Billionaire George Soros' family office, Soros Fund Management, made some significant changes to its holdings in Q2 of this year, according to a 13F filing submitted to the U.S. Securities and Exchange Commission. Soros added Facebook (FB), Apple (AAPL), and Twitter (TWTR) during the three-month period ending June 30th; at the same time, the billionaire's office trimmed its positions in Amazon.com (AMZN) and Alphabet (GOOGL).
Big Boost to BlackRock
One of the most notable shifts in Soros' holdings for last quarter was a significant increase in the fund's investment in BlackRock, the largest asset management firm in the world. Soros boosted his position by about 60%, with a total of 12,983 shares at the end of the second quarter. BlackRock oversees about $6 trillion in total assets.
Social Media and Streaming Services Interest
That Soros made purchases of some of the most popular social media companies in the world is noteworthy but not especially surprising. Facebook, Apple, and Twitter are all highly prominent stocks which routinely appear in the portfolios of top hedge funds across the country. Soros bought more than 159,000 shares of Facebook, valued at close to $31 million.
Notably, Soros also invested heavily in the music-streaming industry in the most recent quarter, too. Soros Fund Management bought more than 728,000 shares of Spotify Technology SA (SPOT), currently valued at more than $122 million. At the same time, the office bought up 7.12 million shares of Pandora Media Inc. (P), worth just over $56 million. In total, Soros invested more than $178 million across two popular music streaming services.
Since its initial public offering, Spotify has performed solidly, while Pandora climbed by nearly 60% in the second quarter. Indeed, Spotify may have been Soros' stand-out bet in the period, as it was his fourth-largest position by the end of Q2.
Another notable purchase for the previous quarter was Coupa Software (COUP). Soros bought 500,000 shares of the company, valued at more than $31 million.
Biggest Positions Include Liberty, VICI
Soros' largest portfolio holdings include Liberty Broadband (LBRDA), with about $556 million in shares owned, VICI Properties (VICI), with close to $444 million owned, and NXP Semiconductors (NXPI), with about $210 million in stock owned as of the end of Q2.
Among the names that Soros sold last quarter were Kennedy-Wilson (KW) and Lam Research (LRCX). Soros sold more than $102 million worth of KW shares (about 5.91 million shares) and 283,230 shares of Lam, valued at more than $57 million.
Keep in mind that Soros may have changed some or all of the above holdings in the time since June 30th, as 13F filings are backward-looking.