George Soros in a legendary investor and billionaire who is known for his excellent foresight and predictions about the stock market. He oversees Soros Fund Management, a hedge fund with $26 billion in assets. In this article we will talk about the favorite tech stocks of George Soros by analyzing the latest 13F filings by his hedge fund.
Soros Fund Management owns 261,672,000 FireEye shares as of the end of the second quarter. The net worth of these shares is about $247.42 million. FireEye is one of the hottest cybersecurity tech stocks. The company has a huge growth potential amid increasing cyber-attacks around the world. The stock soared last month after posting better-than-expected quarterly results. In September, Morgan Stanley published a bullish note for FireEye. The firm thinks that FireEye’s Helix platform is getting a lot of fame in the Enterprise world. Helix platform usage is expected to surge in the coming 3 years. FireEye is also cutting costs rapidly.
TiVo is a media and entertainment company. Soros Fund Management bought 4.8 million new shares of the company in the second quarter, ending the period with $163.43 million stake in the company. The Wall Street is bullish on the future of TiVo. The average price target for the stock is $27.6. On Sept. 28, B. Riley & Co. recommended its clients to “aggressively” buy TiVo amid the license extension from AT&T. AT&T recently announced to extend its license for TiVo for 3 years. Earlier this month, Florida-based financial services company ValuEngine upgraded TiVo stock to “Buy” from “Hold”.
Altaba Inc (NASDAQ:AABA)
George Soros initiated a new position in Altaba by buying over 2.54 million new shares of the company. The total worth of the new stake is $138.65 million. Altaba is an investment company that came into being after the acquisition of Yahoo by Verizon. Altaba owns several subsidiaries. It is also the owner of Excalibur IP, LLC, a patent company. Excalibur has stakes in Yahoo Japan and Alibaba Group. It also has some investments in Hortonworks, Snap Inc., Gomaji Corp, Envestnet, Qumu Corporation, SeatGeek, Protagenic Therapeutics, Eastman Kodak Company, and Paperless.