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Soros Fund Management LLC is one of the most successful and high-profile hedge funds managed by billionaire hedge fund manager George Soros. Soros returned an average of 30.5% per year between 1969 and 2000. More recently in 2007, 2008, and 2009, his fund generated 32%, 8% and 29% return respectively for the investors.

I discussed top stocks where George Soros is decreasing his positions in a previous article. In addition, it is also interesting to look at stocks where Soros Fund Management LLC completely exited its positions. The following is a list of top stocks where Soros Fund Management LLC completely exited its position in the last quarter.

Stock

Symbol

Shares Held - 03/31/2011

Shares Held - 06/30/2011

Change in shares

Google Inc.

GOOG

116,208

0

-116,208

Coach Inc.

COH

875,737

0

-875,737

Novagold Resources Inc.

NG

3,492,100

0

-3,492,100

Power-One Inc.

PWER

2,835,450

0

-2,835,450

Tenet Healthcare Corp.

THC

3,300,000

0

-3,300,000

Covanta Holding Corporation

CVA

1,048,508

0

-1,048,508

United Continental Holdings

UAL

785,800

0

-785,800

source: 13F filing.

One stock, where I don’t agree with Soros Fund Management and would like to go long on is Tenet Healthcare Corp. Tenet Healthcare Corporation operates in one line of business: The provision of health care services through the operation of acute care hospitals and related health care facilities. Its business includes inpatient care, intensive care, cardiac care, radiology services and emergency medical treatment. THC's EPS forecast for the current year is $0.44 and next year is $0.51. According to consensus estimates, its top line is expected to grow 5.30% in the current year and 4.00% next year.

Tenet Healthcare is seeing incremental signs of improvement in its business. Tenet reported inline results for the last quarter. However, the interesting thing was trends improved throughout the quarter. Volume was weakest in April and improved in May and June. July volumes were better than June volumes, according to management commentary. Historically, Q3 is a weaker quarter than Q2. However, for the current year Q3 volumes are expected to be better than Q2 volumes. Trading at ~10x forward EPS, I believe Tenet is a good value buy with improving earnings trends likely to serve as catalyst going forward.

For other stocks in the above list, here are some of the specifics about these companies, including a brief description of their businesses, growth expectations (top line and bottom line):

Google Inc. focuses on areas, such as search, advertising, operating systems and platforms, and enterprise. The Company maintains an index of Websites and other online content, and make it available through its search engine to anyone with an Internet connection. The Company generates revenue primarily by delivering targeted online advertising. Google’s stock price has lost its sheen and is on a downward trend after the recent hype about Google Plus failed to translate in sustainable trend.

Google's EPS forecast for the current year is $31 and next year is $37.14. According to consensus estimates, its top line is expected to grow 30.20% in the current year and 22.00% next year. Google failure to successfully address increasing threat from Facebook has been the main cause worry among its shareholders.

Coach, Inc. is a marketer of fine accessories and gifts for women and men. Coach’s product offerings include handbags, women’s and men’s accessories, footwear, business cases, jewelry, wearable, sun-wear, travel bags, fragrance and watches.

Coach operates in two business segments: Direct-to-consumer and indirect. Coach's EPS forecast for the current year is $3.39 and next year is $3.91. According to consensus estimates, its top line is expected to grow 12.40% in the current year and 11.20% next year.

NovaGold Resources Inc. is a precious metals company engaged in the exploration and development of mineral properties situated principally in Alaska, the United States of America and British Columbia, Canada. NovaGold's EPS forecast for the current year is -$0.08 and next year is -$0.27.

Power-One, Inc. is a designer and manufacturer of inverters for the renewable energy industry. Power-One's EPS forecast for the current year is $0.91 and next year is $1.05. According to consensus estimates, its top line is expected to grow 3.20% in the current year and 12.30% next year.

Covanta Holding Corporation is an owner and operator of infrastructure for the conversion of waste to energy (known as energy-from-waste (EFW)). It is also involved in other waste disposal and renewable energy production businesses. Covanta's EPS forecast for the current year is $0.50 and next year is $0.59. According to consensus estimates, its top line is expected to grow 1.50% in the current year and 1.90% next year.

United Continental Holdings, Inc. is a holding company and it operates through its wholly owned subsidiaries: United Air Lines, Inc. United and Continental Airlines, Inc. Continental. United and Continental transport people and cargo through their mainline operations, which utilize full-sized jet aircraft, and regional operations, which utilize smaller aircraft that are operated under contract by United Express, Continental Express and Continental Connection carriers. UAL's EPS forecast for the current year is $3.46 and next year is $5.00. According to consensus estimates, its top line is expected to grow 8.20% in the current year and 4.90% next year.

Source: George Soros Completely Exited These 7 Top Stocks Last Quarter