10 Dividend Stocks That Billionaire George Soros Owns

Published on February 22, 2023 at 6:52 am by Vardah Gill in Dividend Stocks, Hedge Funds, News

In this article, we discuss 10 dividend stocks that billionaire George Soros owns. You can skip our detailed analysis of Soros’ investment philosophy and his hedge fund’s performance, and go directly to read 5 Dividend Stocks That Billionaire George Soros Owns.

Hungarian-born American investor George Soros is one of the world’s most celebrated hedge fund managers. He recently made the headlines for passing controversial remarks about Indian Prime Minister, Narendra Modi, at the Munich Security Conference. However, the backlash he received from the audience did not hold any effect on his investments in India. In the fourth quarter of 2022, his hedge fund increased its position in an Indian startup, Freshworks, to over $33.3 million.

Soros is mainly famous for making $1.1 billion in profits by betting on the British pound’s fall in 1992. Because of this stunt, he widely came to be known as ‘the man who broke the Bank of England’. As of February 2023, the billionaire’s real-time net worth came in at $6.7 billion.

Soros Fund Management follows a global macro strategy, making bets on currency rates and other economic fluctuations. Soros studies the financial markets carefully as well as gauges the behaviors of market participants. Soros believes that the behavior of market participants is crucial in understanding the irregular and fluctuating nature of the market. Following these investment philosophies, his hedge fund managed to report positive returns over the years. The fund averaged an annual return of 20% from 1970 to 2011. In 2020, his fund gained 23.2%, versus an average hedge fund return of 11.6% during the same year, as reported by Wall Street Journal.

As of the close of Q4 2022, Soros Fund Management’s 13F portfolio has a value of over $7.26 billion, compared with $5.8 billion in the previous quarter. Some of the hedge fund’s major holdings in Q4 included Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG), and The Walt Disney Company (NYSE:DIS). However, in this article, we will focus on dividend stocks that billionaire George Soros owns.

George Soros of Soros Fund Management

Our Methodology:

For this list, we selected dividend stocks in Soros Fund Management’s portfolio, as of Q4 2022. The stocks are ranked according to their stake value in the fund.

Dividend Stocks That Billionaire George Soros Owns

10. The Goldman Sachs Group, Inc. (NYSE:GS)

Soros Fund Management’s Stake Value: $784,280

Dividend Yield as of February 21: 2.77%

The Goldman Sachs Group, Inc. (NYSE:GS) is a New York-based multinational investment bank that provides financial services to its consumers. Soros Fund Management started investing in the company during the fourth quarter of 2010 with shares worth over $807,000. In Q4 2022, the hedge fund did not change its position in the company and owned stakes worth $784,280. The company made up 0.01% of the billionaire George Soros’s portfolio. Other prominent holdings of the hedge fund include Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG), and The Walt Disney Company (NYSE:DIS).

On January 17, The Goldman Sachs Group, Inc. (NYSE:GS) declared a quarterly dividend of $2.50 per share and has a dividend yield of 2.77%, as of February 21.

In February, Wells Fargo raised its price target on The Goldman Sachs Group, Inc. (NYSE:GS) to $420 with an Overweight rating on the shares, highlighting the company’s price-to-book ratio relative to its peers.

At the end of Q4 2022, 74 hedge funds in Insider Monkey’s database owned stakes in The Goldman Sachs Group, Inc. (NYSE:GS), up from 69 in the previous quarter. The collective value of these stakes is roughly $5 billion. Ken Griffin and Cliff Asness were some of the company’s most prominent stakeholders in Q4.

Here is what Manole Capital Management had to say about The Goldman Sachs Group, Inc. (NYSE:GS) in its Q3 2022 investor letter:

“Back in 2019, The Goldman Sachs Group, Inc. (NYSE:GS) made a splash in the card industry by working with Apple and MasterCard on a credit card. The actual card is fairly sleek (as you can see below), as customers names are etched into an Apple titanium card. The no-fee card generated a lot of hype, as many early users were quick to post their latest card on various social media sites.

The initial goal of Marcus (back in 2016) was to leverage Goldman’s wonderful name brand and build a full-service digital bank. This card was a large piece of GS’s ambitions to grow its retail banking franchise called Marcus. After 5 years, Marcus now has 14 million customers and $16 billion in loan balances. Surprisingly, Marcus now represents nearly 20% of the firm’s total revenue.

We thought it would be interesting to look how the Apple Card is doing in terms of loans and exposures. With over $100 billion in assets, this has been a successful source of cheap deposits for GS. Despite having an institutional / “white shoe” brand in the investment banking and trading world, GS’s Apple Card has been a disappointment.” (Click here to read the full text)

9. Eastman Chemical Company (NYSE:EMN)

Soros Fund Management’s Stake Value: $2,003,913

Dividend Yield as of February 21: 3.83%

Eastman Chemical Company (NYSE:EMN) is a Tennessee-based chemical industry company that also specializes in a wide range of advanced materials. The company is one of the latest acquisitions of Soros Fund Management, as the hedge fund started its position in the company with stakes worth over $2 million. The company represented 0.02% of billionaire George Soros portfolio.

On February 14, Eastman Chemical Company (NYSE:EMN) declared a quarterly dividend of $0.79 per share, which fell in line with its previous dividend. The company is one of the best dividend stocks on our list as it has been increasing its dividends consistently for the past 13 years. The stock’s dividend yield on February 21 came in at 3.83%.

In January, UBS raised its price target on Eastman Chemical Company (NYSE:EMN) to $108 with a Buy rating on the shares. The firm expects the company’s earnings to accelerate significantly.

As per Insider Monkey’s Q4 2022 database, 32 hedge funds owned stakes in Eastman Chemical Company (NYSE:EMN), the same as in the previous quarter. These stakes are valued at nearly $261 million collectively. Among these hedge funds, AQR Capital Management was the company’s leading stakeholder.

8. The Sherwin-Williams Company (NYSE:SHW)

Soros Fund Management’s Stake Value: $2,178,927

Dividend Yield as of February 21: 1.09%

The Sherwin-Williams Company (NYSE:SHW) is an American manufacturing company that specializes in painting and coating materials. On February 15, the company declared a 0.5% hike in its quarterly dividend to $0.605 per share. This marked the company’s 44th consecutive year of dividend growth. The stock has a dividend yield of 1.09%, as of February 21.

In the fourth quarter of 2022, Soros Fund Management increased its position in The Sherwin-Williams Company (NYSE:SHW) by 14%. The fund’s total stake in the company amounted to over $2.1 million. The company made up 0.03% of billionaire George Soros’ portfolio.

In January, JPMorgan maintained an Overweight rating on The Sherwin-Williams Company (NYSE:SHW) with a $235 price target. The firm showed confidence in the company’s purchasing this year.

At the end of Q4 2022, 64 hedge funds tracked by Insider Monkey reported owning stakes in The Sherwin-Williams Company (NYSE:SHW), up from 63 in the previous quarter. The collective value of these stakes is over $2.4 billion. With over 1.3 million shares, Farallon Capital was the company’s leading stakeholder in Q4.

7. The Southern Company (NYSE:SO)

Soros Fund Management’s Stake Value: $2,856,400

Dividend Yield as of February 21: 4.12%

The Southern Company (NYSE:SO) is a Georgia-based electric power distribution company. In January, Credit Suisse raised its price target on the stock to $70, considering the company’s performance during inflationary periods.

The Southern Company (NYSE:SO) currently pays a quarterly dividend of $0.60 per share. In 2022, the company extended its dividend growth streak to 21 years. As of February 21, the stock has a dividend yield of 4.12%.

Soros Fund Management initiated its position in The Southern Company (NYSE:SO) during the fourth quarter of 2022, with shares worth over $2.8 million. The company represented 0.03% of billionaire George Soros’ portfolio.

As of the close of Q4 2022, 26 hedge funds reported owning stakes in The Southern Company (NYSE:SO), worth nearly $790 million. With over 1.7 million shares, Zimmer Partners was the company’s leading stakeholder in Q4.

6. Energy Transfer LP (NYSE:ET)

Soros Fund Management’s Stake Value: $5,670,893

Dividend Yield as of February 21: 9.05%

Energy Transfer LP (NYSE:ET) is a Texas-based company that is involved in natural gas and propane pipeline transport. On January 26, the company declared a 15% hike in its quarterly dividend to $0.305 per share, which was the company’s fifth consecutive quarter of dividend growth. The stock has a dividend yield of 9.05%, as of February 21.

In the fourth quarter of 2022, Soros Fund Management owned 477,750 shares in Energy Transfer LP (NYSE:ET), worth over $5.6 million. The company made up 0.07% of billionaire George Soros’ portfolio. The company is another important holding of the hedge fund alongside Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG), and The Walt Disney Company (NYSE:DIS).

At the end of Q4 2022, 38 hedge funds tracked by Insider Monkey had stakes in Energy Transfer LP (NYSE:ET), compared with 33 in the previous quarter. The collective value of these stakes is over $613.4 million. Abrams Capital Management was the company’s leading stakeholder in Q4.

Click to continue reading and see 5 Dividend Stocks That Billionaire George Soros Owns.

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Published on May 1, 2024 at by Inan Dogan, PhD

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Published on May 2, 2024 at by Insider Monkey Staff

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