George Soros exits Herbalife, invests in Netflix, PayPal, Amazon.com

The Netflix logo is shown in this illustration photograph in Encinitas, California October 14, 2014. REUTERS/Mike Blake/Files

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 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.

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Activist investor Icahn swaps eBay stake with equal amount of PayPal shares

(Editing by Christian Plumb)

Reuters

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.