George Soros Stock Portfolio: Top 5 Large-Cap Stock Picks

2. T-Mobile US, Inc. (NASDAQ:TMUS)

Number of Hedge Fund Holders: 96

T-Mobile US, Inc. (NASDAQ:TMUS) is a Washington-based company that provides mobile communications services in the United States, Puerto Rico, and the United States Virgin Islands. The George Soros stock portfolio held 317,556 shares of T-Mobile US, Inc. (NASDAQ:TMUS) in Q2 2022, worth $42.7 million and representing 0.76% of the total securities. Soros Fund Management increased its T-Mobile US, Inc. (NASDAQ:TMUS) stake by 12% in the June quarter. Despite missing market estimates on Q3 financial results, investors are positive on the stock given the subscriber strength and an optimistic outlook.

On October 28, Cowen analyst Paul Gallant raised the price target on T-Mobile US, Inc. (NASDAQ:TMUS) to $201 from $187 and kept an Outperform rating on the shares. The analyst said that the company reported strong Q3 results highlighted by market-leading phone adds, attractive churn upside, upside margins, and raised 2022 guidance. 

According to Insider Monkey’s data, 96 hedge funds were long T-Mobile US, Inc. (NASDAQ:TMUS) at the end of Q2 2022, compared to 91 funds in the earlier quarter. Andreas Halvorsen’s Viking Global is the largest position holder in the company, with 9.17 million shares worth $1.23 billion. 

In its Q4 2021 investor letter, ClearBridge Investments shared its stance on T-Mobile US, Inc. (NASDAQ:TMUS):

“As mentioned, the communication services sector has come under some pressure, and irrational pricing competition has negatively impacted wireless industry growth and profitability of late, weighing on T-Mobile. Faced with these headwinds, and with pressure from other wireless carriers and cable companies that could cause the company to cede share in subscriber growth in 2022, we exited our position in the fourth quarter.”