In this article, we discuss the top 12 stocks in George Soros’ stock portfolio. To skip the details on Soros’ life, investment philosophy, and his fund’s latest bets, go directly to the Top 5 Stocks in George Soros’ Stock Portfolio.
Billionaire George Soros is one of the most famous hedge fund managers in the world, primarily known for shorting $10 billion worth of British pounds on September 16, 1992, a day known as “Black Wednesday.” This trade made Soros $1 billion in profit in a single day as the currency declined against the German mark and US dollar by 15% and 25%, respectively. After this event, he has been known as “the man who broke the Bank of England.”
While Black Wednesday was the event that made George Soros a huge celebrity, it wasn’t his only successful foreign exchange bet. His global macro-investing strategies have made billions for him and his firm. He made $1 billion from Thailand’s financial crisis in 1997, and in 2013, he made big bucks by betting against the Japanese yen.
Like all successful investors, Soros also faced some setbacks in his life. One such example would be his investments in Russian bonds in 1998. When the Russian financial crisis deepened, Russia defaulted on its debt obligations, including its government bonds. His firm lost $2 billion on the investment. However, this loss was just a small hurdle in his career and an insignificant event compared to his overall performance. He has still proven himself as one of the most successful people in the world of finance despite his few failures.
Soros founded Soros Fund Management in 1970, which was formerly a hedge fund and is now a family office since 2011. He retired from all his responsibilities in June 2023 and handed them over to his son. As of February 28, George Soros has a net worth of $6.7 billion, according to Forbes.
Soros is also known as one of the greatest philanthropists. He has donated $32 billion to philanthropic causes. In 1993, he founded Open Society Foundations, which focuses on causes such as justice, education, public health, and independent media.
Investment Philosophy
Soros’s investment strategies combined scientific analysis, such as his application of economic theories like reflexivity, with an understanding of market dynamics and human behavior. This approach allowed him to achieve significant success as an investor. His reflexivity theory suggests that the perceptions and actions of individuals can influence and even distort the reality they perceive. The theory suggests that our beliefs about the world can shape the way the world works. In financial markets, it suggests that investors’ beliefs about the value of assets can affect the actual value of those assets, leading to bubbles or crashes.
In his book, The Alchemy of Finance, Soros said:
George Soros’ reflexivity theory made him a contrarian investor. He is known for his ability to identify undervalued assets and invest in them when others are selling. Between 1970 and 2000, Soros had an average annual returns of 30%, which makes him one of the most successful portfolio managers in the world.
Soros Fund Management Q4 Bets
In the fourth quarter, Soros Fund Management’s 13F portfolio value increased from $7.05 billion to $7.65 billion. The fund made 75 new purchases, including Eli Lilly and Company (NYSE:LLY) and Avantor, Inc. (NYSE:AVTR). The firm increased its holdings in 75 stocks, including a 482% increase in Sempra (NYSE:SRE) and 237% in Neurocrine Biosciences, Inc. (NASDAQ:NBIX). Sempra is also among the stocks in our list of the Best Stocks to Buy Before US Election Season 2024.
In addition, Soros Fund decreased its holdings in 41 stocks and completely closed out 75 positions. Some of the top stocks in George Soros’ stock portfolio include Splunk Inc. (NASDAQ:SPLK), AerCap Holdings N.V. (NYSE:AER), and Alphabet Inc. (NASDAQ:GOOGL).
For this article, we scanned Soros Fund Management’s Q4 2023 portfolio and picked its top 12 stocks. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here).
Accenture plc (NYSE:ACN) is a Dublin-based company engaged in providing management and technology consulting services and solutions.
On February 20, Accenture plc (NYSE:ACN) reported that it is planning to acquire GemSeek. The company would expand its offerings, including customer analytics and AI capabilities through this acquisition.
Accenture plc (NYSE:ACN) is one of the top stocks in George Soros’ stock portfolio, along with Splunk Inc. (NASDAQ:SPLK), AerCap Holdings N.V. (NYSE:AER), and Alphabet Inc. (NASDAQ:GOOGL).
ClearBridge Investments stated the following regarding Accenture plc (NYSE:ACN) in its fourth quarter 2023 investor letter:
11. Uber Technologies, Inc. (NYSE:UBER)
Uber Technologies, Inc. (NYSE:UBER) is a California-based company that provides freight transport, ride-hailing services, food delivery, and more.
On February 20, Uber Technologies, Inc. (NYSE:UBER) announced that Uber Eats is expanding its autonomous operations internationally to Japan by the end of next month. The company, in partnership with Mitsubishi Electric and Cartken, will deliver food through the use of autonomous robots in some parts of Tokyo.
On February 14, Uber Technologies, Inc. (NYSE:UBER) announced its first-ever share repurchase program through which the company will buy back its common stock of up to $7 billion.
Jacobs Solutions Inc. (NYSE:J) is a Texas-based company that offers technical professional services, including but not limited to construction services and scientific and specialty consulting.
On February 15, Jacobs Solutions Inc. (NYSE:J) announced that it was chosen as the lead design consultant by Rua Al Madinah Holding Company for a big urban development project in Saudi Arabia.
On January 25, Jacobs Solutions Inc. (NYSE:J) increased its quarterly dividend by 11.5% to $0.29, payable by March 22 to the shareholders of record on February 23. As of the February 28 market close, the stock’s dividend yield was 0.79%.
Booking Holdings Inc. (NASDAQ:BKNG) is a Connecticut-based company that offers online travel and related services.
On February 22, Booking Holdings Inc. (NASDAQ:BKNG) initiated its quarterly dividend of $8.75, payable by March 28 to the shareholders of record on March 8. The stock’s dividend yield was 1.001% as of the February 28 market close.
In the fourth quarter, Booking Holdings Inc. (NASDAQ:BKNG) reported a non-GAAP EPS of $32.00, which beat the estimates by $1.95. The revenue increased by 18.0% year-over-year (YoY) to $4.78 billion, surpassing the estimates by $70 million.
Ensemble Capital Management stated the following regarding Booking Holdings Inc. (NASDAQ:BKNG) in its fourth quarter 2023 investor letter:
8. Amazon.com, Inc. (NASDAQ:AMZN)
Amazon.com, Inc. (NASDAQ:AMZN) is a Washington-based company that focuses on e-commerce, AI, cloud computing, online advertising, and more. The company grabs the eighth spot on our list of top stocks in George Soros’ stock portfolio.
According to Insider Monkey’s database that tracks 933 elite hedge funds, hedge fund sentiment was positive toward Amazon.com, Inc. (NASDAQ:AMZN) in Q4 as the number of hedge funds with investments in the stock was 293, up from 286 in the previous quarter. Ken Fisher’s Fisher Asset Management was the top investor in the company and owned 42.24 million shares worth $6.42 billion.
On February 26, Amazon.com, Inc. (NASDAQ:AMZN) announced that its cloud computing unit plans on making an investment worth $5 billion in Mexico for cloud infrastructure projects over the next 15 years.
Amazon.com, Inc. (NASDAQ:AMZN) was mentioned in Polen Capital’s fourth-quarter 2023 investor letter. Here is what it said:
7. American Equity Investment Life Holding Company (NYSE:AEL)
American Equity Investment Life Holding Company (NYSE:AEL) is an Iowa-based company that is engaged in developing, marketing, issuing, and administering annuities and life insurance products.
On February 1, American Equity Investment Life Holding Company (NYSE:AEL) declared a quarterly dividend of $0.3718, payable by March 1 to the shareholders of record on February 15. As of the February 28 market close, the stock’s dividend yield was 0.65%.
On February 14, American Equity Investment Life Holding Company (NYSE:AEL) announced its Q4 earnings result with a non-GAAP EPS of $1.99, topping the estimates by $0.24. The revenue of $1.06 billion grew 62.5% YoY.
First Pacific Advisors made the following comment about American Equity Investment Life Holding Company (NYSE:AEL) in its Q3 2023 investor letter:
6. CRH plc (NYSE:CRH)
CRH plc (NYSE:CRH) is an Ireland-based company that manufactures and distributes building materials in Europe and the Americas.
On February 26, CRH plc (NYSE:CRH) announced that it would acquire Adbri with the Barro Group. The company would acquire 57% of the ordinary shares, and the transaction is expected to be completed in 2024.
Splunk Inc. (NASDAQ:SPLK), AerCap Holdings N.V. (NYSE:AER), and Alphabet Inc. (NASDAQ:GOOGL) are some of the top stocks in George Soros’ stock portfolio besides CRH plc (NYSE:CRH).
ClearBridge Investments commented on CRH plc (NYSE:CRH) in its fourth quarter 2023 investor letter. Here is what it said: