Billionaire George Soros’s investment firm snapped up shares of ViacomCBS, Discovery and Baidu as they were being sold off in massive blocks during the collapse of Bill Hwang’s Archegos Capital Management.
Soros Fund Management bought $194 million of ViacomCBS Inc., Baidu Inc. stock valued at $77 million, as well $46 million of Vipshop Holdings Ltd. and $34 million of Tencent Music Entertainment Group during the first quarter, according to a regulatory filing released Friday. A person familiar with the fund’s trading said the company didn’t hold the shares prior to Archegos’s implosion.
Soros also increased its bet on Amazon.com Inc. and homebuilder DR Horton Inc., which is now its second-largest public equity position.
The 13F, which money managers overseeing more than $100 million in U.S. equities must file quarterly, revealed that Soros held $4.5 billion of U.S. equities, down $77 million from the prior quarter.
The biggest exit in the quarter was Palantir Technologies Inc. Soros sold 18.5 million shares valued at about $435 million. The firm originally revealed it owned a stake in the controversial data-mining company controlled by Peter Thiel in November, but rapidly issued a statement saying the original investment was made in 2012 and it regretted the decision.
*SOROS FUND MANAGEMENT CUTS SHARE STAKE IN UBER TEHCNOLOGIES BY 79.5% TO 31,406 SHARES – SEC FILING
*SOROS FUND MANAGEMENT DISSOLVES SHARE STAKE IN PALANTIR TECHNOLOGIES INC – SEC FILING
*SOROS FUND MANAGEMENT DISSOLVES SHARE STAKE IN NORTONLIFELOCK INC – SEC FILING
*SOROS FUND MANAGEMENT UPS SHARE STAKE IN GENERAL MOTORS BY 49.5% to 655,002 SHARES – SEC FILING
*SOROS FUND MANAGEMENT DISSOLVES SHARE STAKE IN DISH NETWORK – SEC FILING
Source for the quarter ended March 31, 2021: www.sec.gov/Archives/edgar/data/1029160/000090266421002758/0000902664-21-002758-index.htm
Source for the quarter ended December 31, 2020: www.sec.gov/Archives/edgar/data/1029160/000090266421001434/0000902664-21-001434-index.htm