George Soros’ Top 5 Stock Picks

2. Palantir Technologies (NASDAQ: PLTR)

Shares of Palantir Technologies (NASDAQ: PLTR), which was founded by legendary investor and PayPal’s cofounder Peter Thiel, swelled significantly since its debut on New York Stock Exchange. Soros Fund has converted its early investment in Palantir into publicly traded shares in September and it is the second-largest stock holding of Soros Fund Management, according to the latest filing.

Guardian Fund, which returned 52% for 2020, believes Palantir Technologies has strong growth prospects ahead. Here is what Guardian Fund stated:

“In October, we bought a stake in Palantir. Earlier, in June, our concentrated Tech Fund, which has a mandate to also buy shares in the secondary market, bought shares of Palantir from insiders, before the direct listing. At the price we bought, the equity had much more upside than downside. Palantir is operating a software platform that functions as the digital infrastructure for data-driven operations and decision making. The software helps to structure and capture context in data of large corporations. Governments are increasingly realizing that they have to deal with serious data challenges and cyber risk. As most governments cannot attract the most talented software engineers, they need private enterprises such as Palantir to help them build solid infrastructure. Foundry, Palantir’s software for enterprises, is used by companiesto make safer cars and airplanes or to accelerate cancer research. The speed to bring new clients on board is improving and revenues will grow faster than expenses. Palantir has a long runway of growth ahead.”