Noble Energy, Inc. (NBL), California Resources Corp (CRC) Among Billionaire George Soros’ Top New Energy Picks

Not all of the energy plays were in oil and gas. As of the end of the first quarter, Soros Fund Management held 638,503 shares of NextEra Energy Inc (NYSE:NEE) with a value of $66.44 million, another of its new energy picks. NextEra Energy Inc (NYSE:NEE) is a $46 billion market cap renewable energy company. It owns Florida Power & Light company, the largest electric utility in the state. It also operates wind farms in California and is involved in solar and nuclear energy. NextEra Energy Inc (NYSE:NEE) shares haven’t done much this year, with the stock down by 3.5% year-to-date. Israel Englander’s Millenium Management is the largest shareholder among the funds we track, followed by Daniel Och’s OZ Management.

Of Soros’ new energy picks, Cenovus Energy Inc (USA) (NYSE:CVE) was the worst performing stock, falling by 14.4% year-to-date. His firm held 2.84 million shares of Cenovus Energy Inc (USA) (NYSE:CVE) as of the end of the first quarter with a value of $47.82 million. Cenovus Energy Inc (USA) (NYSE:CVE) is a $17 billion market cap oil sands company operating in Canada. Canadian energy stocks were hammered on May 6 after Canadian voters elected the pro-labor New Democratic Party in the province of Alberta, where much of Canada’s oil sands activity is located, ending the 44-year Progressive Conservative Dynasty. The NDP, led by Rachel Notley, a 51-year-old lawyer, promised to raise the corporate tax rate to 12% from 10% and will likely raise royalties on oil as well. Jean-Marie Eveillard’s First Eagle Investment Management and Israel Englander’s Millenium Management are the top shareholders of Cenovus Energy among the funds we track.

Disclosure: None