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NEW YORK (Reuters) – Soros Fund Management LLC added Facebook Inc (FB.O), Apple Inc (AAPL.O) and Twitter Inc (TWTR.N), but trimmed stakes in Alphabet Inc (GOOGL.O) and Amazon.com Inc (AMZN.O) in the quarter through June, according to a regulatory filing on Tuesday.
Billionaire hedge fund manager George Soros speaks during a discussion at the Clinton Global Initiative’s annual meeting in New York, September 27, 2015. REUTERS/Brendan McDermid/File Photo
The family office of billionaire George Soros also bought stakes in AT&T Inc (T.N), Chevron Corp (CVX.N) and T-Mobile US Inc (TMUS.O) and divested stakes in eBay Inc (EBAY.O), Nvidia Corp (NVDA.O), Snap Inc (SNAP.N) and Paypal Holdings Inc (PYPL.O).
Soros Fund Management also dramatically boosted its shares in BlackRock Inc (BLK.N) – the world’s largest asset management firm, overseeing $ 6 trillion – by nearly 60 percent to 12,983 total shares in the second quarter.
Other notable adjustments included paring stakes in Netflix Inc (NFLX.O), Citigroup Inc (C.N) and Wells Fargo & Co (WFC.N), but raising its shares of Pandora Media Inc (P.N) and Salesforce.com Inc (CRM.N).
Soros Fund Management took share stakes in Facebook of 159,200 class A shares during the second quarter and 54,500 shares in Apple.
A number of prominent fund managers sharply cut their holdings in Apple only weeks before it became the first publicly-traded U.S. company to be worth more than $ 1 trillion.
Einhorn’s Greenlight Capital slashed its stake by 77 percent, while Philippe Laffont’s Coatue Management unloaded 95 percent. Advisory firm Diamond Hill Capital Management cut its stake by 27 percent.
Other big holders, including Sanders Capital and Adage Capital Partners, only trimmed small amounts in the second quarter.
Soros also rejigged his energy holdings, raising stakes in Devon Energy Corp (DVN.N) and Kinder Morgan Inc (KMI.N), while dissolving his stake in the VanEck Vectors Oil Services ETF (OIH.P) and cutting exposure to Canadian Natural Resources Ltd (CNQ.TO) and Williams Companies Inc (WMB.N).
Quarterly disclosures of hedge fund managers’ stock holdings, in what are known as 13F filings with the U.S. Securities and Exchange Commission, are one of the few public ways of learning what the managers are selling and buying.
But relying on the filings to develop an investment strategy comes with some risk because the disclosures come 45 days after the end of each quarter and may not reflect current positions. Still, the filings offer a glimpse into what hedge fund managers saw as opportunities to make money on the long side.
The filings do not disclose short positions, or bets that a stock will fall in price. As a result, the public filings do not always present a complete picture of a management firm’s equities holdings.
Reporting by Jennifer Ablan; additional reporting by Trevor Hunnicutt, editing by G Crosse
Carbon Black, a private cybersecurity firm headquartered in Waltham, Mass. that is rumored to be seeking an IPO this year, has appointed a chief cybersecurity officer.
The company has hired Tom Kellermann, a former executive at Trend Micro, a rival Japanese firm, where he held the same title. Kellermann most recently served as CEO and co-founder of Strategic Cyber Ventures, a cybersecurity-focused venture capital firm based in Washington, D.C., which is backed by Hudson Bay Capital, a New York-based hedge fund.
“I decided I needed to stop armchair quarterbacking and get back into the fight,” Kellermann tells Fortune. He says he had an epiphany while hiking in Boulder, Colo. last summer.
Kellermann, who started in the new role on January 22, says he will remain on at Strategic Cyber Ventures as vice chair of the board. The company has invested millions of dollars in a number of startups, including TrapX, E8 Security, ID DataWeb, and Polarity.
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Patrick Morley, Carbon Black’s CEO, said in a statement that Kellermann’s “experience perfectly matches the balance between innovative technology, security, and evangelism that we’re looking for at Carbon Black.”
Carbon Black, which sells subscriptions to software designed to detect and defend against digital threats, filed confidential paperwork in the fall for an initial public offering, the Wall Street Journal reported last year. The company has also been in talks with possible acquirers, such as IBM, VMware, and Microsoft, The Information reported at the beginning of the year.
… specialised expertise and Fanatical Support for cloud platforms, including Amazon Web Services (AWS), Microsoft Azure, OpenStack and VMware, …
Jason Hatch has been promoted to this key role for VisualVault’s growing global Partner program for Cloud Based, Process Automation (BPA)/Enterprise Content Management (ECM) solutions.
(PRWeb January 05, 2017)
Read the full story at http://www.prweb.com/releases/2017/01/prweb13958485.htm
Business and Technology Consulting Company Recognized for Cloud-based Solutions
(PRWeb September 23, 2016)
Read the full story at http://www.prweb.com/releases/2016/09/prweb13707098.htm
ÄKTA, a Chicago based, user experience digital design & development agency, has hired Sara Frisk as VP of Brand Strategy. Formerly Portfolio Director at IDEO Chicago, her brand work has…
(PRWeb August 31, 2015)
Read the full story at http://www.prweb.com/releases/2015/09/prweb12932639.htm