George Soros (Trades, Portfolio), chairman of Soros Fund Management LLC, made 47 reductions in the third quarter. A hedge fund guru, his Quantum Fund is recognized for having the best performance record of any investment fund in the world.
The following are Soros' largest reductions during the third quarter.
The guru reduced his stake in LyondellBasell Industries NVĂ‚ (LYB) by 89.92% with an impact of -1.72% on the portfolio. The current stake is 0.26% of his total assets.
GuruFocus gives LyondellBasell Industries a profitability and growth rating of 7 out of 10 with strong returns of ROE 54.51% and ROA 18.27% that are outperforming 95% of the companies in the Global Specialty Chemicals industry. Financial strength has a rating of 6 out of 10 with a cash-to-debt of 0.37 that is slightly below the industry median of 0.44.
The company is an independent chemical company. Its operations are managed through five operating segments: Olefins and Polyolefins-Americas, Olefins and Polyolefins-Europe, Asia and International, Intermediates and Derivatives, Refining and Technology. During the third quarter it repurchased 15.5 million shares during the quarter or approximately 3.3% of the outstanding shares. The fourth quarter reflects a more balanced global ethylene industry.
Andreas Halvorsen (Trades, Portfolio) is the company's largest shareholder among the gurus with 3.01% of outstanding shares followed by First Eagle Investment (Trades, Portfolio) with 0.81%, Jim Simons (Trades, Portfolio) with 0.14% and Leon Cooperman (Trades, Portfolio) with 0.09%.
He reduced his stake in Time Warner Cable Inc. (TWC) by 51.70% with an impact of -1.39% on the portfolio. The current stake is 2.16% of his total assets and 0.25% of the company’s outstanding shares.
GuruFocus gives Time Warner Cable a profitability and growth rating of 8 out of 10 with easy returns of ROE 23.09% and ROA 3.93% that are outperforming 58% of the companies in the Global Pay TV industry. Financial strength has a rating of 6 out of 10 with a cash-to-debt of 0.02 that is below the industry median of 0.41.
The company provides video, high-speed data and voice services in five geographic areas: New York state, the Carolinas, the Midwest, Southern California and Texas. During the third quarter revenue grew by 3.6% from the same quarter of a year before and adjusted OIBDA had a growth of 3.6%.
Time Warner Cable’s largest shareholder among the gurus is Dodge & Cox with 6.87% of outstanding shares followed by John Paulson (Trades, Portfolio) with 2.87%, Jana Partners (Trades, Portfolio) with 0.83% and Daniel Loeb (Trades, Portfolio) with 0.46%.
Soros reduced his stake in Facebook Inc. (FB) by 30.31% with an impact of -0.7% on the portfolio. The current stake is 2.78% of his total assets and 0.06% of the company’s outstanding shares.
GuruFocus gives Facebook a profitability and growth rating of 7 out of 10 with easy returns of ROE 9.28% and ROA 0.88% that are outperforming 55% of the companies in the Global Internet Content & Information industry. Financial strength has a rating of 8 out of 10 with a strong cash-to-debt of 125.67 that is far above the industry median of 13.91.
The company is a social networking website that builds products that create utility for users, developers and advertisers. It had a good quarter and got a lot done; net income and diluted EPS grew by 11% and 3% from the same quarter of a year before.
Frank Sands (Trades, Portfolio) is the company's largest shareholder among the gurus with 0.89% of outstanding shares followed by Steve Mandel (Trades, Portfolio) with 0.38%, Stanley Druckenmiller (Trades, Portfolio) with 0.14% and John Griffin (Trades, Portfolio) with 0.11%.
He reduced his stake in Monsanto Co. (MON) by 54.49% with an impact of -0.7% on the portfolio. The current stake is 0.77% of his total assets and 0.12% of the company’s outstanding shares.
GuruFocus gives Monsanto a profitability and growth rating of 8 out of 10 with strong returns of ROE 30.23% and ROA 10.34% that are outperforming 87% of the companies in the Global Agricultural Inputs industry. Financial strength has a rating of 7 out of 10 with a cash-to-debt of 0.41 that is slightly above the industry median of 0.32.
The company is a provider of agricultural products for farmers. It offers corn, soybean, cotton, wheat, canola, sorghum and sugar cane seeds. Its segments are Seeds and Genomics and Agricultural Productivity.
The company's largest shareholder among the gurus is Larry Robbins (Trades, Portfolio) with 3.07% of outstanding shares followed by Frank Sands (Trades, Portfolio) with 2.81%, PRIMECAP Management (Trades, Portfolio) with 2.7% and Chris Davis (Trades, Portfolio) with 1.68%.
The guru reduced his stake in EQT Corp. (EQT) by 87.51% with an impact of -0.57% on the portfolio. The current stake is 0.11% of his total assets.
GuruFocus gives EQT a profitability and growth rating of 7 out of 10 with easy returns of ROE 9.28% and ROA 0.88% that are outperforming 79% of the companies in the Global Oil & Gas E&P industry. Financial strength has a rating of 7 out of 10 with a cash-to-debt of 0.50 that is slightly above the industry median of 0.41.
The company conducts its business through two business segments, EQT Production and EQT Midstream. The EQT Production is one of the natural gas producers in the Appalachian Basin with proved natural gas, NGLs and crude oil reserves in the Marcellus play. During the third quarter production sales volume was 27% higher, midstream net revenue was 17% higher, and realized natural gas price was 42% lower.
Steven Cohen (Trades, Portfolio) is the company's largest shareholder among the gurus with 0.56% of outstanding shares followed by Pioneer Investments (Trades, Portfolio) with 0.19%, Soros with 0.06% and Ray Dalio (Trades, Portfolio) with 0.03%.
Soros reduced his stake in Dow Chemical Co. (DOW) by 19.36% with an impact of -0.5% on the portfolio. The current stake is 2.84% of his total assets.
GuruFocus gives Dow Chemical a profitability and growth rating of 7 out of 10 with easy returns of ROE 19.23% and ROA 7.08% that are outperforming 72% of the companies in the Global Chemicals industry. Financial strength has a rating of 7 out of 10 with a positive cash-to-debt of 0.39 that is slightly below the industry median of 0.44.
The company is an integrated science and technology company. It operates in five segments: Agricultural Sciences, Consumer Solutions, Infrastructure Solutions, Performance Materials & Chemicals and Performance Plastics. During the third quarter earnings per share grew 14% versus the year-ago period, and cash from operations increased $41 compared to 3Q14
The company’s largest shareholder among the gurus is Daniel Loeb (Trades, Portfolio) with 2.03% of outstanding shares followed by Larry Robbins (Trades, Portfolio) with 0.63%, Soros with 0.34% and Leon Cooperman (Trades, Portfolio) with 0.24%.
The guru reduced his stake in Realogy Holdings Corp. (RLGY) by 90.99% with an impact of -0.48% on the portfolio. The current stake is 0.06% of his total assets and 0.03% of the company’s outstanding shares.
GuruFocus gives Realogy Holdings a profitability and growth rating of 7 out of 10 with weak returns of ROE 8.79% and ROA 2.55% that are underperforming 58% of the companies in the Global Real Estate Services industry. Financial strength has a rating of 5 out of 10 with a positive cash-to-debt of 0.13 that is below the industry median of 0.28.
The company is a provider of residential real estate services in the U.S. It is a franchiser of residential brokerages in the real estate industry.
John Paulson (Trades, Portfolio) is the company's largest shareholder among the gurus with 4.8% of outstanding shares followed by Larry Robbins (Trades, Portfolio) with 4.31%, Manning & Napier Advisors Inc. with 3.18% and Alan Fournier (Trades, Portfolio) with 2.36%.
He reduced his stake in Western Refining Inc. (WNR) by 68.41% with an impact of -0.48% on the portfolio. The current stake is 0.37% of his total assets.
GuruFocus gives Western Refining a profitability and growth rating of 7 out of 10 with strong returns of ROE 39.02% and ROA 9.00% that are outperforming 81% of the companies in the Global Oil & Gas Refining & Marketing industry. Financial strength has a rating of 7 out of 10 with a positive cash-to-debt of 0.45 that is slightly above the industry median of 0.41.
The company is a crude oil refiner and marketer of refined products. It operates five business segments: the refining group, the wholesale group, the retail group, WNRL and NTI.
The company's largest shareholder among the gurus is Soros with 0.52% of outstanding shares followed by Steven Cohen (Trades, Portfolio) with 0.48%, Jim Simons (Trades, Portfolio) with 0.29% and James Barrow (Trades, Portfolio) with 0.08%.
