George Soros’ Top 10 Stock Picks

Published on June 15, 2023 at 6:58 pm by Swati Goyal in Business, Hedge Funds, News

In this article, we will discuss George Soros’ top 10 stock picks. If you want to skip our detailed analysis of Soros’ history, investment philosophy, and hedge fund performance, go directly to George Soros’ Top 5 Stock Picks.

George Soros, 92, maintains a net worth of approximately $8.5 billion, ranking as the 236th wealthiest individual worldwide, according to Bloomberg. Soros, a well-known financier and philanthropist, has gained recognition for his distinctive investment strategies and global impact. In 2011, Soros transformed his Soros Fund Management into a family office, closing it to external investors. With approximately $28 billion in assets under management, the family office oversees Soros’ personal wealth and the substantial endowments dedicated to his philanthropic initiatives.

George Soros of Soros Fund Management

Soros applied scientific and free market principles to his investment strategies, starting with his work at F.M. Mayer and establishing the Quantum Fund. Over time, he grew his initial investment of $12 million into a remarkable $20 billion by the early 2000s. His investment philosophy includes principles such as reflexivity theory, gradually increasing investment positions based on market trends, paying attention to physical cues, blending political acumen, and seeking diverse perspectives before making significant decisions.

In the first quarter of 2023, George Soros’ Soros Fund Management portfolio value decreased from $7.26 billion to $6.49 billion. In addition, the hedge fund made new purchases of 66 stocks, added to holdings of 31 stocks, sold out 89 stocks, and reduced holdings in 54 stocks. The finance sector accounted for most of Soros Fund Management’s portfolio, comprising 35.81% of the total holdings. The top three stocks represent about 28.30% of the portfolio. Some of the notable stocks held by the hedge fund in Q1 2023 included Salesforce, Inc. (NYSE:CRM), QUALCOMM Incorporated (NASDAQ:QCOM), and Netflix, Inc. (NASDAQ:NFLX).

Our Methodology

By examining Soros Fund Management’s 13F filings for the first quarter of 2023, we identified George Soros’ top 10 holdings.

10. The Estée Lauder Companies Inc. (NYSE:EL)

Soros Fund Management’s Holdings: $39,211,047

Percentage of Soros Fund Management’s Portfolio: 0.6%

The Estée Lauder Companies Inc. (NYSE:EL) operates globally, engaging in the manufacturing, marketing, and sales of skincare, makeup, fragrance, and hair care products. George Soros stock portfolio held 159,097 shares of The Estée Lauder Companies Inc. (NYSE:EL) in the first quarter of 2023, worth $39.21 million and representing 0.6% of the total 13F securities.

On May 4, RBC Capital analyst Nik Modi reduced the price target on The Estée Lauder Companies Inc. (NYSE:EL) to $265 from $290 while maintaining an ‘Outperform’ rating on the shares.

In its Q4 2022 investor letter, ClearBridge All Cap Growth Strategy provided the following insight regarding The Estée Lauder Companies Inc. (NYSE:EL):

“The Estée Lauder Companies Inc. (NYSE:EL), which manufactures and markets cosmetics, fragrances, skin and hair care products across a number of well-known global brands including Clinique, MAC and Bobbi Brown, adds to our group of secular growers. Estee Lauder is a global leader in the prestige beauty space, which has outgrown the broader home and personal care category since 2010 and has historically been recession resilient. The company has substantial brand and pricing power and is overindexed to the highly profitable prestige skin care category. We believe the company’s most recent earnings report and 2023 guidance update, which was cut significantly due to uncertainty over China’s zero-COVID policy (China and travel retail are key growth drivers), provided an attractive entry point. At this point, we believe the stock has been significantly derisked and could see potential upside from a China recovery.”

9. Aramark (NYSE:ARMK)

Soros Fund Management’s Holdings: $43,845,155

Percentage of Soros Fund Management’s Portfolio: 0.67%

Aramark (NYSE:ARMK) serves a wide range of clients, including those in education, healthcare, business and industry, sports, leisure, and corrections, offering food, facilities, and uniform services both within the United States and internationally. On April 19, Bernstein initiated coverage of Aramark (NYSE:ARMK), assigning it a ‘Market Perform’ rating and a price target of $38.

According to the 13F filings for the first quarter of 2023, the George Soros stock portfolio had 1.22 million shares of Aramark (NYSE:ARMK), worth $43.85 million and representing 0.67% of the total holdings.

8. American Water Works Company, Inc. (NYSE:AWK)

Soros Fund Management’s Holdings: $46,349,436

Percentage of Soros Fund Management’s Portfolio: 0.71%

American Water Works Company, Inc. (NYSE:AWK) and its subsidiaries provide water and wastewater services to 1,600 communities across 14 states in the United States, serving around 3.4 million active customers. Julien Dumoulin-Smith, an analyst at BofA, increased the firm’s price target on American Water Works Company, Inc. (NYSE:AWK) from $134 to $140 on April 24. However, Dumoulin-Smith maintained an ‘Underperform’ rating on the company’s shares.

Securities filings for the first quarter of 2023 reveal that George Soros’ fund added American Water Works Company, Inc. (NYSE:AWK) to its portfolio by purchasing 316,400 shares worth $46.35 million, representing 0.71% of the total securities.

ClearBridge Investments made the following comment about American Water Works Company, Inc. (NYSE:AWK) in its Q4 2022 investor letter:

“Turning to the U.S. and Canada, U.S. electric utility PG&E and U.S. water company American Water Works Company, Inc. (NYSE:AWK) also made strong contributions. AWK provides water and wastewater utility services to customers across several states within the U.S. Shares did well after AWK announced the acquisition of a municipal facility, providing additional opportunities for growth.”

7. Bowlero Corp. (NYSE:BOWL)

Soros Fund Management’s Holdings: $50,850,000

Percentage of Soros Fund Management’s Portfolio: 0.78%

Bowlero Corp. (NYSE:BOWL) holds the top position globally in bowling entertainment, operating over 325 bowling centers throughout North America. Serving nearly 30 million guests annually, Bowlero Corp. encompasses well-known brands like Bowlero and AMF. On April 19, Jefferies analyst Randal Konik initiated coverage of Bowlero Corp. (NYSE:BOWL), assigning it a ‘Buy’ rating and setting a price target of $23.

In Q1 2023, the hedge fund reduced its stake in Bowlero Corp. (NYSE:BOWL) by 64%, holding 3 million shares worth approximately $50.85 million, representing 0.78% of the total 13F securities.

6. Rivian Automotive, Inc. (NASDAQ:RIVN)

Soros Fund Management’s Holdings: $55,404,422

Percentage of Soros Fund Management’s Portfolio: 0.85%

Rivian Automotive, Inc. (NASDAQ:RIVN) designs, manufactures, and sells electric vehicles. On May 10, DA Davidson analyst Michael Shlisky lowered the price target on Rivian Automotive, Inc. (NASDAQ:RIVN) to $11 from $16 and maintained an ‘Underperform’ rating. Q1 revenue and EBITDA exceeded expectations, but Rivian faces challenge in reducing costs and maintaining supplier relationships, according to the analyst’s note.

Even after selling more than 10.76 million shares of Rivian Automotive, Inc. (NASDAQ:RIVN) stock in the first quarter, Soros Fund Management is the company’s leading shareholder. George Soros’ Soros Fund Management still holds more than 3.58 million shares of Rivian Automotive, Inc. (NASDAQ:RIVN), worth about $55.40 million.

Rivian Automotive, Inc. (NASDAQ:RIVN) is among the notable stocks in George Soros’ portfolio, along with Salesforce, Inc. (NYSE:CRM), QUALCOMM Incorporated (NASDAQ:QCOM), and Netflix, Inc. (NASDAQ:NFLX).

In its Q1 2023 investor letter, Baron Funds shared the following observation regarding Rivian Automotive, Inc. (NASDAQ:RIVN):

“Shares of Rivian Automotive, Inc. (NASDAQ:RIVN), a U.S.-based EV manufacturer, fell during the quarter. Despite seven-fold growth in its monthly production rate between late 2021 and the end of 2022, production guidance for 2023 missed analyst forecasts because of supply-chain constraints, principally semiconductors. Moreover, notwithstanding an attractive long-term opportunity and favorable product reviews by customers and industry experts, investors remain concerned about liquidity risks as the company burns cash during its early production stage while unit economics remain challenged. Vehicle sales through the end of 2023 will be at Rivian’s legacy vehicle pricing, which was set before inflationary and supply-chain pressures emerged last year across the entire automotive space. New pricing and improved unit economics should be realized in 2024, and Rivian is slated to launch its R2 vehicle line in 2026. We have adjusted Rivian to a smaller position in our portfolio. Despite near-term macro and execution risks, we do believe that Rivian’s current valuation offers attractive long-term returns. During the year, we will remain focused on Rivian’s production ramp, vehicle demand, unit-level economics, and cost controls as well as progress on its R2 vehicle platform, its next-gen Enduro electric motor, and its battery system advancements.”

Click to continue reading and see George Soros’ 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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