Soros Exits Goldman Sachs, JPMorgan, Adds To Gold Position
Valuewalk.com
August 15, 2012
George Soros, through his Soros Fund Management LLC investment management firm, filed his 13F form today with the SEC, indicating some interesting position changes and new investments. Most notably, Soros exited a number of financial firms, such as Goldman Sachs Group, Inc. (NYSE:GS) and JPMorgan Chase & Co. (NYSE:JPM). Interestingly, Soros no longer has any substantial positions in financial firms, whether in the United States, or globally.
In addition to the changes in those positions, Soros also added Facebook Inc (NASDAQ:FB) to the portfolio. The 341,000 share position was worth $10.6 million dollars on June 30th, when the stock was trading substantially higher than today’s closing price of $20.38. Currently, the same position in Facebook Inc (NASDAQ:FB) would be worth approximately $6.9 million. It seems as though Soros can be added to the long list of investors burned by the infamous IPO to date. Some other substantial names dot that list though, with SAC Capital and Tiger also adding Facebook Inc (NASDAQ:FB) to their holdings in the second quarter of the year.
The Rest…HERE
