Soros: No Signs Of Inflation In The U.S. (PBR, HES, IOC, SU, GLD, VZ, T, AAPL, MOT, GOOG)
Billionaire investor George Soros is never shy about sharing his political opinion, and he spoke up on stimulus spending over the weekend. According to coverage by Bloomberg, Soros said there are no signs of inflation in the U.S., citing weak demand for 10-year Treasury bonds. When demand returns, Soros believes, “That’s the time to cut back, not now.” Back in June, Soros said, “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. While Soros’ hedge fund is now actively managed by his two sons, it will be interesting to see where it was placing bets as global economic optimism waned in the second quarter.
A look at Soros Fund Management’s top-15 U.S.-listed equity positions from the latest 13F disclosures shows that the firm had a number of big bets in the energy sector. Petroleo Brasileiro (PBR), Hess (HES), InterOil Corporation (IOC), and Suncor Energy (SU) were all among the fund’s largest bets at the end of the first quarter.
Elsewhere, Soros pared his stake in the SPDR Gold Trust (GLD) early this year, and given his stance on U.S. inflation, as well as the recent European debt turmoil, it will be particularly interesting to see whether the firm adjusted its gold exposure during Q2.
Soros entered the second quarter with notable stakes in telecom giants Verizon Communications (VZ) and AT&T (T). Both stocks yield upwards of 6% based on current values and payments over the last year. Recent developments tied to Apple’s (AAPL) iPhone, which remains AT&T exclusive in the U.S., and various offerings from HTC, Motorola (MOT), and others on Google’s (GOOG) Android operating system will make it interesting to see Soros leaned farther towards Verizon after boosting its stake during the first quarter.
Investors will be privy to Soros’ end-of-Q2 equity portfolio when the next round of 13F filings are due next month. Until then, you can Soros’ biggest bets from the latest filings and a chart of their combined performance at tickerspy.com.
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