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.