- Posted By : Ezra Smith |
- Category : Finance |
- Feb 17, 2023 |
- Estimated read time: 08 Min
Billionaire George Soros’ is one of the most successful investors in history. His Soros Fund Management currently manages $8.4 billion in assets, and Soros himself has an estimated net worth of $6.7 billion after donating more than $30 billion to philanthropic causes.
Soros formerly managed the Quantum Fund, which generated an average annual return of 30% over a 30-year period from 1970 to 2000. Soros also famously made a $1 billion profit in a single day in 1992 by short-selling the British pound.
Here are seven of the Soros Fund’s top stock holdings, according to its latest 13F filings
Billionaire George Soros’ Horizon Therapeutics PLC (HZNP)
Portfolio weight: 4.5%
Horizon Therapeutics is a commercial-stage specialty pharmaceutical company. In December, Horizon shares jumped on news that Amgen Inc. (AMGN) plans to acquire Horizon in a $27.8 billion deal at a price of $116.50 per share. Horizon’s shareholders must vote to approve the deal, and global regulators must greenlight the merger. The market doesn’t see the buyout as a done deal just yet, given Horizon shares are trading at only about $110 per share. Billionaire George Soros apparently disagrees. Billionaire George Soros Fund Management bought more than 2.8 million shares of HZNP in the fourth quarter, worth about $325.3 million.
Raw HTML : Tradingview – HZNP
Rivian Automotive Inc. (RIVN)
Portfolio weight: 3.7%
Rivian Automotive is an electric vehicle startup that went public in November 2021 and began delivering its first R1T electric pickup trucks in late 2021. Billionaire George Soros immediately took a big stake in Rivian, buying 19.8 million shares and making it his largest holding during Rivian’s first quarter on the public market. Even after selling more than 5 million shares since that time, including more than 2 million shares in the fourth quarter, Soros’ remaining Rivian stake is still worth roughly $264 million. Unfortunately, Rivian shares are now trading more than 70% below their $78 initial public offering price.
Raw HTML : TradingView – RIVN
First Horizon Corp. (FHN)
First Horizon is a U.S. regional bank focused in Tennessee with an additional footprint in the Carolinas and Florida. First Horizon is a brand-new position for Billionaire George Soros. The Soros Fund purchased more than 8.5 million shares of FHN stock in the fourth quarter of 2022 worth about $209.1 million, making the stock the fund’s third-largest stock holding. Rising interest rates typically increase banks’ net interest margins, but only if the U.S. economy can avoid a recession. First Horizon may be Soros’ bet on a soft landing for the U.S. economy in 2023.
Raw HTML : TradingView – FHN
Alphabet Inc. (GOOG, GOOGL)
Portfolio weight: 2.1%
Google and YouTube’s parent company Alphabet may not be the high-growth stock it once was, but it is extremely profitable and reasonably valued at forward earnings multiple of just 15.4. Soros first invested in Alphabet back in the first quarter of 2017. Since that time, the stock has more than doubled in value and outpaced the S&P 500 by about 50%. Soros took advantage of Alphabet’s weakness in the fourth quarter and scooped up another 743,160 shares of GOOGL stock Billionaire George Soros. The Soros Fund now holds more than 1.75 million Alphabet shares, worth about $155 million.
Raw HTML : TradingView – GOOGL
Aramark (ARMK )
Portfolio weight: 1.9%
Aramark provides food, facilities, and uniform services to hospitals, schools, stadiums, and other businesses. The food services industry was crushed during the pandemic, and Aramark’s revenue dropped more than 20% in 2020. Unfortunately, Soros first invested in Aramark in the first quarter of 2020. Even though the food services industry has recovered significantly and Aramark reported 17% revenue growth in the fourth quarter, ARMK Billionaire George Soros’ shares still have not recovered to pre-pandemic highs. Soros cut his Aramark position in the fourth quarter, selling 270,131 shares and bringing his total stake down to 3.39 million shares worth about $140 million.
Raw HTML : TradingView – ARMK
Altra Industrial Motion Corp. (AIMC)
Portfolio weight: 1.7%
Altra Industrial Motion designs and produces electromechanical power transmission motion controls. In October, the company announced a $4.95 billion buyout by Regal Rexnord Corp. (RRX). Soros took a 2-million-share stake in Altra Industrial in the fourth quarter valued at $119.5 million, presumably as a risk arbitrage play on the buyout news. Both Billionaire George Soros and the market seem confident the deal will not fall through. The buyout announcement sent AIMC shares soaring nearly 50% back in October. Unfortunately, there appears to be little upside left for Altra investors at the current share price of around $61.50.
Raw HTML: TradingView – AIMC
Bowlero Corp. (BOWL)
Portfolio weight: 1.5%
Bowlero owns and operates bowling centers. Bowlero went public via a merger with a special-purpose acquisition company, or SPAC, in 2021. Soros was an early investor, and the stock has held up relatively well since its merger compared to other high-profile SPACs. In January, Bowlero said it reached a record $1 billion in trailing-12-month revenue for the first time. In the fourth quarter, Soros sold 645,697 shares of BOWL stock, reducing his position by about 7%. However, Soros Fund Management still holds more than 8.1 million shares of Bowlero worth about $109.9 million.
Read Also- 6 ways you can easily resolve the QuickBooks not opening error
Ezra Smith is a subject matter specialist @borntechy.com Being a prolific content expert with a significant amount of experience, his writings on top directory categories in the United States are getting recognition among customers across the Globe. In addition to being a well-known writer, Ezra has expertise in SEO and SMO strategies.