Tags: soros | netflix | herbalife | wynn resorts

Soros Buys Stakes in Netflix, Wynn Resorts, Dumps Herbalife

Soros Buys Stakes in Netflix, Wynn Resorts, Dumps Herbalife
George Soros

Tuesday, 17 November 2015 07:31 AM

Soros Fund Management, which manages the investments of billionaire George Soros and his family, took new stakes in video streaming company Netflix Inc. and casino operator Wynn Resorts Ltd. during the third quarter.

The fund also dissolved its stakes in the Market Vectors Gold Miners exchange-traded fund as well as Barrick Gold Corp. in the third quarter of 2015. The fund's stake in Gold Miners was valued at $13.5 million at the end of June and $20.1 million in Barrick Gold, the second-quarter 13F-HR filing showed.

The changes were disclosed in a U.S. Securities and Exchange Commission filing on Monday that detailed Soros' investments as of Sept. 30.

Soros said it owned 317,534 Netflix shares worth $32.79 million as of that date, and 187,103 Wynn shares worth $9.9 million.

The firm also took a 77,877 share stake worth $39.9 million in online retailer Amazon.com Inc and a 4.43 million share stake worth $137.5 million in electronic payments provider PayPal Holdings Inc.

Soros shed stakes during the quarter in two companies that have been under fire: 1,968,833 shares of weight loss and nutritional products company Herbalife Ltd, and 1,302,512 shares of airline United Continental Holdings Inc .

Herbalife has for nearly three years fended off claims by hedge fund manager William Ackman, who is shorting its stock, that it is a pyramid scheme.

Meanwhile, United Chief Executive Jeff Smisek resigned in September amid probes into the carrier's relationship with the Port Authority of New York and New Jersey, and his successor Oscar Munoz suffered a heart attack.

Monday's filing also detailed dozens of other changes in Soros' investments during the third quarter.

© 2019 Thomson/Reuters. All rights reserved.

   
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Soros Fund Management, which manages the investments of billionaire George Soros and his family, took new stakes in video streaming company Netflix and casino operator Wynn Resorts during the third quarter.
soros, netflix, herbalife, wynn resorts
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2015-31-17
Tuesday, 17 November 2015 07:31 AM
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