Soros' 13F Shows Increased Bets on Energy and New Stakes in JPMorgan, PNC, US Bancorp; Aggressively Sold Pfizer

George Soros' Soros Fund Management has just issued its 13F for the quarter ended March 31, 2010. The manager sold a piece of his GLD ETF position, but made big bets in energy elsewhere; Soros added to stakes in Petrobras, Suncor, NovaGold, Cobalt and PetroHawk. Soros also built new positions in financials like JPMorgan, PNC and US Bancorp and in the air carrier AMR Corp. The fund reduced its exposure to Pfizer, Comcast and Monsanto.

Notable Changes:

• sold about 592,000 shares in SPDR Gold Trust (NYSE: GLD), bringing his stake to under 5.59 million shares
  
• purchased almost 1.4 million shares in Petrobras (NYSE: PBR), which now makes the stock his fund's second largest holding with about $337 million in market value
  
• bought 1.6 million in Suncor (NYSE: SU), bringing his position to 8.77 million shares
  
• raised his stake in DirecTV (NYSE: DTV) by 1.13 million shares to 5.23 million share
  
• sold about 675,000 shares in Monsanto (NYSE: MON), but still owns about 3.2 million shares of the ag company
  
• boosted his position in NovaGold (NYSE: NG) by 15.2 million shares to 18.7 million shares
  
• bought another 300,000 shares of Best Buy (NYSE: BBY), bringing his stake to 3.37 million shares
  
• took out a new position in PNC (NYSE: PNC); now owns 907,000 shares
  
• took out a new 2.5 million share stake in JPMorgan (NYSE: JPM)
  
• sold almost half of his position in the Financial Select Sector SPDR ETF (NYSE: XLF), down from about 12 million shares to about 6.49 million shares
  
• sold more than half his Pfizer (NYSE: PFE) shares; still has 5.33 million shares
  
• reduced his stake in Comcast (Nasdaq: CMCSA) by 1.13 million shares to 3.28 million shares
  
• maintained a 3.5 million share position in Yahoo! (Nasdaq: YHOO)
  
• took out a new 5.96 million share stake in Cobalt International Energy (NYSE: CIE)
  
• took out a new 2 million share stake in US Bancorp (NYSE: USB)
  
• added 2.4 million shares to his position in Goodyear (NYSE: GT); he now owns 3.24 million shares
  
• added a 1.77 million share position in Telecom Argentina (NYSE: TEO)
  
• took out a new 1.3 million share stake in PetroHawk (NYSE: HK)
  
• sold 9.3 million shares of Ford (NYSE: F), bringing his position to just 1.66 million shares
  
• bought 2.3 million shares in AMR Corp. (NYSE: AMR), a completely new position for his fund
  
• reduced the stake in Dana Holdings (NYSE: DAN) by 4.6 million shares to 1.03 million shares
  
• also added relatively small positions in Nokia (NYSE: NOK), Office Max (NYSE: OMX), MEMC Electronic Materials (NYSE: WFR) and Conexant (Nasdaq: CNXT)

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