Insights from Soros Fund Management's Latest 13F Filing
George Soros (Trades, Portfolio), the legendary investor and chairman of Soros Fund Management LLC, has made his firm's latest investment moves public through the 13F filing for the third quarter of 2023. Born in 1930 in Budapest, Soros is renowned for his investment prowess, particularly his successful bet against the British Pound in 1992. After converting his hedge fund into a family office in 2011, Soros continues to influence markets with his theory of "reflexivity," which suggests that investor biases can lead to opportunities in chaotic financial markets.
New Additions to Soros' Portfolio
George Soros (Trades, Portfolio)'s firm has strategically expanded its portfolio by adding 69 new stocks. Noteworthy additions include:
- Activision Blizzard Inc (ATVI, Financial), with a substantial 3,000,001 shares, making up 5.42% of the portfolio and valued at $280.89 million.
- Abcam PLC (ABCM, Financial), comprising 6,183,749 shares, which represents 2.7% of the portfolio, with a total value of $139.94 million.
- Novo Nordisk A/S (NVO, Financial), with 1,525,830 shares, accounting for 2.68% of the portfolio and a total value of $138.76 million.
Significant Increases in Existing Holdings
Soros Fund Management has also bolstered its positions in 22 stocks, with the most significant increases being:
- AerCap Holdings NV (AER, Financial), where an additional 1,016,395 shares were acquired, bringing the total to 1,857,644 shares. This represents a 120.82% increase in share count and a 1.23% impact on the current portfolio, valued at $116.42 million.
- Jacobs Solutions Inc (J, Financial), with an additional 171,231 shares, increasing the total to 197,116. This adjustment marks a 661.51% increase in share count, with a total value of $26.91 million.
Complete Exits from Certain Holdings
In a move to refine his investment strategy, Soros exited 34 holdings in the third quarter of 2023, including:
- PDC Energy Inc (PDCE, Financial), where all 1,393,467 shares were sold, impacting the portfolio by -2.4%.
- Rivian Automotive Inc (RIVN, Financial), with the liquidation of all 4,187,680 shares, causing a -1.69% impact on the portfolio.
Notable Reductions in Portfolio Positions
Adjusting his stakes, Soros Fund Management reduced positions in 18 stocks. The most impactful reductions were:
- iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD, Financial), with a decrease of 3,063,390 shares, leading to a -96.53% reduction and an -8.02% impact on the portfolio. The ETF's average trading price was $105.44 during the quarter, with a -1.17% return over the past three months and -1.57% year-to-date.
- RenaissanceRe Holdings Ltd (RNR, Financial), with a reduction of 75,348 shares, resulting in a -40.37% decrease and a -0.34% impact on the portfolio. The stock's average trading price was $192.38 during the quarter, with a 13.64% return over the past three months and 13.59% year-to-date.
Overview of Soros' Q3 2023 Portfolio
As of the third quarter of 2023, George Soros (Trades, Portfolio)'s portfolio is composed of 176 stocks. The top holdings include 7.34% in Horizon Therapeutics PLC (HZNP, Financial), 5.42% in Activision Blizzard Inc (ATVI, Financial), 3.54% in Alphabet Inc (GOOGL, Financial), 2.7% in Abcam PLC (ABCM, Financial), and 2.68% in Novo Nordisk A/S (NVO, Financial). The investments span across 10 of the 11 industries, with a focus on Healthcare, Communication Services, Technology, Consumer Cyclical, Financial Services, Industrials, Basic Materials, Energy, Utilities, and Consumer Defensive.
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.
