FAST FIVE: Soros Bought $375MM Of The Shares That Archegos Was Liquidating

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These were Soros' holdings as of March 31, or just day after the Archegos liquidation began in earnest: ViacomCBS $194.3MM (4.31MM shares) Baidu $77MM (353.8K shares) Tencent $46.4MM (1.55MM shares) Discovery Class C $14.8MM (400K shares) DIscovery Class A $8.7MM (200K shares) A look at the prior 13F shows that the fund did not own any of these stocks before the end of the first quarter.

As Bloomberg,  which was the first to note the increase in Archegos-linked positions at Soros notes, “the 13F filing provides one of the first examples of how a hedge fund attempted to capitalize on the distressed remains of Archegos.

Separately, the latest 13F also shows that Soros increased its bet in Amazon.com and homebuilder DR Horton Inc., which is now its second-largest public equity position; in total the filing showed that Soros held $4.5 billion of US equities, down $77 million from the prior quarter.

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.

Categories: ZH