | 1,126,614 | $ 77.4 |
| MON | 20090630 | 39,092 | 525,851 | $ 74.34 |
| MON | 20080630 | 18,334 | 145,000 | $ 126.44 |
| MON | 20080331 | 626 | 5,612 | $ 111.55 |
| MON | 20071231 | 1,036 | 9,277 | $ 111.67 |
| MON | 20070930 | 809 | 9,431 | $ 85.78 |
| MON | 20070630 | 500 | 7,410 | $ 67.48 |
| MON | 20070331 | 418 | 7,597 | $ 55.02 |
No. 5: Citigroup Inc. (C, Financial), Weightings: 4.51% - 94,697,095 Shares
Citigroup Inc., the global financial services company. Citigroup Inc. has a market cap of $95.57 billion; its shares were traded at around $4.18 with and P/S ratio of 1.05.
Soros joined other famed money managers in 4Q09 to establish a position in this trouble financial company.
No. 6: Suncor Energy Inc. (SU, Financial), Weightings: 3.64% - 7,162,478 Shares
SUNCOR ENERGY is a world leader in mining and extracting crude oil from the vast oil sands deposits of northern Alberta. Suncor Energy Inc. has a market cap of $53.15 billion; its shares were traded at around $34.05 with a P/E ratio of 51.59 and P/S ratio of 2.23. The dividend yield of Suncor Energy Inc. stocks is 1.12%. Suncor Energy Inc. had an annual average earning growth of 17.5% over the past 10 years. GuruFocus rated Suncor Energy Inc. the business predictability rank of 4.5-star.
This is yet another oil & gas company that Soros has a heavy position in.
Conclusion
It appears that George Soros’s stock holding is not as spread-out as the number of stocks he own suggests. Also, his holds some of his stocks quite long too.
GuruFocus provides real time information and insights of Investment Gurus such as Warren Buffett and George Soros for Premium Members. If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.
