(GuruFocus, September 16, 2009) Warren Buffett and George Soros represents the two extremes of investing. Buffett likes to buy a concentrated number of good stocks at reasonable price and then hold “forever”. Soros has many other interest such as derivatives and currencies besides stocks, but his view towards stocks is the same as those towards the other instruments, he buy a large number of them and trade them.
As of June 30, 2009, Buffett through Berkshire Hathaway owned $49 billion in 41 stocks; Soros, $2.61 billion in 148 stocks, according to GuruFocus Data. Granted, Soros’s portfolio is not as diversified as these numbers suggest, GuruFocus portfolio overview data shows top five accounts for 47.4 of Soros’s equity portfolio and top 10 accounts for 60.7%.
Both make money, in stock market or otherwise.
I always wonder what is like to own more than 100 stocks. First how do I come up with all the stocks that worth investing? How can I find time analyze them and decide when to buy and how much to buy? Then what about following up with the developments of each company? And finally what criteria do I use to decide which and when to sell? I am only human, that is why I find Gurus like Buffett and Bruce Berkowitz so likable.
Perhaps Soros likes Buffett too. Else why he wants to buy so many stocks that Buffett owns?
Here is the updated list:
Back in July, we wrote about the same topic and back then there were a total of five company: ConocoPhillips, Wal-Mart Stores Inc., Lowe's Companies Inc., The Home Depot Inc., NRG Energy Inc. Soros sold out ConocoPhilips so it was dropped out. This part review this four stocks.
WalMart Stores Inc. (WMT, Financial)
Wal-Mart Stores Inc. is the world's largest retailer. They are engaged in the operation of mass merchandising stores which serve their customers primarily through the operation of three segments which are the Wal-Mart Stores segment the SAM'S Club segment and the International segment. Walmart Stores Inc. has a market cap of $196.31 billion; its shares were traded at around $50.38 with a P/E ratio of 14.6 and P/S ratio of 0.5. The dividend yield of Walmart Stores Inc. stocks is 2.2%. Walmart Stores Inc. had an annual average earning growth of 13.3% over the past 10 years. GuruFocus rated Walmart Stores Inc. the business predictability rank of 5-star.
We may not see WMT in the list next time we revisit the topic as Soros owns 89,710 shares as of 06/30/2009, a decrease of 95.06% of from the previous quarter. This position accounts for 0.17% of the $2.61 billion portfolio of Soros Fund Management LLC. So he is on his way out of the stock.
Buffett owns 19,944,300 shares as of 06/30/2009, which accounts for 1.97% of the $48.95 billion portfolio of Berkshire Hathaway.
Lowe's Companies Inc. (LOW, Financial)
Lowe's Companies Inc. is a retailer of home improvement products in the world with specific emphasis on retail do-it-yourself and commercial business customers. Lowe's specializes in offering products and services for home improvement home decor home maintenance home repair and remodeling and maintenance of commercial buildings. Lowe's principal customer groups are do-it-yourself retail customers and commercial business customers. Lowe's Companies Inc. has a market cap of $31.54 billion; its shares were traded at around $21.36 with a P/E ratio of 16.6 and P/S ratio of 0.7. The dividend yield of Lowe's Companies Inc. stocks is 1.7%. Lowe's Companies Inc. had an annual average earning growth of 21.4% over the past 10 years. GuruFocus rated Lowe's Companies Inc. the business predictability rank of 5-star.
Soros owns 579,900 shares as of 06/30/2009, a decrease of 89.19% of from the previous quarter. This position accounts for 0.43% of the $2.61 billion portfolio of Soros Fund Management LLC. Again Soros is exiting his position in this retailer.
Buffett owns 6,500,000 shares as of 06/30/2009, which accounts for 0.26% of the $48.95 billion portfolio of Berkshire Hathaway.
NRG Energy Inc. (NRG, Financial)
NRG Energy Inc owns and operates a diverse portfolio of power-generating facilities primarily in the United States. Its operations include baseload intermediate peaking and cogeneration facilities thermal energy production and energy resource recovery facilities. Nrg Energy Inc. has a market cap of $7.24 billion; its shares were traded at around $27.29 with a P/E ratio of 8.9 and P/S ratio of 1.1. Nrg Energy Inc. had an annual average earning growth of 25.9% over the past 5 years.
George Soros owns 15,023 shares as of 06/30/2009, a decrease of 97.06% of from the previous quarter. This position accounts for 0.01% of the $2.61 billion portfolio of Soros Fund Management LLC.
Warren Buffett owns 7,200,000 shares as of 06/30/2009, which accounts for 0.38% of the $48.95 billion portfolio of Berkshire Hathaway.
The Home Depot Inc. (HD, Financial)
Home Depot is the one of world's largest home improvement retailer. The company offers a level of service unprecedented among warehouse-style retailers. Home Depot stores cater to do-it-yourselfers as well as home improvement construction and building maintenance professionals. The Home Depot currently operates in the USA Canada Chile Puerto Rico and Argentina. The company also operates EXPO Design Centers across the U.S. and Villager's Hardware in New Jersey. The Home Depot Inc. has a market cap of $46.86 billion; its shares were traded at around $27.51 with a P/E ratio of 16.6 and P/S ratio of 0.7. The dividend yield of The Home Depot Inc. stocks is 3.3%. The Home Depot Inc. had an annual average earning growth of 19.5% over the past 10 years. GuruFocus rated The Home Depot Inc. the business predictability rank of 5-star.
Soros owns 190,500 shares as of 06/30/2009, a decrease of 95.15% of from the previous quarter. This position accounts for 0.17% of the $2.61 billion portfolio of Soros Fund Management LLC.Again, Soros is on his way out of this stock.
Buffett owns 2,757,898 shares as of 06/30/2009, a decrease of 25.46% of from the previous quarter. This position accounts for 0.13% of the $48.95 billion portfolio of Berkshire Hathaway. Buffett also has been selling this stock.
Conclusion
Soros is on his way out of several of the stocks that are also owned by Buffett, especially several retail stocks (WMT, LOW, and HD). Since George Soros is a trader, that should not be surprising.
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As of June 30, 2009, Buffett through Berkshire Hathaway owned $49 billion in 41 stocks; Soros, $2.61 billion in 148 stocks, according to GuruFocus Data. Granted, Soros’s portfolio is not as diversified as these numbers suggest, GuruFocus portfolio overview data shows top five accounts for 47.4 of Soros’s equity portfolio and top 10 accounts for 60.7%.
Both make money, in stock market or otherwise.
I always wonder what is like to own more than 100 stocks. First how do I come up with all the stocks that worth investing? How can I find time analyze them and decide when to buy and how much to buy? Then what about following up with the developments of each company? And finally what criteria do I use to decide which and when to sell? I am only human, that is why I find Gurus like Buffett and Bruce Berkowitz so likable.
Perhaps Soros likes Buffett too. Else why he wants to buy so many stocks that Buffett owns?
Here is the updated list:
| Symbol | Company | Guru Buying Last Quarter | Guru Selling Last Quarter |
|---|---|---|---|
| WMT | WalMart Stores Inc. | Soros | |
| LOW | Lowe's Companies Inc. | Soros | |
| NRG | NRG Energy Inc. | Soros | |
| HD | The Home Depot Inc. | Buffett, Soros | |
| WLP | WellPoint Inc. | Soros | Buffett |
| CMCSK | Comcast Corp. Special | Soros | |
| BNI | Burlington Northern Santa Fe Corp. | Soros | |
| UNH | UnitedHealth Group Inc. | Soros | Buffett |
| BAC | Bank of America Corp. | Soros | |
| STI | SunTrust Banks Inc. | Soros |
Back in July, we wrote about the same topic and back then there were a total of five company: ConocoPhillips, Wal-Mart Stores Inc., Lowe's Companies Inc., The Home Depot Inc., NRG Energy Inc. Soros sold out ConocoPhilips so it was dropped out. This part review this four stocks.
WalMart Stores Inc. (WMT, Financial)
Wal-Mart Stores Inc. is the world's largest retailer. They are engaged in the operation of mass merchandising stores which serve their customers primarily through the operation of three segments which are the Wal-Mart Stores segment the SAM'S Club segment and the International segment. Walmart Stores Inc. has a market cap of $196.31 billion; its shares were traded at around $50.38 with a P/E ratio of 14.6 and P/S ratio of 0.5. The dividend yield of Walmart Stores Inc. stocks is 2.2%. Walmart Stores Inc. had an annual average earning growth of 13.3% over the past 10 years. GuruFocus rated Walmart Stores Inc. the business predictability rank of 5-star.
We may not see WMT in the list next time we revisit the topic as Soros owns 89,710 shares as of 06/30/2009, a decrease of 95.06% of from the previous quarter. This position accounts for 0.17% of the $2.61 billion portfolio of Soros Fund Management LLC. So he is on his way out of the stock.
Buffett owns 19,944,300 shares as of 06/30/2009, which accounts for 1.97% of the $48.95 billion portfolio of Berkshire Hathaway.
Lowe's Companies Inc. (LOW, Financial)
Lowe's Companies Inc. is a retailer of home improvement products in the world with specific emphasis on retail do-it-yourself and commercial business customers. Lowe's specializes in offering products and services for home improvement home decor home maintenance home repair and remodeling and maintenance of commercial buildings. Lowe's principal customer groups are do-it-yourself retail customers and commercial business customers. Lowe's Companies Inc. has a market cap of $31.54 billion; its shares were traded at around $21.36 with a P/E ratio of 16.6 and P/S ratio of 0.7. The dividend yield of Lowe's Companies Inc. stocks is 1.7%. Lowe's Companies Inc. had an annual average earning growth of 21.4% over the past 10 years. GuruFocus rated Lowe's Companies Inc. the business predictability rank of 5-star.
Soros owns 579,900 shares as of 06/30/2009, a decrease of 89.19% of from the previous quarter. This position accounts for 0.43% of the $2.61 billion portfolio of Soros Fund Management LLC. Again Soros is exiting his position in this retailer.
Buffett owns 6,500,000 shares as of 06/30/2009, which accounts for 0.26% of the $48.95 billion portfolio of Berkshire Hathaway.
NRG Energy Inc. (NRG, Financial)
NRG Energy Inc owns and operates a diverse portfolio of power-generating facilities primarily in the United States. Its operations include baseload intermediate peaking and cogeneration facilities thermal energy production and energy resource recovery facilities. Nrg Energy Inc. has a market cap of $7.24 billion; its shares were traded at around $27.29 with a P/E ratio of 8.9 and P/S ratio of 1.1. Nrg Energy Inc. had an annual average earning growth of 25.9% over the past 5 years.
George Soros owns 15,023 shares as of 06/30/2009, a decrease of 97.06% of from the previous quarter. This position accounts for 0.01% of the $2.61 billion portfolio of Soros Fund Management LLC.
Warren Buffett owns 7,200,000 shares as of 06/30/2009, which accounts for 0.38% of the $48.95 billion portfolio of Berkshire Hathaway.
The Home Depot Inc. (HD, Financial)
Home Depot is the one of world's largest home improvement retailer. The company offers a level of service unprecedented among warehouse-style retailers. Home Depot stores cater to do-it-yourselfers as well as home improvement construction and building maintenance professionals. The Home Depot currently operates in the USA Canada Chile Puerto Rico and Argentina. The company also operates EXPO Design Centers across the U.S. and Villager's Hardware in New Jersey. The Home Depot Inc. has a market cap of $46.86 billion; its shares were traded at around $27.51 with a P/E ratio of 16.6 and P/S ratio of 0.7. The dividend yield of The Home Depot Inc. stocks is 3.3%. The Home Depot Inc. had an annual average earning growth of 19.5% over the past 10 years. GuruFocus rated The Home Depot Inc. the business predictability rank of 5-star.
Soros owns 190,500 shares as of 06/30/2009, a decrease of 95.15% of from the previous quarter. This position accounts for 0.17% of the $2.61 billion portfolio of Soros Fund Management LLC.Again, Soros is on his way out of this stock.
Buffett owns 2,757,898 shares as of 06/30/2009, a decrease of 25.46% of from the previous quarter. This position accounts for 0.13% of the $48.95 billion portfolio of Berkshire Hathaway. Buffett also has been selling this stock.
Conclusion
Soros is on his way out of several of the stocks that are also owned by Buffett, especially several retail stocks (WMT, LOW, and HD). Since George Soros is a trader, that should not be surprising.
GuruFocus provides real time information and insights of Investment Gurus such as Warren Buffett and David Einhorn for Premium Members. GuruFocus Aggregated Guru Portfolios Screen is just one example of many tools available for investors to generate ideas..
If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.
