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Whale Watching: George Soros, John Paulson

Monday, 15 Nov 2010 | 6:40 PM ET

*UPDATE: An earlier version of this post incorrectly stated that Soros sold shares of Arena Pharma. He did not. We apologize for the error.

It's that time of the quarter - when big investors reveal how they're positioned. It's 13F time!

And on Monday the desk heard from two of the biggest Wall Street whales in the financial sea; George Soros and John Paulson.

George Soros

Billionaire investor George Soros in the third quarter reduced some of his big bets on gold, a market he has called "the ultimate bubble."

Whale Watching
Investor George Soros ups stake in Interoil and other stocks.

In a quarterly securities filing on Monday, Soros Fund Management reported it owned 4.7 million shares of the SPDR Gold Trust at the end of the third quarter, down from 5.2 million at the end of June.

Soros also trimmed positions in miners including Barrick Gold , and Newmont Mining . He held unchanged large positions in NovaGold Resources and Kinross Gold .

Looking at some other positions, the investing legend has added to his positions in InterOil , and Apple . He also bought shares of American Axle in the last quarter.

He cut his holdings in Akamai and AMR Corp .

What’s the takeaway?

I'm curious about Soros' bullish bet on IOC, says Guy Adami. Whitney Tilson thinks it's a short. They're both smart guys and it's going to end badly for one of them.

Given the price action in Akamai, I think this 13F could put more pressure on the stock.

I find his position in American Axle interesting, adds Brian Kelly. That gets him in front of the GM IPO.


John Paulson

As bearish as Soros is on gold, John Paulson is almost equally bullish. The following table shows his five largest holdings as of Sept. 30, 2010.

STOCK VALUE ($MIL) SHARES(THOU) CHANGE
1. SPDR Gold $4,029.1 31,500.0 no change
2. AngloGold Ashanti $1,895.8 41,000.0 down
3. Bank of America $1,805.5 137,794.2 down
4. Citigroup Inc $1,657.8 424,000.0 down
5. Hartford Fin $1,009.8 44,000.0 no change

The takeaway here is that Paulson is long gold but reducing his stake in blue chip financials, says CNBC's Tyler Mathison. Ontop of a reduced position in Citigroup which you can see from the chart he's also cut his stake in Wells Fargo, JP Morgan and eliminated his stake in Goldman Sachs.

What’s the takeway?

His position in gold makes all the sense in the world to me, says Joe Terranova. I see no reason to sell gold.

Paulson & Co. Gold Position Unchanged
An update on Paulson & Co. cutting its share stake in Capital One, with CNBC's Tyler Mathisen and Carter Worth, Oppenheimer.

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As you may know, money managers like Soros and Paulson are required to file form 13-F within 45 days after the end of each quarter. The forms include only U.S.-listed equity securities and related derivatives. Bonds, other securities and short positions are typically not disclosed.

Managers may also leave off U.S.-listed equities they own under certain circumstances or file some holdings on confidential filings.




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Trader disclosure: On November 15, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL), (BAC), (POT); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Terranova owns (UPL), (C), (PEP), (OIH), (HES), (AXP), (GS), (FCX), (VRTS), (POT), (AAPL), (IBM), (DIS), (MCD)

For Brian Kelly
Accounts Managed By Kanundrum Capital Own (C)
Accounts Managed By Kanundrum Capital Own (FCX)
Accounts Managed By Kanundrum Capital Own (GLD)
Accounts Managed By Kanundrum Capital Own (MOT)
Accounts Managed By Kanundrum Capital Own (SLV)
Accounts Managed By Kanundrum Capital Own (MT)
Accounts Managed By Kanundrum Capital Own (IEF)
Accounts Managed By Kanundrum Capital Own (TIP)
Accounts Managed By Kanundrum Capital Own (ANDE)
Accounts Managed By Kanundrum Capital Own (REE)
Accounts Managed By Kanundrum Capital Own (MCP)
Accounts Managed By Kanundrum Capital Own (GDXJ)
Accounts Managed By Kanundrum Capital Own (TD)
Accounts Managed By Kanundrum Capital Own (AWI)
Accounts Managed By Kanundrum Capital Own (HD)
Accounts Managed By Kanundrum Capital Are Long Euro
Accounts Managed By Kanundrum Capital Own (XHB)
Accounts Managed By Kanundrum Capital Own (CLF)
Accounts Managed By Kanundrum Capital Own (JJG)
Accounts Managed By Kanundrum Capital Own (JO)
Accounts Managed By Kanundrum Capital Are Short (YEN)


For Dan Niles
Alpha One Capital Partners And Niles Own AAPL, HPQ, QCOM Alpha One Capital Partners owns (BRCM)
Alpha One Capital Partners has positions in (JNPR)

For Carter Worth
***No Disclosures***

For Mike Khouw
***No Disclosures***

For Greg Hess
***No Disclosures***

CNBC.com with wires.

  Price   Change %Change
ABX
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AKAM
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AAL
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AXL
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GLD
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IOC
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K
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NEM
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NG
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AAPL
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