A more recent holding announcement for Soros is a big stake in struggling retailer J.C. Penney Company, Inc. (NYSE:JCP). The share purchases were announced in April, while the latest 13F filing only reflects activity in the quarter ended on March 31. Some of our analysts suggest that buying the retailer might be like lighting money on fire.
Soros Fund Management reduced its stake in lots of companies, including Micron Technology, Inc. (NASDAQ:MU), which is trading near its 52-week high lately. Its advocates see growth in tablets and smartphones driving demand for memory chips, though a sputtering PC market isn’t helpful. Bulls liked its second-quarter earnings report, too, which featured lower costs and rising margins that hinted at a return to profitability soon. Micron Technology, Inc. (NASDAQ:MU)’s purchase of Japanese manufacturer Elpida also seems promising, boosting its capacity and its relationship with Apple Inc. (NASDAQ:AAPL). Bears worry about Micron losing market share, though, and don’t like the commoditization of memory or Micron’s debt.
Finally, Soros’s biggest closed positions included JPMorgan Chase & Co. (NYSE:JPM) and General Electric Company (NYSE:GE). Other closed positions of interest include RF Micro Devices, Inc. (NASDAQ:RFMD), which specializes in high-performance radio-frequency technology. The company received an analyst upgrade in March, due to its successful diversification away from Nokia Corporation (ADR) (NYSE:NOK) and its profitable growing presence in Samsung and Apple Inc. (NASDAQ:AAPL) devices. Since then, the stock has hit a 52-week high, and some are hoping that it will do a lot of business in China. Its recently reported fourth quarter featured revenue up 49% over year-ago levels, but its free cash flow has been falling, while net income has also shrunk.
We should never blindly copy any investor’s moves, no matter how talented the investor. But it can be useful to keep an eye on what smart folks are doing. 13-F forms can be great places to find intriguing candidates for our portfolios.
The article Here’s What Investing Giant George Soros Has Been Buying originally appeared on Fool.com.
Longtime Fool contributor Selena Maranjian, whom you can follow on Twitter, owns shares of Apple, JPMorgan Chase, and Baidu. The Motley Fool recommends and owns shares of Apple and Baidu. It owns shares of General Electric and JPMorgan Chase.
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