Insight into Soros Fund Management's Latest Strategic Moves and Market Impact
Born in Budapest in 1930, George Soros (Trades, Portfolio) is the chair of Soros Fund Management LLC and a towering figure in the world of finance. Soros, who founded the Quantum Group of Funds hedge fund in 1973, is renowned for his theory of "reflexivity" in financial markets, which suggests that market participants' biases can influence market prices and broader economic conditions. His investment decisions are closely watched due to his historical success, including his famous bet against the British Pound in 1992. Soros converted his hedge fund into a family office in 2011, continuing to advise on big financial moves and strategies.
Summary of New Buys
George Soros (Trades, Portfolio) strategically expanded his portfolio by adding 68 new stocks in the first quarter of 2024. Notable new acquisitions include:
- Cerevel Therapeutics Holdings Inc (CERE, Financial), purchasing 1,940,201 shares, making up 1.92% of the portfolio, valued at $82.01 million.
- Okta Inc (OKTA, Financial), with 426,326 shares, representing 1.04% of the portfolio, valued at approximately $44.60 million.
- WestRock Co (WRK, Financial), adding 900,001 shares, also accounting for 1.04% of the portfolio, with a total value of $44.51 million.
Key Position Increases
During the same period, Soros also increased his stakes in 23 existing holdings, with significant boosts to:
- Aramark (ARMK, Financial), where he added 1,540,760 shares, increasing his total to 2,059,000 shares. This adjustment marks a 297.31% increase in share count, impacting 1.17% of the current portfolio, valued at $66.96 million.
- Alphabet Inc (GOOGL, Financial), with an additional 271,519 shares, bringing the total to 1,490,599 shares, valued at $224.98 million.
Summary of Sold Out Positions
Significant exits were made from 50 positions, including:
- iShares Russell 2000 ETF (IWM, Financial), where Soros sold all 1,198,023 shares, impacting the portfolio by -4.68%.
- Splunk Inc (SPLK, Financial), with all 1,580,001 shares liquidated, also resulting in a -4.68% portfolio impact.
Key Position Reductions
Reductions were made in 27 stocks, notably:
- Novo Nordisk A/S (NVO, Financial), reduced by 757,214 shares, a -48.7% decrease, impacting the portfolio by -1.52%. The stock traded at an average price of $119.04 during the quarter and has seen a return of 11.45% over the past three months and 31.17% year-to-date.
- CRH PLC (CRH, Financial), reduced by 664,329 shares, a -45.63% decrease, impacting the portfolio by -0.89%. The stock traded at an average price of $76.44 during the quarter and has returned 12.99% over the past three months and 24.42% year-to-date.
Portfolio Overview
As of the first quarter of 2024, George Soros (Trades, Portfolio)'s portfolio included 165 stocks. The top holdings were:
- 5.27% in Alphabet Inc (GOOGL, Financial)
- 4% in AerCap Holdings NV (AER, Financial)
- 2.53% in American Equity Investment Life Holding Co (AEL, Financial)
- 2.4% in Novo Nordisk A/S (NVO, Financial)
- 1.92% in Cerevel Therapeutics Holdings Inc (CERE, Financial)
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
