George Soros Makes a Strategic Move with a 6.25% Stake in Smurfit WestRock PLC

In This Article:

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.

George Soros Makes a Strategic Move with a 6.25% Stake in Smurfit WestRock PLC
George Soros Makes a Strategic Move with a 6.25% Stake in Smurfit WestRock PLC

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 (NYSE:SW), 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), comprising 215,000 shares and representing 2.27% of the portfolio, with a total value of $124.02 million.

  • Global Payments Inc (NYSE:GPN), 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), 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 (NYSE:GFL), 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), selling all 450,000 shares, impacting the portfolio by -5.6%.

  • WestRock Co (WRK), 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 (NASDAQ:GOOGL) 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 (NASDAQ:CHX) 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.

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