George Soros Sells Dow Chemical, Delta Air Lines

The guru's top sales during the 1st quarter

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Jun 06, 2016
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George Soros (Trades, Portfolio) is known for the unmatched success of his Quantum Fund. A hedge fund guru, he is recognized for having the best performance record of any investment fund in the world over its 26-year history. During the first quarter he sold his shares in the following stocks.

The guru almost closed his stake in Synchrony Financial (SYF) reducing its shares by a 94.94% with an impact of -3.83% on the portfolio.

The company provides credit products through programs established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and health care service providers.

During the last quarter total platform revenue increased 13% from the first quarter of 2015, and purchase volume increased 17% from the same quarter of a year before.

GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 18.52% and ROA of 2.85% that are outperforming 56% of the companies in the Global Credit Services industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.61.

First Eagle Investment (Trades, Portfolio) is the largest shareholder of the company among the gurus with 1.39% of outstanding shares followed by David Tepper (Trades, Portfolio) with 0.6%, Pioneer Investments (Trades, Portfolio) with 0.46%, Jim Simons (Trades, Portfolio) with 0.3% and Leon Cooperman (Trades, Portfolio) with 0.26%.

The investor exited his stake in Level 3 Communications Inc. (LVLT) with an impact of -3.22% on the portfolio.

The company is a facilities-based provider of a broad range of integrated communications services.

During the last quarter it grew core network services revenue by 3.6% year over year and adjusted EBITDA growth of 15% from the same quarter of a year before.

GuruFocus gives the stock a profitability and growth rating of 4 out of 10 with ROE of 42.11% and ROA of 15.30% that are outperforming 92% of the companies in the Global Telecom Services industry. Financial strength has a rating of 6 out of 10 with cash to debt of 0.09 that is below the industry median of 0.50.

The largest shareholder among the gurus is Mason Hawkins (Trades, Portfolio) with 8.38% of outstanding shares followed by Simons with 0.14%, Joel Greenblatt (Trades, Portfolio) with 0.12% and Ray Dalio (Trades, Portfolio) with 0.01%.

The guru closed his stake in Dow Chemical Co. (DOW) with an impact of -3% on the portfolio.

The company operates in five segments: Agricultural Sciences, Consumer Solutions, Infrastructure Solutions, Performance Materials & Chemicals and Performance Plastics.

First-quarter sales decreased 13% year over year and operating EBITDA margin expanded from 19% to 21%.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 25.26% and ROA of 9.41% that are outperforming 80% of the companies in the Global Chemicals industry. Financial strength has a rating of 7 out of 10 with cash to debt of 0.39 that is below the industry median of 0.80.

Daniel Loeb (Trades, Portfolio) is the company's largest shareholder among the gurus with 2.23% of outstanding shares followed by Larry Robbins (Trades, Portfolio) with 0.64%, Pioneer Investments (Trades, Portfolio) with 0.23%, Cooperman with 0.2% and PRIMECAP Management (Trades, Portfolio) with 0.14%.

The investor reduced his shares in Cypress Semiconductor Corp. (CY) by 98.68% with an impact of -2.95% on the portfolio.

The company with its subsidiaries designs, develops, manufactures and markets high-performance, mixed-signal, programmable solutions that provide customers with rapid time-to-market and system value.

First-quarter revenue declined 6.8% sequentially, and gross margin was 36.9% above guidance.

GuruFocus gives the stock a profitability and growth rating of 4 out of 10 with ROE of -8.59% and ROA of -5.85% that are underperforming 79% of the companies in the Global Semiconductors industry. Financial strength has a rating of 6 out of 10 with cash to debt of 0.11 that is below the industry median of 2.07.

The largest shareholder among the gurus is Richard Snow (Trades, Portfolio) with 0.92% of outstanding shares followed by Mario Gabelli (Trades, Portfolio) with 0.79%, Chuck Royce (Trades, Portfolio) with 0.22%, Simons with 0.15%, John Keeley (Trades, Portfolio) with 0.09% and Soros with 0.07%.

The guru reduced his shares in Adecoagro SAĂ‚ (AGRO) by 46.11% with an impact of -2.73% on the portfolio.

The company is an agricultural company in South America with operations in Argentina, Brazil and Uruguay. Its activities include farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production.

First-quarter adjusted EBITDA grew 113.0% from the same quarter of a year before and adjusted EBITDA margin reached 36.9% compared to 18.5% in the first quarter of 2015.

GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 0.99% and ROA of 0.39% that are outperforming 72% of the companies in the Global Farm Products industry. Financial strength has a rating of 7 out of 10 with cash to debt of 0.28 that is below the industry median of 0.68.

Charles Brandes (Trades, Portfolio) is the company's second-largest shareholder among the gurus with 1.72% of outstanding shares followed by Simons with 1.14%, Manning & Napier Advisors Inc. with 0.87%, Caxton Associates (Trades, Portfolio) with 0.3% and Jeremy Grantham (Trades, Portfolio) with 0.2%.

The investor exited his stake in Endo International PLCĂ‚ (ENDP) with an impact of -2.46% on the portfolio.

The company is a specialty health care company engaged in developing, manufacturing, marketing and distributing branded pharmaceutical and generic products as well as medical devices.

Adjusted income from continuing operations grew 16% from the first quarter of 2015 and diluted loss per share from continuing operations of 40 cents compared to first-quarter 2015 reported diluted earnings per share from continuing operations of 85 cents.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of -27.17% and ROA of -8.65% that are underperforming 82% of the companies in the Global Drug Manufacturers - Specialty & Generic industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.03 that is below the industry median of 4.00.

The largest shareholder among the gurus is John Paulson (Trades, Portfolio) with 4.27% of outstanding shares followed by Andreas Halvorsen (Trades, Portfolio) with 2.01%, RS Investment Management (Trades, Portfolio) with 0.61%, Wallace Weitz (Trades, Portfolio) with 0.43%, Simons with 0.26%, Steven Cohen (Trades, Portfolio) with 0.1% and Pioneer Investments (Trades, Portfolio) with 0.06%.

The guru exited his stake in Delta Air Lines Inc. (DAL) with an impact of -1.87% on the portfolio.

The company provides scheduled air transportation for passengers and cargo throughout the U.S. and around the world. Its business segments are airline and refinery.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 46.28% and ROA of 8.86% that are outperforming 71% of the companies in the Global Airlines industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.35 that is below the industry median of 0.44.

PRIMECAP Management (Trades, Portfolio) is the company's largest shareholder among the gurus with 2.48% of outstanding shares followed by Tepper with 0.11%, First Eagle Investment (Trades, Portfolio) with 0.39%, Alan Fournier (Trades, Portfolio) with 0.22% and Simons with 0.16%.

The investor almost closed his stake in LyondellBasell Industries NVĂ‚ (LYB) with a decrease of 99.67% with an impact of -1.41% on the portfolio.

The company produces polypropylene and polypropylene compounds, propylene oxide, polyethylene, ethylene and propylene. It also provides technology licenses.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 60.91% and ROA of 18.25% that are outperforming 95% of the companies in the Global Specialty Chemicals industry. Financial strength has a rating of 6 out of 10 with cash to debt of 0.29 that is below the industry median of 0.80.

The largest shareholder among the gurus is First Eagle Investment (Trades, Portfolio) with 0.37% of outstanding shares followed by Pioneer Investments (Trades, Portfolio) with 0.25%, Grantham with 0.19%, Barrow, Hanley, Mewhinney & Strauss with 0.15%, RS Investment Management (Trades, Portfolio) with 0.08%, Halvorsen with 0.07% and Cohen with 0.02%.

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