"Financial Giant" Soros doubles down on Apple, significantly increases holdings in Astrazeneca

Wallstreetcn
2024.08.15 09:08
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Billionaire Soros has made new investments in Apple and various popular tech stocks, significantly increased holdings in pharmaceutical stock Astrazeneca, while selling stocks of industrial giants like 3M

Amidst Warren Buffett's significant reduction in Apple holdings, "financial giant" Soros's fund heavily bets on tech stocks like Apple and Broadcom.

On August 14th, billionaire Soros's investment fund released its latest holdings data. The documents show that in the second quarter of this year, Soros Fund Management LLC held $160 million worth of Apple stocks, while also making new investments in chip stocks like Broadcom, Micron Technology, Texas Instruments, and AMD, among others.

However, not all chip companies were favored by Soros Fund Management LLC. The company sold its shares in Qualcomm and Ambarella Inc., as well as dumped stocks of financial technology company Block Inc. In the industrial sector, the company sold its stakes in 3M and Cummins.

Of note, the fund significantly increased its holdings of AstraZeneca by 2.0515 million shares in the second quarter, instantly boosting its total holdings to 2.4515 million shares, making it the fund's second largest position.

As of the second quarter of 2024, Soros Fund Management LLC's investment portfolio includes 155 stocks. Among them, SPDR S&P 500 ETF accounts for 5.6%, AstraZeneca for 4.37%, and Occidental Petroleum for 3.84%. These investments span across 10 industries, mainly focusing on healthcare, consumer, and industrial sectors.

Specifically, in the second quarter of this year, Soros Fund Management LLC initiated positions in 47 new stocks and significantly increased holdings in companies like AstraZeneca:

  • Initiated a position in the Standard & Poor's 500 ETF, accounting for 5.6% of the portfolio, valued at $2.449 billion.
  • Initiated a position in Champion Corp, accounting for 1.87% of the portfolio, valued at $818.6 million.
  • Initiated a position in Alibaba Group, accounting for 1.69% of the portfolio, valued at $738 million.
  • Significantly increased holdings of AstraZeneca by 2.0515 million shares, totaling 2.4515 million shares, accounting for 4.37% of the portfolio, valued at $1.912 billion.
  • Significantly increased holdings of WestRock Co by 2.4429 million shares, totaling 3.3429 million shares, valued at $1.682 billion.

Soros Fund Management LLC exited positions in 46 stocks in the second quarter and reduced holdings in companies like Google, Nokia, and Nordstrom:

  • All 1.9193 million shares of American Equity Investment Life Holding Company were sold, impacting the portfolio by -2.53%.
  • All 2.059 million shares of Emmaus Life Sciences were sold, impacting the portfolio by -1.57%.
  • Reduced Google holdings by 575,600 shares, a decrease of 38.62%, impacting the portfolio by -2.04%
  • Sold 622,600 shares of Novo Nordisk, reducing the holding by as much as 78.06%, impacting the investment portfolio by -1.87%
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