Tags: george soros | Level 3 | Herbalife | Consol

Soros Adds Level 3, Cuts Herbalife, Exits Consol in 3rd Quarter

Saturday, 15 Nov 2014 07:46 AM

Soros Fund Management LLC boosted holdings in Level 3 Communications Inc., reduced its stake in Herbalife Ltd. and exited Consol Energy Inc. in the third quarter.

The New York-based family office of billionaire hedge fund manager George Soros added 3.64 million shares of Level 3, according to a quarterly filing with the Securities and Exchange Commission. The value of Soros’ stake tripled to $248.2 million as of Sept. 30, the biggest jump in the firm’s U.S. stock holdings during the quarter. The firm also added 2.92 million shares of Dow Chemical Co. bringing the market value of its stake to $153.1 million.

Soros cut its investment in Herbalife by 2.85 million shares. The value of its stake declined by 73 percent to $82.6 million, the biggest decrease. Herbalife is the fund’s 31st-biggest holding, according to the 13F filing.

The firm’s $234.4 million investment in Consol was liquidated as Soros sold 5.1 million shares, the firm’s biggest selloff during the quarter. It also exited Halliburton Co.

Soros’ equity holdings declined 2.6 percent to $10.1 billion. It owned shares in 234 companies at the end of the quarter and 69 of them were new, according to the filing. New investments were led by Alibaba Group Holding Ltd., Yahoo Inc. and Travelport Worldwide Ltd.

Money managers who oversee more than $100 million in equities in the U.S. must file a Form 13F within 45 days of each quarter’s end to list those stocks as well as options and convertible bonds. The filings don’t show non-U.S. securities, holdings that aren’t publicly traded, or cash.

© Copyright 2017 Bloomberg News. All rights reserved.

 
1Like our page
2Share
InvestingAnalysis
Soros Fund Management LLC boosted holdings in Level 3 Communications Inc., reduced its stake in Herbalife Ltd. and exited Consol Energy Inc. in the third quarter.
george soros, Level 3, Herbalife, Consol
260
2014-46-15
Saturday, 15 Nov 2014 07:46 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved