George Soros and Jim Cramer Love These Stocks
In this article, we discuss the 10 stocks that George Soros and Jim Cramer love. If you want to read about some more stocks in the portfolio of Soros and Cramer, go directly to George Soros and Jim Cramer Love These 5 Stocks.
George Soros, the founder of Soros Fund Management, is one of the richest men in the world with a net worth of close to $7 billion. On the face of it, he has little in common with Jim Cramer, a finance journalist working for news platform CNBC. However, both command great audiences when they make moves related to the United States stock market. Soros, through the 13F filings for his investment firm, and Cramer, through the stock recommendations and observations that he gives on legacy and social media platforms.
Soros and Cramer are completely different personalities. While Soros is an old-school investor, focusing on expert macroeconomic analysis to make massive bets in currencies, bonds, commodity prices, and stocks, Cramer is more modern, focusing on basic fundamentals and near-term market trends. Their investing philosophies often overlap, as in recent months, both are bullish on Alphabet Inc. (NASDAQ:GOOG), Amazon.com, Inc. (NASDAQ:AMZN), and Novo Nordisk A/S (NYSE:NVO), among other firms discussed in detail below.
Soros is 92 years-old, a veteran of the finance industry, and has more than seven decades of experience in the field. He only retired earlier this year when he handed over the reins of his family office and charitable foundation to Alex, his second-youngest child. Cramer is 68 years-old, is a former hedge fund manager like Soros, and has close to four decades of experience in the world of stocks. Both investors recommend equities as one of the best investment vehicles for the average person.
Soros became famous by shorting the British pound in 1992, a bet that earned him over $1 billion in profits. Cramer earned a name for himself by averaging returns of more than 24% over a fourteen year period at his hedge fund, making more than $10 million in profits each year. Although they have avoided sparring publicly over their investment strategies, Cramer did call out George Soros once in 2016 for being “too negative” about the markets, saying that people should not be blinded by the billionaire spotlight hoping it would shine on them.
Our Methodology
The stocks were picked from the third quarter regulatory filings of Soros Fund Management. Only the firms towards which Jim Cramer has also expressed bullish sentiment were selected. Data from around 900 elite hedge funds tracked by Insider Monkey in the third quarter of 2023 was used to identify the number of hedge funds that hold stakes in each firm.
George Soros and Jim Cramer Love These Stocks
10. DoorDash, Inc. (NYSE:DASH)
Number of Hedge Fund Holders: 57
DoorDash, Inc. (NYSE:DASH) is a logistics platform that connects merchants with consumers. Latest data shows that Soros Fund Management owned over 178,000 shares of DoorDash, Inc. (NYSE:DASH) at the end of the third quarter of 2023 worth $14 million, representing a small portion of the portfolio.
Earlier this month, Jim Cramer lauded the earnings of DoorDash, Inc. (NYSE:DASH), singling it out as one of the firms that posted amazing numbers.
Among the hedge funds being tracked by Insider Monkey, Singapore-based investment firm Himension Capital is a leading shareholder in DoorDash, Inc. (NYSE:DASH) with 5.8 million shares worth more than $464 million.
Just like Alphabet Inc. (NASDAQ:GOOG), Amazon.com, Inc. (NASDAQ:AMZN), and Novo Nordisk A/S (NYSE:NVO), DoorDash, Inc. (NYSE:DASH) is one of the stocks that George Soros and Jim Cramer are bullish on.
9. Las Vegas Sands Corp. (NYSE:LVS)
Number of Hedge Fund Holders: 45
Las Vegas Sands Corp. (NYSE:LVS) is a Last Vegas-based casino firm that was founded in 1988. The hedge fund of billionaire George Soros owned 517,000 shares of Las Vegas Sands Corp. (NYSE:LVS) at the end of the third quarter of 2023 worth more than $23 million, representing 0.33% of the portfolio.
Earlier this year, Jim Cramer named Las Vegas Sands Corp. (NYSE:LVS) among a basket of stocks that had done well despite the benchmark S&P 500 bottoming out last year. He said investors needed to know “which stocks can make us the most money when we get a true trend-line inflection”.
Among the hedge funds being tracked by Insider Monkey, Texas-based investment firm Fisher Asset Management is a leading shareholder in Las Vegas Sands Corp. (NYSE:LVS) with 10.5 million shares worth more than $485 million.
In its Q1 2023 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Las Vegas Sands Corp. (NYSE:LVS) was one of them. Here is what the fund said:
“In the first quarter of 2023, we re-acquired shares in Macau-centric casino gaming companies Wynn Resorts, Limited and Las Vegas Sands Corp. (NYSE:LVS) with the following considerations in mind:
Since the early days of the COVID-19 pandemic in 2020 through mid-2022, the shares of Wynn and Las Vegas Sands significantly underperformed the share price performance of other U.S.-centric casino gaming and lodging companies due in large part to extremely limited travel mobility to Macau during China’s Zero-COVID policy. Just as business activity and the shares of U.S.-centric casino gaming companies rebounded sharply once people felt comfortable to travel to Las Vegas and other U.S. regional gaming markets, we have felt that Macau business activity and the shares of Macau-centric casino gaming companies would follow in the footsteps of Las Vegas-centric and other U.S. gaming and lodging companies and inflect positively once people were permitted to travel to Macau more freely.
China recently abandoned it’s Zero-COVID policy and removed travel restrictions in January 2023. We now believe both Wynn and Las Vegas Sands are well positioned to capitalize on China’s reopening.
For Las Vegas Sands, we believe additional drivers for future value creation beyond a re-emergence in Macau business activity include: (i) our expectation for a continued positive inflection in visitation and cash flow at Marina Bay Sands, Singapore; (ii) Las Vegas Sands’ plans to invest $4.5 billion in Macau and Singapore in the next 10 years; (iii) the company’s plans to pursue a New York casino and its prioritization of Texas as a new market; and (iv) the possibility that Las Vegas Sands reinstates its dividend in the next few years…”
8. Intuit Inc. (NASDAQ:INTU)
Number of Hedge Fund Holders: 86
Intuit Inc. (NASDAQ:INTU) provides financial management and compliance products. The hedge fund of billionaire George Soros owned over 74,000 shares of Intuit Inc. (NASDAQ:INTU) at the end of the third quarter of 2023 worth more than $38 million, representing 0.53% of the portfolio.
In August, Cramer urged investors to have patience and not sell shares of firms that were not doing well, pointing out that investors would “do better sticking with stocks rather than hiding out in Treasurys”. He outlined how Intuit Inc. (NASDAQ:INTU) had fallen to the $30s or $40s range in the flash crash of 2010 but has since climbed to record highs, noting that “good companies sometimes have hiccups”.
Among the hedge funds being tracked by Insider Monkey, Texas-based investment firm Fisher Asset Management is a leading shareholder in Intuit Inc. (NASDAQ:INTU) with 2.8 million shares worth more than $1.4 billion.
In its Q3 2023 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Intuit Inc. (NASDAQ:INTU) was one of them. Here is what the fund said:
“Intuit Inc. is the leading provider of accounting software for small businesses and tax preparation software for individuals and tax professionals. Shares increased after the company reported financial results that exceeded Street expectations, with 13% revenue growth and 22% EPS growth in the recently completed fiscal year. Management provided favorable guidance for the next fiscal year that demonstrated confidence in the business momentum despite macroeconomic uncertainty. Intuit is benefiting from the sale of higher-value services and is well positioned to capitalize on increasing adoption of artificial intelligence given the company’s vast datasets. We continue to own the stock due to Intuit’s strong competitive position and numerous growth opportunities.”
7. Uber Technologies, Inc. (NYSE:UBER)
Number of Hedge Fund Holders: 146
Uber Technologies, Inc.(NYSE:UBER) develops and operates proprietary technology applications worldwide. Securities filings show that Soros Fund Management owned over 878,955 shares of Uber Technologies, Inc.(NYSE:UBER) at the end of September 2023 worth $40 million, representing 0.54% of the portfolio.
Earlier this month, during the Lightning Round of his show, Jim Cramer, in response to an audience question about Uber Technologies, Inc.(NYSE:UBER), outlined his bullish views on the firm. He said, “[Buy, buy, buy!] I think this was the beginning of what is going to be a period where some of these companies that became public during the era are just breaking away from the pack”.
At the end of the third quarter of 2023, 146 hedge funds in the database of Insider Monkey held stakes worth $8.1 billion in Uber Technologies, Inc.(NYSE:UBER), compared to 144 in the preceding quarter worth $7.6 billion.
In its Q3 2023 investor letter, RiverPark Funds, an asset management firm, highlighted a few stocks and Uber Technologies, Inc. (NYSE:UBER) was one of them. Here is what the fund said:
“Uber Technologies, Inc. (NYSE:UBER): UBER was the top contributor in the quarter following a better-than-expected 2Q23 earnings report and 3Q23 guidance. Gross bookings of $33.6 billion were up 16% year over year. Mobility gross bookings of $17 billion grew 25% over last year driven by a combination of product innovation and driver availability. Delivery gross bookings of $16 billion were up 12% from last year. 2Q Adjusted EBITDA of $916 million, up $552 million year over year, significantly beat Street estimates of $845 million and the company generated $1.1 billion of free cash flow. Management guided to continuing growth in 3Q Gross Bookings (17%-20% growth) and Adjusted EBITDA (of $975-1,025 million).
UBER remains the undisputed global leader in ride sharing, with a greater than 50% share in every major region in which it operates. The company is also a leader in food delivery, where it is number one or two in the more than 25 countries in which it operates. Moreover, after a history of losses, the company is now profitable, delivering expanding margins and substantial free cash flow. We view UBER as more than just ride sharing and food delivery, but also as a global mobility platform with the ability to sell to its 130 million users (by comparison, Amazon Prime has 200 million members) and penetrate new markets of on-demand services, such as package and grocery delivery, travel, and worker staffing for shift work. Given its $4.3 billion of unrestricted cash and $4.4 billion of investments, the company’s enterprise value of $95 billion equates to just over 20x next year’s estimated free cash flow.”
6. Booking Holdings Inc. (NASDAQ:BKNG)
Number of Hedge Fund Holders: 81
Booking Holdings Inc. (NASDAQ:BKNG) provides travel and restaurant online reservation and related services worldwide. According to the latest data, Soros Fund Management owned 14,000 shares in Booking Holdings Inc. (NASDAQ:BKNG) at the end of the third quarter of 2023 worth $43 million, representing 0.61% of the portfolio.
On November 13, in an article for CNBC, Jim Cramer identified the faith that market analysts were showing in Booking Holdings Inc. (NASDAQ:BKNG), noting how Bernstein had upgraded the firm to Market Perform from Underperform, arguing that the stock’s valuation looked unchallenging and the company’s stock buyback plans would continue to make it popular with investors.
At the end of the third quarter of 2023, 81 hedge funds in the database of Insider Monkey held stakes worth $5.8 billion in Booking Holdings Inc. (NASDAQ:BKNG), compared to 78 in the preceding quarter worth $6.5 billion.
Along with Alphabet Inc. (NASDAQ:GOOG), Amazon.com, Inc. (NASDAQ:AMZN), and Novo Nordisk A/S (NYSE:NVO), Booking Holdings Inc. (NASDAQ:BKNG) is one of the stocks that George Soros and Jim Cramer are bullish on.
In its Q3 2023 investor letter, Ensemble Capital Management, an asset management firm, highlighted a few stocks and Booking Holdings Inc. (NASDAQ:BKNG) was one of them. Here is what the fund said:
“Booking Holdings Inc. (NASDAQ:BKNG) (+14.21%): Despite macroeconomic worries and inflation eating into global consumers’ ability to spend, households around the world continue to prioritize travel. While so called “revenge travel,” or increased travel spending after being stuck inside during COVID, has likely run its course, global hotel room nights have only recently returned to pre-COVID trends. As COVID has mostly ceased to have an impact on travel, other than in Asia where China’s extended lockdown means a recovery is still ongoing, growth going forward is likely to be more modest. But during COVID, Booking stayed on offense and has been taking market share. Notably, the company’s alternative accommodations offering has grown substantially and in recent quarters has grown faster than Airbnb.”
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Disclosure. None. George Soros and Jim Cramer Love These Stocks is originally published on Insider Monkey.