George Soros is one of the most successful investors in history. His Soros Fund Management currently manages about $6.4 billion in assets, and Soros himself has an estimated net worth of $6.7 billion after donating more than $32 billion to various 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:
|Horizon Therapeutics PLC (ticker: HZNP)||5.3%|
|Alphabet Inc. (GOOGL)||2.7%|
|Liberty Broadband Corp. (LBRDK)||1.7%|
|Amazon.com Inc. (AMZN)||1.6%|
|Rivian Automotive Inc. (RIVN)||1.1%|
|AerCap Holdings NV (AER)||0.8%|
Horizon Therapeutics PLC (HZNP)
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. However, the Federal Trade Commission sued to block the deal in May 2023. The market doesn’t see the buyout as a done deal given Horizon shares closed at only $104.01 per share on Aug. 14. Soros apparently disagrees. Soros Fund Management owns about 3.3 million shares of HZNP worth about $338.5 million, making it the fund’s largest stock holding.
Portfolio weight: 5.3%
Alphabet Inc. (GOOGL)
Google and YouTube parent company Alphabet may not be the high-growth stock it once was, but it is extremely profitable and reasonably valued at a forward earnings multiple of just 19.5. Soros first invested in Alphabet in the first quarter of 2017. Since that time, the stock has more than tripled in value and more than doubled the return of the S&P 500. Soros is still adding to his stake, scooping up another 5,000 shares of GOOGL in the second quarter of 2023. The Soros Fund now holds about 1.42 million Alphabet Class A shares worth about $170.5 million.
Portfolio weight: 2.7%
Liberty Broadband Corp. (LBRDK)
Liberty Broadband is a cable, broadband and mobile technology company and is the parent of Charter Communications. Soros first invested in Liberty Broadband in the second quarter of 2016, and he paid an average estimated price of $57.45. The stock hasn’t exactly been a home run for Soros, but he has turned a sizable profit with shares closing at $92.59 on Aug. 14. His fund owns about 1.4 million shares of Liberty Broadband worth about $111.3 million, representing a roughly 0.8% stake in the company. Soros made no adjustment to his position in the second quarter.
Portfolio weight: 1.7%
Amazon.com Inc. (AMZN)
Over the past three years, e-commerce and cloud services giant Amazon hasn’t delivered the type of returns long-term investors have come to expect. In fact, Amazon’s stock price is down 13.7% since the beginning of 2021 as the company has dealt with slowing growth. Soros has only held Amazon shares since the fourth quarter of 2020. In the second quarter of this year, Soros Fund Management bought 62,500 shares of AMZN stock, boosting its stake by about 8%. As of the end of the quarter, Soros now holds about 769,000 shares of Amazon worth about $100.3 million.
Portfolio weight: 1.6%
Rivian Automotive Inc. (RIVN)
Rivian Automotive is an electric vehicle startup that went public in November 2021 and began delivering its first pickup trucks around the same time. Soros immediately took a big stake, buying 19.8 million shares and making Rivian his largest holding during its first quarter on the public market. Even after selling more than 15 million shares since that time, Soros’ remaining Rivian stake is still worth about $69.8 million. Soros boosted his Rivian stake by about 608,000 shares in the second quarter. Unfortunately, Rivian shares now trade at about 72% below their $78 initial public offering price.
Portfolio weight: 1.1%
AerCap Holdings NV (AER)
AerCap leases aircraft to airlines around the world. AerCap was a brand-new position for Soros in the first quarter of 2023, and the billionaire investor added more than 305,000 shares of AER stock in the second quarter. Soros’ fund now holds about 841,000 shares of AerCap stock worth about $53.4 million. AerCap may be Soros’ bet on a continuing rebound in global air traffic. The stock is attractively valued, trading at just 6.4 times forward earnings. AerCap also started a new $500 million share buyback program in July that should help support the stock.
Portfolio weight: 0.8%
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 about 21% in 2020. Unfortunately, Soros first invested in Aramark in the first quarter of 2020. The food services industry has recovered significantly and Aramark reported 15% revenue growth in the second quarter of this year, but ARMK shares have still not eclipsed their pre-pandemic highs. Soros made no changes to his Aramark position in the second quarter. His fund holds about 1.2 million shares of ARMK stock worth about $52.7 million.
Portfolio weight: 0.8%
More from U.S. News
Billionaire George Soros’ 7 Top Stock Picks in 2023 originally appeared on usnews.com
Update 08/15/23: This story was previously published at an earlier date and has been updated with new information.