In this piece, we will take a look at the 15 stocks George Soros just bought and sold. If you want to see more stocks in this selection, then read 5 Stocks George Soros Just Bought and Sold.
Billionaire George Soros is one of the most famous investors of our time. Soros has been around long enough to have seen it all, starting his investment career in 1954 and forming Soros Fund Management, one of the largest and most successful hedge funds. Through the hedge fund, he turned $12 million in seed funding into over $20 billion. His hedge fund, Soros Fund, deploys a multi-pronged approach to generate returns for the billionaire investor.
Between 1970 and 2000, while actively managing the hedge fund, Soros averaged returns of 30% annually, affirming his status as one of the most successful portfolio managers. The stellar performance stems from Soros going against the grain on the belief that market prices are never efficient but distorted most of the time.
“My interpretation of financial markets directly contradicts the efficient market hypothesis which has been the prevailing theory about financial markets. That theory three claims that markets tend towards equilibrium deviations occur in a random fashion and can be attributed to extraneous shocks if that theory is valid mine is false and vice versa,” Soros once said.
Soros has always relied on scientific and free-market principles in his investment strategies, from when he worked at F.M. Mayer and founded the Quantum fund. His strategy relies on principles such as reflexivity, gradually increasing positions on improving market trends and trimming positions to lock in profits or avert the risk of significant losses. In addition, he blends his political acumen into his investments while leveraging diverse perspectives before making any critical decision.
While the US billionaire has handed over the running of his $25 billion empire to his son Alex Soros, Soros Fund Management remains one of the most talked about hedge funds on Wall Street. Likewise, the hedge fund has significantly changed its portfolio due to changing macroeconomics and monetary policy.
George Soros of Soros Fund Management
Our Methodology
We checked the latest 13F filings of Soros Fund Management and picked the stocks that the hedge fund sold (completely or partially) in the third quarter of 2023. Soros Fund Management was invested in these stocks before the start of the third quarter of this year. Some of these stocks were entirely sold off by the fund, while in others it still owns some positions.
Stocks George Soros Just Bought and Sold
15. Microsoft Corporation (NASDAQ:MSFT)
Soros Fund Management Equity Stake: $0
Microsoft Corporation (NASDAQ: MSFT) is a technology behemoth specializing in the development and provision of software services, devices, and solutions.
Soros Fund Management exited its stakes worth $3.4 million, accounting for 0.05% of the portfolio in the third quarter.
14. MongoDB, Inc. (NASDAQ:MDB)
Soros Fund Management Equity Stake: $0
New York-based MongoDB, Inc. (NASDAQ:MDB) is a technology company that provides a general-purpose database platform. MongoDB is the company’s flagship solution that operates as a multi-cloud database as a service solution. MongoDB, Inc. (NASDAQ:MDB) also offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers
MongoDB, Inc. (NASDAQ:MDB) is up by more than 100% for the year. Soros Fund Management acquired stakes in the company in the second quarter and exited in the third quarter after the stock had gained 30%.
13. NVIDIA Corporation (NASDAQ:NVDA)
Soros Fund Management Equity Stake: $0
NVIDIA Corporation (NASDAQ:NVDA) is another notable exit for the Soros Fund Management’s portfolio. The hedge fund sold stakes worth $4.2 million during the third quarter, leaving no position in the company.
12. Rocket Companies, Inc. (NYSE:RKT)
Soros Fund Management Equity Stake: $0
Rocket Companies, Inc. (NYSE:RKT) is a financial services company that offers mortgage lending, title, and settlement services, among other financial technology services. Its flagship product is Rocket Mortgage, which provides title insurance, property valuation and settlement services.
Soros Fund Management acquired stakes in Rocket Companies, Inc. (NYSE:RKT) in Q1 2023 and sold all the shares in the third quarter.
11. Tower Semiconductor Ltd. (NASDAQ:TSEM)
Soros Fund Management Equity Stake: $0
Tower Semiconductor Ltd. (NASDAQ:TSEM) operates as an independent semiconductor foundry company. It focuses on speciality process technologies for manufacturing analog-intensive mixed-signal semiconductor devices.
Tower Semiconductor Ltd. (NASDAQ:TSEM)’s been one of the underperformers in Soros Fund Management portfolio, which explains the sale of the entire stake in the third quarter.
10. Rapid7, Inc. (NASDAQ:RPD)
Soros Fund Management Equity Stake: $0
Rapid7, Inc. (NASDAQ:RPD) is one of the companies that Soros Fund Management turned to gain exposure in the burgeoning cloud computing sector, the company offers a cloud-native insight platform that allows customers to create and manage analytics-driven cybersecurity risk management programs. Rapid7, Inc. (NASDAQ:RPD)’s flagship product is InsightDR, an incident detection and response solution. But Soros Fund Management sold all its shares, valued at $1.5 million, in the third quarter after the stock had gained about 39%.
9. Pioneer Natural Resources Company (NYSE:PXD)
Soros Fund Management Equity Stake: $0
Pioneer Natural Resources Company (NYSE:PXD) was one of Soros Fund Management’s energy plays. It is an independent oil and gas exploration and Production Company that explores, develops, and produces oil, natural gas liquids, and gas.
Soros Fund Management sold all its 50,000 shares valued at $10.35 million in the third quarter.
8. Regal Rexnord Corporation (NYSE:RRX)
Soros Fund Management Equity Stake: $2.8 Million
Based in Milwaukee, Wisconsin, Regal Rexnord Corporation (NYSE:RRX) manufactures and sells industrial powertrain solutions, power transmission systems, electric motors and speciality electrical components.
Soros Fund Management trimmed its stakes in the company by 377% in the third quarter to 20,204 shares.
7. RenaissanceRe Holdings Ltd. (NYSE:RNR)
Soros Fund Management Equity Stake: $3.4 Million
RenaissanceRe Holdings Ltd. (NYSE:RNR) is a financial services company that provides reinsurance and insurance products. It operates through property, casualty and speciality segments, offering various reinsurance products.
Soros’ hedge fund reduced its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 41%, from 186,648 shares in Q2 to 111,300 in Q3 2023.
6. Alibaba Group Holding Limited (NYSE:BABA)
Soros Fund Management Equity Stake: $3.5 Million
Alibaba Group Holding Limited (NYSE:BABA) is a Chinese internet giant that provides technology infrastructure and marketing reach to help merchants better connect with customers. It has seven segments: China, International, Local, Cainiao, Cloud, Media, and Innovation.
A slowing Chinese economy is taking a toll on Alibaba Group Holding Limited (NYSE:BABA)’s fortunes, as evidenced by the 10% decline in 2023. Likewise, Soros Fund Management trimmed its exposure in Alibaba Group Holding Limited (NYSE:BABA) by 78% in the third quarter.
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Disclosure: None. 15 Stocks George Soros Just Bought and Sold is originally published on Insider Monkey.