New York (HedgeCo.net) – Recent 13F filings showed that a number of top hedge funds added energy stocks during the second quarter. However, there was very little overlap in terms of the stocks that the funds were adding and in some cases, there wasn’t even a consensus on what type of energy stocks to add.

Carl Icahn and Icahn Associates added oil and gas pipeline company Cheniere Energy (NYSE: LNG). Dan Loeb’s Third Point added Devon Energy (NYSE: DVN), an oil and gas explorer and producer. One of the few energy stocks that saw more than one hedge fund add it was Williams Companies, another pipeline company, which was added by Barry Rosenstein’s Jana Partners and Eric Mindich’s Eton Park Capital.

One particular energy play that raised eyebrows was that of George Soros. Soros has long been a proponent of fossil fuels, but in the most recent quarter he added shares of two different coal companies—Arch Coal (NYSE: ACI) and Peabody Energy (NYSE: BTU). While he may oppose using coal as an energy source, apparently he doesn’t mind trying to make a profit off rising stock prices.

Rick Pendergraft
Research Analyst
HedgeCoVest