Soros Takes Stakes In Alibaba, Yahoo; Cuts Herbalife Holdings
Soros Fund Management bought stakes in Chinese e-commerce company Alibaba and Yahoo [s yhoo] in the third quarter, according to a Friday filing with the Securities and Exchange Commission. The fund, founded by hedge-fund legend George Soros, held 4.4 million shares of Alibaba, valued at $390.9 million as of Sept. 30, and more than 5 million shares of Yahoo, valued at $205.9 million. Soros trimmed his holdings of Herbalife by around 60% to a total of more than 1.888 million shares worth $82.6 million as of Sept. 30. Soros also reduced the number of put options, which give the holder the right but not the obligation to sell the underlying instrument at a certain price, on the SPDR S&P 500 ETF by nearly a quarter to 8.545 million.
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