Surveying the latest stock transactions of billionaire George Soros, observers would have to surmise tech stocks are in and financial stocks — not to mention some industrials — are out.
Soros went even bigger on Google (NASDAQ:GOOG) and bought into Netflix (NASDAQ:NFLX), Qualcomm (NASDAQ:QCOM) and LinkedIn (NYSE:LNKD), according to filings detailing his fund’s activity.
Soros’s buying and selling activity is always of note, and he proved yet again he’s into Google for the long term. For a stock that continues growing, Google has the distinct advantage in that employees believe the company is going to continue innovating. Google topped the lit of companies with the “Best Business Outlook in the Next 6 Months,” a survey taken by Glassdoor.com. Perhaps not coindientally, Qualcomm came in second on the same list.
The introduction of LinkedIn and Netflix to the Soros portfolio marks a substantial increase in the billionaire’s tech holdings. All told, the technology sector constitutes over 16 percent of Soros’s portfolio while the number of financial services stocks slipped to just 2.3 percent. The Soros fund sold holdings in Citigroup (NYSE:C) and AIG (NYSE:AIG), along with its entire holdings of General Motors (NYSE:GM).
via Business Insider.