5 Best Growth Stocks To Buy According To George Soros

1. Activision Blizzard Inc. (NASDAQ:ATVI)

Stake Value: $280,890,094

George Soros’ hedge fund bought 3 million shares of Activision Blizzard Inc. (NASDAQ:ATVI) during the September quarter. Investors are watching the company as Microsoft Corporation (NASDAQ:MSFT)’s $69 billion deal to acquire the company inches towards the finish line.

A total of 134 hedge funds out of the 910 funds tracked by Insider Monkey reported owning stakes in Activision Blizzard Inc. (NASDAQ:ATVI) as of the end of the second quarter of 2023.

Aristotle Capital Value Equity Strategy made the following comment about Activision Blizzard, Inc. (NASDAQ:ATVI) in its Q3 2023 investor letter:

“We first purchased Activision Blizzard, Inc. (NASDAQ:ATVI), one of the largest video game companies in the world, during the second quarter of 2023. We have long appreciated the critical role Activision Blizzard’s gaming franchises play for PlayStation, Xbox and the broader gaming industry. Moreover, we believe the company is on the path toward increasing its revenue from new products that rely on in‐game transactions and advertising, as well as through further leveraging its intellectual property from consoles and PCs into mobile games. At the time of purchase, there was heightened uncertainty regarding whether regulators would approve the pending acquisition of the company by Microsoft, a current Value Equity holding. This, we believe, provided an opportunity for us to own Activision Blizzard at an attractive discount to our estimates of intrinsic value should the company remain independent. Conversely, if the transaction commenced and Activision Blizzard was indeed acquired, we would still benefit through our investment in Microsoft. As such, rather than attempting to predict regulatory approval of the transaction, we instead saw the company as an optimal investment. With the uncertainties regarding regulatory approval nearly disappearing, we decided to exit our investment.”

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