George Soros and Jim Cramer Love These 5 Stocks

4. Splunk Inc. (NASDAQ:SPLK)

Number of Hedge Fund Holders: 67     

Splunk Inc. (NASDAQ:SPLK) provides software and cloud platform solutions. It is headquartered in California. Soros Fund Management owned 574,962 shares in Splunk Inc. (NASDAQ:SPLK) worth $84 million at the end of September 2023, representing 1.19% of the portfolio. 

In September this year, in an article for news platform CNBC, Jim Cramer highlighted the strides that Splunk Inc. (NASDAQ:SPLK) in the past few years, attracting the attention of top cloud companies like Cisco Systems that were looking to purchase the firm. Cramer had previously named the firm among a group of firms he called “Cloud Kings”. 

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm Pentwater Capital Management is a leading shareholder in Splunk Inc. (NASDAQ:SPLK) with 2.5 million shares worth more than $370 million.  

In its Q3 2023 investor letter, Fred Alger Management, an asset management firm, highlighted a few stocks and Splunk Inc. (NASDAQ:SPLK) was one of them. Here is what the fund said:

“Splunk Inc. (NASDAQ:SPLK) is a software platform for searching, monitoring, and analyzing machine-generated data in real time. The company collects data from a wide variety of sources, including application logs, web server logs, network devices, and security systems. Splunk then indexes and stores this data in a searchable format, making it easy to query and analyze. It can be used to detect and respond to security threats such as malware intrusions and data breaches. During the quarter, shares of Splunk contributed to performance after receiving an all-cash acquisition offer of $28 billion from Cisco. With unanimous approval from both boards, the company expects to complete the transaction by the third quarter of 2024.”