In this article, we will take a look at the 10 Blue Chip Stocks to Buy Now According to Billionaire George Soros. To skip our analysis of George Soros’ profile, investment strategy, and 13F holdings, you can go directly to see the 5 Blue Chip Stocks to Buy Now According to Billionaire George Soros.
George Soros is a legendary hedge fund manager born in Budapest, Hungary, in 1930. He founded Soros Fund Management LLC, a hedge fund, in 1970, which was later converted into an investment management company primarily managing the assets of Open Society Foundations. Soros Fund Management had a portfolio valued at $5.6 billion, as of June 30, 2022.
With a net worth of $6.7 billion and a track record of successful investments, George Soros is known as ‘the man who broke the Bank of England’. Soros received this title for earning up to $1 billion of return by betting against the British Pound in September of 1992.
Soros Fund Management invests globally in a wide range of strategies and asset classes, including public equities, fixed income, commodities, foreign exchange, alternative assets, and private equity. In Q2 2022, Soros Fund Management’s 13F portfolio comprised of 238 total positions. During the quarter the investment firm increased exposure to 45 positions, reduced exposure to 46 positions, added 23 new positions and closed out 30 positions.
The cumulative weight of the 10 stocks in our list of 10 Blue Chip Stocks to Buy Now According to Billionaire George Soros accounted for 9.87% of Soros Fund Management’s 13F portfolio with the highest concentration in Amazon.com, Inc. (NASDAQ:AMZN), accounting for 3.79%.
Blue chips are generally large, well-established companies with an excellent reputation and a track record of operational and financial excellence. Blue chip stocks typically have high market capitalizations, market leadership positions, and high brand value, such as JPMorgan Chase & Co. (NYSE:JPM), NIKE, Inc. (NYSE:NKE), and Illumina, Inc. (NASDAQ:ILMN), among others.
In 2022, many blue chips as well as other stocks have not done well given the turmoil in the market with the higher inflation, the Fed interest rate raises, and the potential for an economic slowdown. If economic data continues to miss expectations, stocks could continue to decline. Nevertheless, there is an opportunity for long term investors who invest in quality blue chip companies given the lower valuations.
George Soros of Soros Fund Management
Methodology
For our list, we took 10 stocks from George Soros’ Soros Fund Management 13F portfolio at the end of Q2 2022 that we think have the right mixture of industry leadership, strong fundamentals, and growth potential. We then ranked them from #10 to #1 based on the stake value of Soros Fund Management portfolio in those stocks in the second quarter. We have also provided the number of hedge funds in our database that held shares in the stock at the end of Q2 2022.
10 Blue Chip Stocks to Buy Now According to Billionaire George Soros
10. JPMorgan Chase & Co. (NYSE:JPM)
Soros Fund Management’s Stake Value: $1,475,000
Percentage of Soros Fund Management’s 13F Portfolio: 0.02%
Number of Hedge Fund Holders: 104
JPMorgan Chase & Co. (NYSE:JPM) is one of the leading financial institutions in the US with a history dating back over 200 years. It provides services including investment banking, financial services for consumers and small business, commercial banking, financial transactions processing and asset management. The bank has over $2.6 trillion in client assets under management and serves clients across more than 100 countries.
Soros Fund Management holds 13,099 shares of JPMorgan Chase & Co. (NYSE:JPM), making up for 0.02% of the hedge fund’s 13F portfolio. Soros Fund Management’s stake decreased by 94% in Q2 2022, compared to the previous quarter.
Last month, Berenberg analyst Peter Richardson upgraded JPMorgan Chase & Co. (NYSE:JPM) to ‘Hold’ from ‘Sell’ with an unchanged price target of $120.
As of Q2 2022, 104 hedge funds out of the 895 hedge funds tracked by Insider Monkey were bullish on JPMorgan Chase & Co. (NYSE:JPM) and held its shares valued at $5.8 billion. Ken Fisher’s Fisher Asset Management was the largest shareholder holding 8 million shares valued at $900 million.
Alongside Salesforce, Inc. (NYSE:CRM), Alphabet Inc. (NASDAQ:GOOG), and Amazon.com, Inc. (NASDAQ:AMZN), JPMorgan Chase & Co. (NYSE:JPM) is a blue chip stock that was in the 13F portfolio of billionaire George Soros’ Soros Fund Management in Q2 2022.
9. The Walt Disney Company (NYSE:DIS)
Soros Fund Management’s Stake Value: $2,713,000
Percentage of Soros Fund Management’s 13F Portfolio: 0.04%
Number of Hedge Fund Holders: 109
Based in Burbank, California, Walt Disney Company (NYSE: DIS) is a worldwide entertainment company operating across Media and Entertainment Distribution, and Parks, Experiences and Products segments. It operates 6 resort destinations with 12 theme parks and 53 resorts in the US, Europe, and Asia; a cruise line with 4 ships; a beach resort in Hawaii; vacation ownership program; and two guided tour adventure businesses. The company is also home to entertainment brands such as ESPN, Disney+, Hulu, Marvel Studios, and National Geographic, among others.
Soros Fund Management owns 28,736 shares of Walt Disney Company (NYSE: DIS), accounting for 0.04% of its 13F portfolio. The number of shares held by the hedge fund remained same in Q2 2022, as compared to the previous quarter.
As of Q2 2022, 109 hedge funds tracked by Insider Monkey held shares of Walt Disney Company (NYSE: DIS), worth $3.2 billion. Ken Griffin’s Citadel Investment Group is its largest hedge fund shareholder.
Here is what Oakmark Fund had to say about The Walt Disney Company (NYSE: DIS) in its Q2 2022 investor letter:
“Disney (NYSE:DIS) is one of the most beloved consumer companies in the world. Its media business has a rich library of intellectual property, which provides a powerful engine for creating new content across the Disney, Pixar, Marvel, and Star Wars brands. This content also contributes to the success of Disney’s theme parks, which generated nearly half the company’s earnings and grew more than 10% annually in the decade prior to the pandemic. Shares have fallen nearly 50% over the past year as investors worried about the company’s ability to transition its media business to a direct-to-consumer streaming world. This transition has required management to make investments in its Disney+ streaming service that are depressing profitability today. However, we believe these investments will ultimately produce attractive returns as Disney+ continues to grow subscribers and increase pricing over time. As a result, we were able to purchase shares at a substantial discount to our estimate of intrinsic value.”
8. CME Group Inc. (NASDAQ:CME)
Soros Fund Management’s Stake Value: $6,147,000
Percentage of Soros Fund Management’s 13F Portfolio: 0.10%
Number of Hedge Fund Holders: 56
Based in Chicago, Illinois, CME Group Inc. (NASDAQ:CME) is the world’s leading derivatives marketplace. Through its trading facilities in New York and Chicago, and its CME Globex® electronic trading platform, CME Group Inc. (NASDAQ:CME) provides access to products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather, and real estate.
CME Group Inc. (NASDAQ:CME) accounts for 0.10% of Soros Fund Management’s 13F portfolio, with 30,028 shares held by the hedge fund. Soros Fund Management’s stake remained constant in Q2 2022, compared to the previous quarter.
Earlier this year in July, CME Group Inc. (NASDAQ:CME) released its financial results for Q2 2022 where revenue increased by 5% y-o-y to $1.2 billion and net income increased by 30% y-o-y to $662 million. It reported a normalized EPS of $1.97 for the quarter, beating the consensus by $0.04.
As of Q2 2022, 56 of the 895 hedge funds tracked by Insider Monkey held shares of CME Group Inc. (NASDAQ:CME), valued at $2.7 billion. GuardCap Asset Management was its largest shareholder with ownership of 4.2 million shares valued at $859 million.
7. Illumina, Inc. (NASDAQ:ILMN)
Soros Fund Management’s Stake Value: $6,389,000
Percentage of Soros Fund Management’s 13F Portfolio: 0.11%
Number of Hedge Fund Holders: 44
San Diego, California-based Illumina, Inc. (NASDAQ:ILMN) is a developer, manufacturer, and marketer of life science tools and integrated systems for large-scale analysis of genetic variation and function. Its DNA sequencing and array-based solutions are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments
George Soros’ Soros Fund Management owns 34,653 shares of Illumina, Inc. (NASDAQ:ILMN), accounting for 0.11% of its 13F portfolio. The hedge fund increased its stake by 49% in Q2 2022, as compared to the previous quarter.
In September, Piper Sandler analyst David Westenberg reaffirmed an ‘Overweight’ rating and a price target of $320 for shares of Illumina, Inc. (NASDAQ:ILMN). The analyst believes that a potential divestiture of GRAIL represents an upside to its shares.
As of Q2 2022, Illumina, Inc. (NASDAQ:ILMN) shares were held by 44 of the 895 hedge funds tracked by Insider Monkey, for a total value of $1.4 billion. Select Equity Group was the largest shareholder in the company owning 1.5 million shares valued at $268 million.
6. QUALCOMM Incorporated (NASDAQ:QCOM)
Soros Fund Management’s Stake Value: $29,327,000
Percentage of Soros Fund Management’s 13F Portfolio: 0.52%
Number of Hedge Fund Holders: 71
San Diego, California-based QUALCOMM Incorporated (NASDAQ:QCOM) is a leading wireless technology innovator and the driving force behind the development, launch and expansion of 5G technology. Its portfolio includes products for processors, modems, platforms, RF systems, and connectivity, among others.
George Soros’ Soros Fund Management owns 229,582 shares of QUALCOMM Incorporated (NASDAQ:QCOM), accounting for 0.52% of its 13F portfolio. The hedge fund increased its stake by 49% in Q2 2022, as compared to the previous quarter.
Earlier this year in July, QUALCOMM Incorporated (NASDAQ:QCOM) released its financial results for the quarter ended June 26, 2022. Its total revenue increased by 36% y-o-y to $10.9 billion, while its net income surged by 84% y-o-y to $3.7 billion. The normalized EPS was recorded at $2.96 for the quarter, beating the consensus by $0.09.
Following the earnings release in July, analysts at Mizuho and Wells Fargo raised price targets on QUALCOMM Incorporated (NASDAQ:QCOM) shares to $175 from $168 and $150 from $135, respectively.
As of Q2 2022, 71 of the 895 hedge funds tracked by Insider Monkey were long QUALCOMM Incorporated (NASDAQ:QCOM), holding shares worth $2.8 billion. Its largest hedge fund shareholder is Ken Griffin’s Citadel Investment Group.
Like QUALCOMM Incorporated (NASDAQ:QCOM), Salesforce, Inc. (NYSE:CRM), Alphabet Inc. (NASDAQ:GOOG), and Amazon.com, Inc. (NASDAQ:AMZN) are blue chip stocks that billionaire George Soros’ Soros Fund Management owned in Q2 2022.
Click to continue reading and see 5 Blue Chip Stocks to Buy Now According to Billionaire George Soros.
Suggested Articles:
15 Best Security Stocks to Buy Now
10 Best Vanguard Stocks to Buy Now
10 Best Dividend Stocks to Buy According to Billionaire Howard Marks
Disclosure: None. 10 Blue Chip Stocks to Buy Now According to Billionaire George Soros is originally published on Insider Monkey.
