George Soros Stock Portfolio: Top 10 Stock Picks

Published on November 8, 2022 at 11:52 am by Hamna Asim in Hedge Funds, News

In this article, we discuss the top 10 stock picks of billionaire George Soros. If you want to see more stocks in this selection, check out George Soros Stock Portfolio: Top 5 Stock Picks.

George Soros is a Hungarian-American billionaire and businessman who launched Soros Fund Management in 1970. Soros Fund Management, which is now a family office, was created as a hedge fund in New York for managing money for clients. George Soros has a Q2 stock portfolio worth $5.6 billion, compared to $6.6 billion in the prior quarter. Soros’ investment philosophy consists of watching the currency swings and commodity prices closely, in addition relying on macro and market analysis. He is also involved heavily in American politics.

The 13F filings for the second quarter of 2022 reveal that Soros Fund Management acquired 49 new stocks, made additional purchases in 43 stocks, sold out of 51 securities, and reduced holdings in 18 equities. The fund’s investments are concentrated in the real estate, communications, finance, healthcare, consumer discretionary, and information technology sectors. Some of the top stock picks of George Soros include Rivian Automotive, Inc. (NASDAQ:RIVN), Amazon.com, Inc. (NASDAQ:AMZN), and D.R. Horton, Inc. (NYSE:DHI).

Our Methodology

We selected the top 10 stock picks from George Soros’ stock portfolio as of the end of the second quarter of 2022 for this analysis. Insider Monkey’s database of 895 elite hedge funds tracked as of the end of the second quarter of 2022 was used to assess the hedge fund sentiment around the securities.

George Soros of Soros Fund Management

George Soros Stock Portfolio: Top Stock Picks

10. Bowlero Corp. (NYSE:BOWL)

Number of Hedge Fund Holders: 18

Soros Fund Management’s Stake Value: $102,443,000

Bowlero Corp. (NYSE:BOWL) is a Virginia-based company that operates bowling entertainment centers under the AMF, Bowlmor Lanes, and Bowlero brand names. In Q2 2022, George Soros’ fund owned 9.6 million shares of Bowlero Corp. (NYSE:BOWL) worth $102.4 million, representing 1.82% of the total 13F securities. The hedge fund boosted its stake in Bowlero Corp. (NYSE:BOWL) by 3% in the June quarter.

On October 27, Bowlero Corp. (NYSE:BOWL) announced that it has bought two additional bowling centers in California and Iowa, bringing its total to 17 this year. For FY 2023, the company entered into nine definitive agreements, and concluded seven acquisitions.

Oppenheimer analyst Ian Zaffino initiated coverage of Bowlero Corp. (NYSE:BOWL) with an Outperform rating and a $16 price target. Bowlero Corp. (NYSE:BOWL), the biggest operator of bowling centers in North America, it is about seven times larger than the number two player, and “represents an interesting investment opportunity,” the analyst said. The rest of the industry is very fragmented and Bowlero Corp. (NYSE:BOWL)’s emphasis on “bowling first”, its diverse and sophisticated customer base, and proprietary operating system give it market-leading margins, the analyst added.

According to Insider Monkey’s data, 18 hedge funds were bullish on Bowlero Corp. (NYSE:BOWL) at the end of June 2022, compared to 23 funds in the prior quarter.

In addition to Rivian Automotive, Inc. (NASDAQ:RIVN), Amazon.com, Inc. (NASDAQ:AMZN), and D.R. Horton, Inc. (NYSE:DHI), Bowlero Corp. (NYSE:BOWL) is one of the top stock picks from the George Soros stock portfolio.

9. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 116

Soros Fund Management’s Stake Value: $103,564,000

Salesforce, Inc. (NYSE:CRM) is a California-based company offering customer relationship management technology to companies and individuals worldwide. Soros Fund Management boosted its Salesforce, Inc. (NYSE:CRM) stake by 139% in Q2 2022, holding 627,509 shares worth $103.5 million. Salesforce, Inc. (NYSE:CRM) is one of the top stock picks from the George Soros stock portfolio.

On November 2, Macquarie analyst Sarah Hindlian-Bowler took over coverage of Salesforce, Inc. (NYSE:CRM) with an Outperform rating and a $210 price target. The analyst believes the shares are undervalued and expects Salesforce, Inc. (NYSE:CRM) to end its multiple contraction with growth and margins supported by its Cloud Suite.

According to Insider Monkey’s data, 116 hedge funds were long Salesforce, Inc. (NYSE:CRM) at the end of June 2022, compared to 114 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is the largest stakeholder of the company, with 15.6 million shares worth $2.6 billion.

Vulcan Value Partners made the following comment about Salesforce, Inc. (NYSE:CRM) in its Q3 2022 investor letter:

“Salesforce, Inc. (NYSE:CRM) is a leading customer relationship management (CRM) platform with a broad suite of products that help its customers with sales, service, marketing, and analytics. Salesforce has steadily gained market share within its addressable market, that itself is growing 13% per year. Salesforce has used both organic innovation and selective M&A to expand its menu of products. This has improved penetration as customers increase the number of products, or clouds, they buy from Salesforce. As a customer moves from one Salesforce cloud to two clouds, annual recurring revenue (ARR) increases 3X on average. With 3 clouds, ARR is 9X higher vs. 1 cloud, and we believe this exponential growth dynamic will increase with each successive cloud. In addition to generating recurring revenue for Salesforce, each incremental cloud helps Salesforce increase its position within the daily operations of its customers, making its products stickier. Long term, we believe these secular trends will continue, and that Salesforce will continue to gain market share, expand margins, and innovate to address the needs of its customers.”

8. Aramark (NYSE:ARMK)

Number of Hedge Fund Holders: 27

Soros Fund Management’s Stake Value: $110,770,000

Aramark (NYSE:ARMK) is a Pennsylvania-based company that offers food, facilities, and uniform services to education, healthcare, business, sports, leisure, and corrections clients in the United States and internationally. Securities filings for Q2 2022 reveal that George Soros had 3.6 million shares of Aramark (NYSE:ARMK) worth $110.7 million, representing 1.97% of the total 13F portfolio.

On November 8, Aramark (NYSE:ARMK) declared a quarterly dividend of $0.11 per share, in line with previous. The dividend is payable on December 5, to shareholders of the company as of November 22. The dividend yield on November 8 came in at 1.24%.

Jefferies analyst Stephanie Moore assumed coverage of Aramark (NYSE:ARMK) on October 25 with a Hold rating and a price target of $36, down from $40. The analyst believes Aramark (NYSE:ARMK)’s turnaround strategy is seeing positive results, but her Hold rating is due to valuation and a view that the uniform business spin is not a short-term catalyst as its expected timing is during spring/summer 2023.

According to Insider Monkey’s Q2 data, 27 hedge funds were bullish on Aramark (NYSE:ARMK), compared to 25 funds in the prior quarter. Thomas Steyer’s Farallon Capital is the leading position holder in the company, with 16 million shares worth $490.3 million.

7. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 153

Soros Fund Management’s Stake Value: $115,882,000

Alphabet Inc. (NASDAQ:GOOG) has been part of the George Soros stock portfolio since the last quarter of 2015, with minor breaks over the years. In the second quarter of 2022, Soros held 1.06 million shares of Alphabet Inc. (NASDAQ:GOOG) worth $115.8 million, representing 2.06% of the total holdings.

On October 27, Alphabet Inc. (NASDAQ:GOOG) announced that it had acquired AI avatar startup Alter for about $100 million. Alter helps creators and brands develop and express their virtual identity. The AI startup will enable Alphabet Inc. (NASDAQ:GOOG) to improve and advance its content offerings.

Oppenheimer analyst Jason Helfstein on October 26 maintained an Outperform rating on Alphabet Inc. (NASDAQ:GOOG) but trimmed the price target on the shares to $135 from $155 to reflect lower 2023 estimates on softer first half of the year and slower headcount growth.

According to Insider Monkey’s data, 153 hedge funds were bullish on Alphabet Inc. (NASDAQ:GOOG) at the end of Q2 2022, compared to 160 funds in the earlier quarter. Chris Hohn’s TCI Fund Management is a prominent position holder in the company, with 2.5 million shares worth $5.4 billion.

FPA made the following comment about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2022 investor letter:

“The share prices of both Meta and Alphabet Inc. (NASDAQ:GOOG) have declined significantly over the past twelve months. We believe this is due to a combination of a weakening ad market, depreciation of foreign currencies, and increased competitive intensity. On the positive side, we anticipate each company to continue to generate significant amounts of free cash flow even during these challenging times, which we expect to be redeployed into a combination of growth projects and share buybacks.”

6. Biohaven Ltd. (NYSE:BHVN)

Number of Hedge Fund Holders: 58

Soros Fund Management’s Stake Value: $182,866,000

Biohaven Ltd. (NYSE:BHVN) is a Connecticut-based clinical-stage biopharmaceutical company, focused on discovering and developing therapies for neurological and neuropsychiatric diseases in the United States. Biohaven Ltd. (NYSE:BHVN) was a new addition to the George Soros stock portfolio in Q2 2022, with the hedge fund buying 1.25 million shares worth $182.8 million, representing 3.25% of the total 13F securities.

On October 21, Biohaven Ltd. (NYSE:BHVN) priced an upsized public offering of 25 million of its common shares, at a public offering price of $10.50 per common share. The offering closed on October 25, and the company expects to use the net proceeds received for general corporate purposes.

Cowen analyst Ken Cacciatore on November 7 maintained an Outperform rating on Biohaven Ltd. (NYSE:BHVN) but slashed the firm’s price target on the shares to $25 from $165 following its spin off. The analyst said the target is based mainly on BHV-7000 in epilepsy, but there is a potential for upside via the emerging pipeline.

According to Insider Monkey’s Q2 data, 58 hedge funds were long Biohaven Ltd. (NYSE:BHVN), compared to 41 funds in the preceding quarter. Phill Gross and Robert Atchinson’s Adage Capital Management is the largest stakeholder of the company, with more than 3 million shares worth $442.8 million.

Like Rivian Automotive, Inc. (NASDAQ:RIVN), Amazon.com, Inc. (NASDAQ:AMZN), and D.R. Horton, Inc. (NYSE:DHI), Biohaven Ltd. (NYSE:BHVN) is one of the top stock picks of George Soros.

Here is what Baron Health Care Fund has to say about Biohaven Ltd. (NYSE:BHVN) in their Q1 2021 investor letter:

“Biohaven Pharmaceutical Holding Company Ltd. is a biotechnology company dedicated to neurologic drug discovery. It launched its lead asset, migraine medication Nurtec, last year, and the company is transitioning towards profitability. Shares declined when Biohaven issued a secondary offering in March that took investors by surprise and seemed early in relation to an expected second indication for Nurtec in the prophylactic prevention of migraine, which expands its market. We exited our position.”

Click to continue reading and see George Soros Stock Portfolio: Top 5 Stock Picks.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on December 13, 2024 at by Inan Dogan, PhD

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China’s terrifying internet “Master Key”… and the one microcap that could stop them

Published on December 18, 2024 at by Insider Monkey Staff

In August 2024, news outlets around the world revealed one of the most shocking data breaches in recent history.

Approximately 2.9 billion records, including names, email addresses, phone numbers, mailing addresses, financial data and, distressingly, Social Security numbers, were stolen when Coral Springs, Florida, firm National Public Data (NPD) suffered a massive cyberattack. The company confirmed that the breach, which happened in December 2023, resulted in the potential leaks of data in the summer of 2024.

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If they succeed in harnessing this groundbreaking “Master Key” technology, the consequences could be catastrophic.

Click to continue reading…

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