George Soros' Son Is Bullish On The S&P 500: 2 High Yielding Stocks Soros Capital Management Is Holding Through The Volatility

Zinger Key Points
  • The SPDR S&P 500 ETF is Robert Soros second most help position, accounting for 13% of the total portfolio. 
  • Since the start of the year, Suncor repurchased approximately $3.9 billion of its common shares.
George Soros' Son Is Bullish On The S&P 500: 2 High Yielding Stocks Soros Capital Management Is Holding Through The Volatility

Robert Soros is the founder of Soros Capital Management and the eldest son of billionaire investor George Soros. Robert Soros began his career with Soros Fund Management in 1994 and stepped down as deputy chairman and president in June 2017.

When Robert Soros Stepped down, Soros Fund Management had assets under management of $26 billion.

He then formed Soros Capital Management, a family office based in New York, that made its name backing the Japanese deferred online payment service company Paidy, which was acquired by Paypal Holdings Inc PYPL in 2021 for $2.7 billion.

Here are two dividend stocks Soros Capital Management holds in his portfolio.

SPDR S&P 500 ETF Trust SPY is offering a dividend yield of 1.66% or $6.39 per share annually, utilizing quarterly payments, with an inconsistent track record of increasing its dividend payments. The SPDR S&P 500 ETF is an exchange-traded fund designed to track the S&P 500 stock market index, and is one of the largest and oldest ETFs in the world.

As of the second quarter, Soros Capital Management holds call options on 80,000 shares of SPY, up 15,000 shares from the first quarter 13F filings. The SPDR S&P 500 ETF is Robert Soros' second most held position, accounting for 13% of the total portfolio. 

Go To: George Soros' Investment Firm Takes Position In Tesla, Bulks Up On These Tech Stocks In Q2

Suncor Energy Inc SU is offering a dividend yield of 6.06% or $1.88 per share annually, through quarterly payments, with an inconsistent track record of increasing its dividend payments. Suncor Energy is an integrated energy company and is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen.

Interim President and Chief Executive Officer Kris Smith said, “Our confidence in our business and expected annual cash flows enabled us to return approximately $3.2 billion of value to our shareholders, which includes both the highest dividend per share and highest rate of share repurchases in the company’s history”.

Since the start of the year, Suncor repurchased approximately $3.9 billion of its common shares, representing approximately 88.5 million common shares at an average share price of $44.40 per common share, as of August 2, 2022.

In the second quarter, Soros Capital Management reduced its position in Suncor by 300,600 shares, now accounting for 7.4% of the total portfolio.

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