Insights from the Latest 13F Filing for Q3 2024
George Soros (Trades, Portfolio), the renowned financier and chair of Soros Fund Management LLC, has recently disclosed his investment activities for the third quarter of 2024 through the latest 13F filing. Born in 1930 in Budapest, Soros is celebrated for his profound impact on global financial markets. His investment philosophy centers on the concept of "reflexivity," a theory suggesting that market participants' biases can influence market prices and broader economic conditions. This approach has guided Soros to significant success, notably during his speculative attack on the British Pound in 1992. Since converting his hedge fund into a family office in 2011, Soros continues to engage deeply in the financial markets, focusing on the inherent chaos and opportunities within.
Summary of New Buys
George Soros (Trades, Portfolio) strategically expanded his portfolio by adding 55 new stocks in the third quarter of 2024. Noteworthy new positions include:
- Smurfit WestRock PLC (SW, Financial), with a substantial acquisition of 6,896,971 shares, making up 6.25% of the portfolio and valued at $340.85 million.
- iShares Core S&P 500 ETF (IVV, Financial), comprising 215,000 shares and representing 2.27% of the portfolio, with a total value of $124.02 million.
- Global Payments Inc (GPN, Financial), holding 460,000 shares, accounting for 0.86% of the portfolio, valued at $47.11 million.
Key Position Increases
Additionally, Soros has significantly increased his stakes in several existing holdings:
- Financial Select Sector SPDR (XLF, Financial), with an additional 2,787,730 shares, bringing the total to 2,800,000 shares. This adjustment marks a 22,719.89% increase in share count and impacts the portfolio by 2.32%, with a total value of $126.90 million.
- GFL Environmental Inc (GFL, Financial), with an additional 2,618,589 shares, bringing the total to 3,156,327 shares. This represents a 486.96% increase in share count, valued at $125.87 million.
Summary of Sold Out Positions
In the third quarter of 2024, Soros completely exited 54 positions, including:
- SPDR S&P 500 ETF Trust (SPY, Financial), selling all 450,000 shares, impacting the portfolio by -5.6%.
- WestRock Co (WRK, Financial), liquidating all 3,342,953 shares, resulting in a -3.84% portfolio impact.
Key Position Reductions
Soros also reduced his holdings in several companies:
- Alphabet Inc (GOOGL, Financial) was reduced by 397,052 shares, a -43.4% decrease, impacting the portfolio by -1.65%. The stock traded at an average price of $167.74 during the quarter.
- ChampionX Corp (CHX, Financial) saw a reduction of 1,667,062 shares, a -67.63% decrease, impacting the portfolio by -1.26%. The stock traded at an average price of $31.58 during the quarter.
Portfolio Overview
As of the third quarter of 2024, Soros's portfolio included 154 stocks. The top holdings were 6.25% in Smurfit WestRock PLC (SW, Financial), 3.79% in AstraZeneca PLC (AZN, Financial), 2.76% in AerCap Holdings NV (AER, Financial), 2.54% in Alibaba Group Holding Ltd (BABA, Financial), and 2.33% in Financial Select Sector SPDR (XLF, Financial). The investments span across all 11 industries, with significant concentrations in sectors such as Consumer Cyclical, Healthcare, and Technology.
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.
