Surveying the latest stock transactions of billionaire George Soros, observers would have to surmise tech stocks are in and financial stocks — not to mention some industrials — are out. Soros went even bigger on Google (NASDAQ:GOOG) and bought into Netflix (NASDAQ:NFLX), Qualcomm (NASDAQ:QCOM) and LinkedIn (NYSE:LNKD), according to filings detailing his fund’s activity.
Soros’s buying and selling activity is always of note, and he proved yet again he’s into Google for the long term. For a stock that continues growing, Google has the distinct advantage in that employees believe the company is going to continue innovating. Google topped the lit of companies with the “Best Business Outlook in the Next 6 Months,” a survey taken by Glassdoor.com. Perhaps not coindientally, Qualcomm came in second on the same list.
The introduction of LinkedIn and Netflix to the Soros portfolio marks a substantial increase in the billionaire’s tech holdings. All told, the technology sector constitutes over 16 percent of Soros’s portfolio while the number of financial services stocks slipped to just 2.3 percent. The Soros fund sold holdings in Citigroup (NYSE:C) and AIG (NYSE:AIG), along with its entire holdings of General Motors (NYSE:GM).
Soros proved he’s not finished with the manufacturing sector, as he bought shares of Boeing (NYSE:BA) for the first time. The company’s recent maneuvering through the Dreamliner problems — not to mention its increased production pace — have been attracting investors from all sides. Soros is on board with a company that has its aircraft production schedule booked until nearly the end of the decade and has only one major competitor worldwide. Viking Global recently bought over 12 million shares of Boeing.
Surveying Soros’s other notable buys, LinkedIn has continued its run as the best performing social media stock. In contrast to Facebook (NASDAQ:FB), LinkedIn has found a way to grow revenue without total dependence on advertising. The company survived the recession and its job-centric focus, and now LinkedIn could be the vehicle for job seekers to upgrade positions as they grow comfortable with the site.
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