Billionaire Soros Hits the Energy Scene with New Gusto

What is New York billionaire-philanthropist George Soros spending his money on? New position in energy companies in Houston, Texas to the tune of $88.4 million in the first quarter of this year alone.

So far in Q1 2013, the New York-based Soros Fund Management LLC hedge fund has acquired an $8.4% stake in Apache Corp (APA), a $7.4 million stake in C&J Energy Services Inc. (CJES), a $6.5 million stake in Cameron International Corp (CAM), a $6.5 million stake in Cheniere Energy Inc. (LNG), a $16.7 million stake in Southwestern Energy co (SWN) and a $22.5 million stake in Ultra Petroleum Corp. (UPL). 

Included in this impressive energy-holdings list, Soros also increased his stake in Halliburton Co. (HAL) to 820,200 shares (worth $33 million now).

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The billionaire has been juggling things around a bit, too, selling off some stakes for others. The company divested itself of its $56 million stake in Anadarko Petroleum Corp. (APC) recently. 

At the same time, Organizing for Action (OFA) is a Soros-funded, non-profit group formed out the Obama campaign to fight Republican efforts to undermine the climate change debate. The group was formed in January by foreign campaign aides to advocate for immigration reform, gun control and climate change.

By. Charles Kennedy of Oilprice.com