Soros Fund Management starts new positions in MSFT, FDX, TEVA, HAL, Sells DAL, UAL – 13F Flash (D)

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Soros Fund Management's new trades in Q313 (Part 4 of 6)

(Continued from Part 3)

Soros Fund Management is a large private fund run by the legendary team of famed investor George Soros. In Q3 2013, it started new positions in Microsoft Corp. (MSFT), Fedex Corp. (FDX), Teva Pharmaceuticals (TEVA), and Halliburton (HAL), and sold Delta Airlines (DAL) and United Continental Holdings (UAL).

Abbreviated financial summaries and metrics for these securities are included below. Detailed analysis and recommendations require a subscription (more information at the bottom of the article).

Why purchase Halliburton (HAL)?

Oilfield services companies like Halliburton are benefitting from the opportunities arising out of the efforts of oil and gas companies to increase productivity of U.S. oil wells. The company recently announced that its board of directors has approved a 20 percent increase in its quarterly dividend. The dividend and share repurchase announcements reflect the company’s confidence regarding its business outlook and commitment to deliver consistent returns to shareholders. In September, the company launched software CYPHER, a Seismic-to-Stimulation service that will help increase production and reduce uncertainty. The product will effectively help the company drill and complete wells and give it an advantage in the U.S. market.

Halliburton Company is a provider of services and products to the energy industry related to the exploration, development, and production of oil and natural gas. The company serves the upstream oil and gas industry throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Halliburton comprises 13 product service lines (PSLs). The PSLs operate in two divisions: Drilling and Evaluation, and Completion and Production. Its Consulting and Project Management PSL works across both divisions and is the spearhead of our integrated-services strategy. Its financial results are included in the Drilling and Evaluation Division. PSLs are primarily responsible and accountable for strategy, technology development, process development, people development and capital allocation. Halliburton has significant manufacturing operations in various locations, including the United States, Canada, Malaysia, Mexico, Singapore, and the United Kingdom. Competitors include Schlumberger (SLB), Baker Hughes (BHI), and Weatherford International (WFT).

Soros Fund Management was formerly a famed global macro hedge fund run by George Soros, a multi-billionaire investor, who is famous for betting against the British pound earlier in his career. The fund was started in 1969 and in 2010 was reported to be one of the most profitable hedge funds in history, earning over 20% annual returns over 40+ years. The firm formerly was the adviser to the famous Quantum group of funds, but now is private.

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