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Insight into Soros Fund Management’s Latest Strategic Moves
George Soros (Trades, Portfolio), the renowned financier and chair of Soros Fund Management LLC, has made significant adjustments to his investment portfolio in the second quarter of 2024. Born in Budapest in 1930, Soros is known for his theory of “reflexivity” in financial markets, which suggests that market participants’ biases can influence market prices. His investment decisions are closely watched due to his historical success, including his famous bet against the British Pound in 1992. Soros Fund Management, originally a hedge fund, was converted into a family office in 2011, focusing on managing the Soros family’s wealth.
Summary of New Buys
During the second quarter, Soros Fund Management welcomed 47 new stocks to its portfolio. Noteworthy additions include:
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The S&P 500 ETF TRUST ETF (SPY) with 450,000 shares, making up 5.6% of the portfolio and valued at $244.9 million.
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ChampionX Corp (NASDAQ:CHX), holding 2,464,910 shares, which represent 1.87% of the portfolio, totaling $81.86 million.
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Alibaba Group Holding Ltd (NYSE:BABA) with 1,025,000 shares, accounting for 1.69% of the portfolio, valued at $73.8 million.
Key Position Increases
Soros also significantly increased his stakes in several companies:
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AstraZeneca PLC (NASDAQ:AZN) saw an addition of 2,051,538 shares, bringing the total to 2,451,538 shares. This represents a 512.88% increase in shares, impacting the portfolio by 3.66%, with a total value of $191.2 million.
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WestRock Co (WRK) with an additional 2,442,952 shares, bringing the total to 3,342,953 shares. This adjustment represents a 271.44% increase in shares, valued at $168.02 million.
Summary of Sold Out Positions
George Soros (Trades, Portfolio) exited 46 positions in this quarter, including:
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American Equity Investment Life Holding Co (AEL), where all 1,919,302 shares were sold, impacting the portfolio by -2.53%.
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Aramark (NYSE:ARMK), with all 2,059,000 shares liquidated, causing a -1.57% impact on the portfolio.
Key Position Reductions
Reductions were also notable in Soros’s portfolio adjustments:
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Alphabet Inc (NASDAQ:GOOGL) was reduced by 575,657 shares, a -38.62% decrease, impacting the portfolio by -2.04%. The stock traded at an average price of $168.57 during the quarter.
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Novo Nordisk A/S (NYSE:NVO) saw a reduction of 622,616 shares, a -78.06% decrease, impacting the portfolio by -1.87%. The stock traded at an average price of $132.51 during the quarter.
Portfolio Overview
As of the second quarter of 2024, Soros’s portfolio included 155 stocks. The top holdings were 5.6% in S&P 500 ETF TRUST ETF (SPY), 4.37% in AstraZeneca PLC (NASDAQ:AZN), and 3.84% in WestRock Co (WRK). The investments span across 10 of the 11 major industries, with significant concentrations in Healthcare, Consumer Cyclical, and Industrials.
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.
This article first appeared on GuruFocus.