5 Blue Chip Stocks to Buy Now According to Billionaire George Soros

4. T-Mobile US, Inc. (NYSE:TMUS)

Soros Fund Management’s Stake Value: $42,724,000

Percentage of Soros Fund Management’s 13F Portfolio: 0.76%

Number of Hedge Fund Holders: 96

T-Mobile US, Inc. (NYSE:TMUS) is a wireless network operator based in Bellevue, Washington delivering an advanced 4G LTE and a transformative nationwide 5G network through its flagship brands, T-Mobile, and Metro by T-Mobile. It had 110 million total customers as of June 30, 2022.

Soros Fund Management owns 317,556 shares of T-Mobile US, Inc. (NYSE:TMUS), accounting for 0.76% of its 13F portfolio. The hedge fund increased its stake by 12% in Q2 2022, as compared to the previous quarter.

In September, T-Mobile US, Inc. (NYSE:TMUS) disclosed in a regulatory filing that the company’s board of directors had authorized a stock repurchase program for up to $14 billion of its common stock, through September 30, 2023. Following the news, Raymond James analyst Ric Prentiss raised the price target on T-Mobile shares to $178 from $175 and maintained a ‘Strong Buy’ rating.

As of Q2 2022, 96 of the 895 hedge funds tracked by Insider Monkey owned shares of T-Mobile US, Inc. (NYSE:TMUS), valued at $6.9 billion. Its largest shareholder was Viking Global with ownership of 9.2 million shares valued at $1.2 billion.