This article presents an overview of 5 Stocks George Soros and Insiders Are Crazy About. For a detailed overview of such stocks, read our article, 10 Stocks George Soros and Insiders Are Crazy About.
5. Energy Transfer LP Unit (NYSE:ET)
Soros Fund Management’s Stake: $6,592,950
Kelcy Warren, who is the Executive Chairman and Chairman of the Board of Directors of Energy Transfer LP Unit (NYSE:ET), bought 3 million shares of Energy Transfer LP Unit (NYSE:ET) at $12.96 per share on August 17. Since then through March 12 the stock has gained about 16%.
George Soros’ fund had a $6.6 millions stake in Energy Transfer LP Unit (NYSE:ET) as of the end of the fourth quarter of 2023.
Silver Beech Capital made the following regarding Energy Transfer LP (NYSE:ET) in its fourth quarter 2023 investor letter:
Energy Transfer LP (NYSE:ET) owns and operates the largest and most balanced collection of energy infrastructure assets in the United States. ET’s assets include 125,000 miles of oil and natural gas pipelines, export facilities on both the Gulf Coast and East Coast, and more than 1 million barrels per day of natural gas liquid fractionation capacity. ET accounts for 20% of worldwide natural gas liquid exports. Further, ET is uniquely connected to every major hydrocarbon basin in the United States.
By assembling energy infrastructure to gather, process, transport, and store hydrocarbons, ET connects exploration and production companies (“E&Ps”) with downstream end users such as gas stations, utilities, and export facilities. As an end-to-end midstream solution, ET enables its customers to focus on their portion of the value chain without the burden of significant but essential midstream logistics. ET’s services thus add tremendous value to all constituents of the energy marketplace.
Though natural gas is a relatively clean source of fuel, restrictive federal and state regulations and other permissions severely restrict the building of natural gas pipelines and other infrastructure in North America that would help facilitate abundant hydrocarbon production. Pipelines are by far the cheapest and greenest method of transporting hydrocarbons; pipelines reduce emissions from truck transport and reduce congestion on highways, rail, and shipping routes…” (Click here to read the full text)
4. Renaissancere Holdings Ltd (NYSE:RNR)
Soros Fund Management’s Stake: $19,652,920
Insurance and business services company Renaissancere Holdings Ltd (NYSE:RNR) is one of the stocks on the radar of billionaire George Soros’ fund and corporate insiders. Renaissancere Holdings Ltd’s (NYSE:RNR) CEO Kevin J. O’Donnell on May 25 amassed 13,020 shares of Renaissancere Holdings Ltd (NYSE:RNR) at $192.00 per share. Since then through March 12 the stock has gained about 21%. George Soros’ fund had a stake worth about $20 million in Renaissancere Holdings Ltd (NYSE:RNR) heading into 2024.
TimesSquare Capital U.S. Mid Cap Growth Strategy made the following comment about RenaissanceRe Holdings Ltd. (NYSE:RNR) in its Q3 2023 investor letter:
“In Financials, we prefer well-placed insurance companies and niche businesses while tending to avoid banks which face credit deterioration and rising deposit costs. RenaissanceRe Holdings Ltd. (NYSE:RNR), a provider of reinsurance and insurance products, surged ahead by 6%. Its second quarter numbers were solid across underwriting, property catastrophe premiums, investment income, and fee income. While there was an impact from severe storms during the quarter, RenRe’s losses were modest.”
3. Alteryx Inc (NYSE:AYX)
Soros Fund Management’s Stake (CALL): $21,382,344
Alteryx Inc (NYSE:AYX) ranks third in our list of the stocks George Soros’s hedge fund and insiders are buying. On February 15, Dean Stoecker, who is a director at Alteryx Inc’s (NYSE:AYX) board as well as a 10% stake owner, bought 42,500 shares of Alteryx Inc (NYSE:AYX) at $47.90 per share. Since February 15 through March 12 the stock has gained about 0.7%. As of the end of the fourth quarter of 2023, 48 hedge funds tracked by Insider Monkey had stakes in the California-based computer software company. The most notable stake in Alteryx Inc (NYSE:AYX) is owned by Josh Resnick’s Jericho Capital Asset Management which owns a $123 million stake in the computer software company Alteryx Inc (NYSE:AYX).
George Soros’ fund owns CALL options on 453,400 shares of Alteryx Inc (NYSE:AYX) as of the end of the fourth quarter of 2023.
2. Nike Inc (NYSE:NKE)
Soros Fund Management’s Stake: $25,700,690
Nike Inc (NYSE:NKE) ranks second in our list of the stocks George Soros and corporate insiders are buying. As of the end of the fourth quarter of 2023, George Soros’ fund had a $26 million stake in Nike Inc (NYSE:NKE). Bob Swan, a director at Nike Inc’s (NYSE:NKE) board, bought 13,072 shares of Nike Inc (NYSE:NKE) on October 2 at $96.13 per share. On that day the stock was trading at around $94.56. Nike Inc’s (NYSE:NKE) stock price has jumped about 6% since then.
Amalthea Fund stated the following regarding NIKE, Inc. (NYSE:NKE) in its fourth quarter 2023 investor letter:
“NIKE, Inc. (NYSE:NKE) of change of strategy: Fast forward a few years and Nike has had a change of strategy that was an Exocet to shoe industry retailers. Nike (who do not sell on Amazon) decided (accurately) that they had the hot product and wanted to drive sales through their own (mostly online) channels. They wanted to capture the retail margin.
Nike used to have 30,000 wholesale arrangements (retailers who sold their product). They cut this number sharply, down to 3000 and told people they were going to 1800. Small shoe retailers lost their core brand. Many failed…” (Click here to read the full text)
1. Marriott Vacations Worldwide Corp (NYSE:VAC)
Soros Fund Management’s Stake (CALL): $35,980,918
John E. Geller Jr., the CEO of Marriott Vacations Worldwide Corp (NYSE:VAC), loaded up on 5,000 shares of Marriott Vacations Worldwide Corp (NYSE:VAC) at $112.84 per share on August 7. On that day the stock closed trading at around $112.47. Since then stock has lost about 15% in value as of March 12.
George Soros’s hedge fund owns CALL options on 250,000 Marriott Vacations Worldwide Corp (NYSE:VAC) shares, as of the end of 2023.
Baron Focused Growth Fund stated the following regarding Marriott Vacations Worldwide Corporation (NYSE:VAC) in its fourth quarter 2023 investor letter:
“Shares of timeshare company Marriott Vacations Worldwide Corporation (NYSE:VAC) fell in the quarter, driven by soft sales of timeshare units due to higher interest rates and the slow ramp of a new product offering. A default rate that was higher than the company had anticipated forced it to take a charge to increase its reserves, pressuring earnings and cash flow. We opted to exit our position due to the increased stress on its consumer base and a resulting increase in financial leverage, which we found inappropriate for a focused fund.”
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