George Soros’ Top 5 Stock Picks

3. Palantir Technologies Inc. (NYSE:PLTR)

The software application platform Palantir Technologies Inc. (NYSE: PLTR) is a newcomer in Soros Fund Management 13F portfolio. Soros’ stock-picking strategy helped in generating massive gains from its Palantir stake. The fund disclosed a position in Palantir in its 13F because the data analytics software company went public during the third quarter. Shares of Palantir rallied almost 160% in the fourth quarter of 2020. After revealing its large Palantir stake, Soros Fund Management told CNN Business that “Soros Fund Management’s current stake in Palantir amounts to about 1% of the voting shares of Palantir and was a result of an early-stage investment made in 2012 by a portfolio manager who no longer works at Soros.”

Soros Fund Management also told in its statement that it doesn’t approve Palantir’s business practices and it made the initial investment in Palantir when “the negative social consequences of big data were less understood” and it wouldn’t make the same investment in this controversial stock today. Due to being an early investor and lockup restrictions, Soros Fund Management isn’t allowed to sell all of its positions in PLTR today, but it sounds like the fund will cash out as soon as it is legally allowed to do so.

Palantir has generated more than 50% revenue growth in the September quarter, with expectations that full-year revenue will hit the $1.07 billion levels.