Tags: Daily Caller | George Soros | Fossil Fuel | Invest

Daily Caller: Soros Invested $238 Million in 11 Fossil Fuel Firms in 2016

Daily Caller: Soros Invested $238 Million in 11 Fossil Fuel Firms in 2016

 (AP/J Scott Applewhite)

By    |   Monday, 06 February 2017 08:29 AM

Billionaire George Soros in 2016 invested $238 million in 11 oil and gas companies, The Daily Caller News Foundation Investigative Group has learned.

“The total value of his family-owned Soros Fund Management is estimated at $2.7 billion.  He has 207 stocks in this fund with a high 33 percent turnover,” the Daily Caller reported, citing his federal financial filings, 

"Soros’ chief investment officer (CIO) — who was fired last year — purchased 116 new stocks, among them oil and gas companies. The fund’s CIO post has seen a high turnover.  Seven individuals have served as the Soros’ CIO since 2000," the Daily Caller reported.

Soros spent $93 million purchasing 3.1 million shares in Williams Company stock. Williams is a Tulsa, Okla.-based company. It was Soros’s largest energy bet in 2016, the report said.

The second largest Soros energy investment last year was $54 million he paid to buy 3.7 million shares in Columbia Pipeline, an oil and gas pipeline company, the report said,

The other oil and gas companies in the Soros portfolio include Petroleo Brasilerosa, California Resources, Valvoline, Rice Energy, Targa Resources and Diamondback, the report said.

To be sure, many of Soros' investment moves have been recently scrutinized in the press.

Late last month, some of Soros’ short positions dating back to 2012 were published on the Dutch financial market regulator’s website due to “human error,” according to the Dutch Authority for Financial Markets (AFM).

The short positions, bets on a stock declining, were “between 0.2 percent and 0.5 percent,” of shares outstanding in the companies shorted AFM spokesman Ward Snijders told Bloomberg.

The Financial Times earlier reported that some of the positions, including bets against Dutch banks, appeared briefly on the website on Tuesday evening. One Dutch bank in which short positions were revealed Tuesday was ING Groep NV, according to the Financial Times. ING declined to comment on Thursday.

The Dutch market authority apologized after admitting it had accidentally published details of short positions in stocks on its website beyond what it normally discloses.

(Newsmax wire services contributed to this report).

© 2021 Newsmax Finance. All rights reserved.


StreetTalk
Billionaire George Soros in 2016 invested $238 million in 11 oil and gas companies, according to his federal financial filings, The Daily Caller News Foundation Investigative Group has learned.
Daily Caller, George Soros, Fossil Fuel, Invest
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2017-29-06
Monday, 06 February 2017 08:29 AM
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