George Soros, the founder and operator of one of the most sought-after hedge funds, Soros Fund Management LLC, is taking the world of hedge funds by storm. Aside from being the successful man behind a big company, George Soros also made a mark in the industry as the “Man who broke the Bank of England”, making him a truly iconic member of the world of financing. Forbes magazine even considered George Soros as an investing heavyweight through the use of Soros Fund Management LLC.

In the first quarter, Soros’ $4.53 billion fund generated a (4.70%) loss for investors. Soros invests mostly in the technology sector, with services and basic materials coming in second and third, respectively. Let’s take a look at the three notable changes Soros made to his portfolio in the first quarter of the year:  Apple Inc. (NASDAQ:AAPL), Barrick Gold Corporation (USA) (NYSE:ABX), PayPal Holdings Inc (NASDAQ:PYPL).

Soros Portfolio Performance

Apple Inc.

George Soros, just like Warren Buffet, revealed that he decided to buy thousands of shares of Apple stock as prices drifted to the lowest point in several years. Soros Fund Management LLC initiated a position in Apple by purchasing 3,100 shares making up a mere 0.01% of his total holdings.

The decline in Apple's share price came as Apple reported its first drop in revenues in 13 years, marking the first ever year-over-year decline in iPhone sales. Despite the decline in iPhone sales, Apple still managed to generate $10.5 billion in profit for the quarter.

According to TipRanks statistics, the consensus price target for AAPL is $123.16, marking a 31.86% upside from current prices. Out of all the analysts who have rated the stock in the past 3 months, TipRanks shows that 82% gave a Buy rating, 2% gave a Sell rating, and the remaning 16% remaining on the sidelines. 

Barrick Gold Corporation (USA)

The world of financing was shocked when George Soros purchased $263.7 million worth of shares in Barrick Gold Corporation. The Barrick Gold Corporation is the largest gold mining company in the world. However, come October of 2015, Barrick Gold Corporation’s shares tripped below $8, inclining ABX's competitors to believe that the stock would continuously fall. But, George Soros added a new holding for the Barrick Gold Corporation.

Barrick managed to beat its Q1 earnings with its EPS of $0.11 beating consensus EPS by just one cent. Cash and cash equivalents were up approximately 3% as of March 31st with ABX generating about $181 million in free cash flow for the quarter.

Because of the unexpected acquisition made by Soros Fund Management LLC, the people in the financing industry are wondering if it is still possible to revive a company like Barrick Gold Corporation. Currently, the average price target for ABX is $18.23 according to TipRanks. Out of all the analysts who have rated the stock in the past 3 months, 37.5% of analysts maintain a Buy rating for ABX, while 50% iterate a Hold rating, and 12.5% uphold a Sell rating.

PayPal Holdings Inc

George Soros bet on eBay and PayPal in 2015. Both eBay and PayPal are known as two of the biggest names in the world of trade and retail. It is not a surprising that Soros is captivated with the promising status of the two companies.

PayPal's sales were up 19% in Q1 with its CEO proclaiming the company's "best quarter ever." PayPal's enhanced performance could be due in part to the company's new focus on improving customer engagement following a re-launch of a new and improved PayPal app earlier in the year. PayPal's One Touch checkout system has also reached a staggering 21 million users.

Since eBay and PayPal split, George Soros made another move that outsmarts all other stock holders of these two companies. Soros reduced holdings in PayPal by more than 53%. Since last quarter, PYPL has seen returns of -9.12%. According to TipRanks, out of all the analysts who have rated the comapyn in the past 3 months, 56% gave a Buy rating, 4% gave a Sell rating, and 40% remain neutral. The average price target for PYPL is $43.06, marking a 22.75% upside.

 

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