Soros Fund Management (George Soros)
With so many holdings, it can be easy to get lost in George Soros’ portfolio. However, digging deep into the 13 F of the “man who broke the Bank of England,” we find some interesting energy sector buys … including his over 1.8 million new shares of Penn Virginia (PVA).
The stake is a small one for the $8 billion fund, but the small-cap stock could be a bigger winner long-term for Soros.
The E&P firm is already a natural gas player in the Marcellus shale, and has recently expanded heavily into the oil rich Eagle Ford via a series of acquisitions. Those buys have made PVA less tied to the fate of natural gas prices — which have kept shares in the doldrums — and more of a balanced energy producer. The company’s extremely successful $775 million debt refinancing didn’t hurt either.
Those two events could see PVA shareholders with big smiles on their faces as higher shale oil and liquids prices drive the firm’s bottom line higher. Ultimately, shares could double over the next few years as production begins to take off.
As of this writing, Aaron Levitt did not own a position in any of the aforementioned securities.