One method of investing is to follow stock gurus and you would be hard pressed to find one better than George Soros. He is one of the best known investors of this generation, having generated an annual return of 32% while leading the Quantum Fund. His fund Soros Management Fund, LLC recently filed its Holdings Report and I reviewed his latest holdings using I-Metrix from Edgar Online.
The fund increased and/or initiated positions in several companies during the 1st quarter of this year. In this article, I will present a list of 10 such companies whose share prices are below the projected price Mr. Soros might have paid during the last quarter.
Freeport-McMoran Copper & Gold Inc. (FCX)
Soros initiated a position in FCX during the last quarter by purchasing 301,300 shares at a predicted price of $54.4. During the last quarter, the stock traded in the range of $46.2 to $61.3. As of May 23, 2011, the stock was trading at $47.4 translating into a discount of 13% from the average calculated price paid by Soros.
Flowserve Corporation (FLS)
Soros added to his existing position in FLS by purchasing 89,200 shares in the last quarter for a total share count of 177,700. The average price for FLS during the last quarter of $124.1 is greater than its current price of $116.57 by approximately 6%. The shares traded in the range of $112.2 to $133.9 during the last quarter.
Soros doubled his position in GOOG in the last quarter by purchasing 53,528 shares at a projected price of $603.6. This compares favorably to yesterday’s closing price of $518.39. During the last quarter, the shares traded between $551.1 and $643.
Harvest Natural Resources (HNR)
HNR has traded in a wide range of $10.5 to $17.5 with an average price of $13.3. Soros added 1.3 million shares for a total holding of 2.4 million shares during the last quarter. At its current price of $11.17, the stock is trading at a discount 16% from last quarter’s average price.
Hospira, Inc (HSP)
Soros more than doubled his position in HSP by purchasing 497,703 shares at a predicted price of $54.1. At its current price of $53.98, the stock can be bought at approximately the same price as that paid by Soros. In the last quarter, the stock traded in the range of $49.5 to $57.3.
Petroleo Brasileiro SA (PBR)
Soros added 521,700 PBR shares to his portfolio for a total of 1.1 million PBR shares. During the last quarter, PBR traded in between $34.9 and $42.8 and at an average price of $38.4. The stock currently trades at $33.35 implying a discount of 13% from the projected price paid by Soros.
Potash Corp of Saskatchewan (POT)
Soros acquired 169,325 shares during the last quarter at an average calculated price of $57.7. Soros owned 184,325 shares as of March 31, 2011. The stock traded in the range of $50.3 and $64 and currently trades at $53.15.
URS Corp (URS)
Soros purchased 736,387 shares of URS in the last quarter and now owns approximately 1.1 million shares. The stock currently trades at $42.97 compared with last quarter’s average price of $44.5. The stock traded between $39.6 and $47.7 during the last quarter.
Weatherford International (WFT)
Weatherford International currently trades at $19.51 compared with last quarter’s average price of $22.7. Soros purchased approximately 1.8 million shares during the last quarter.
Wabash National Corporation (WNC)
Soros initiated a position in WNC during the last quarter, buying 1.9 million shares at a predicted price of $11.3. The stock is trending lower and currently trades at $8.86. The stock has traded in a range from $9.9 to $13.2 during the last quarter.
As always, please do not consider this list as a “buy” list, rather use this list as a starting point for your research. Of the companies listed above, I find POT, WNC and FCX particularly attractive based on fundamentals and growth prospects.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.