Soros Fund adds First Horizon, Horizon Therapeutics and bond ETF

Zoom Technologies

14/02/2023 24:34

By Carolina Mandl
       NEW YORK, Feb 13 (Reuters) - Soros Fund Management, the
family office of billionaire George Soros, added to its
portfolio new shares in financial and healthcare companies and a
bonds exchanged-traded fund in the fourth quarter, according to
a regulatory filing on Monday.
    Soros disclosed a $325.3 million stake, or 2.9 million
shares, in biotech firm Horizon Therapeutics  HZNP.O , which was
bought by Amgen  AMGN.O  in December for nearly $28 billion. It
was the investment firm's biggest singular acquisition in the
quarter.
    The firm also bought 2.8 million shares, valued at $90
million, in home health assessment firm Signify Health  SGFY.N .
 
    It added $209.1 million, or 8.5 million shares, in
Memphis-based financial services company First Horizon, which
was acquired by Toronto-Dominion Bank  TD.TO  roughly a year ago
for $13.4 billion. The deal has been delayed and now is expected
to be concluded in May. 
    In finance, the investment firm also added consumer lending
firm Capital One Financial Corp  COF.N , Discover Financial
Services  DFS.N ,  and SoFi Technologies  SOFI.O , although it
also dumped small investments in banks JPMorgan Chase & Co
 JPM.N  and Bank of New York Mellon Corp  BK.N .
    Soros' portfolio dissolved or trimmed positions in tech
companies.
    Shares in Zoom Technologies Inc  ZTNO.PK  and Airbnb Inc
 ABNB.O  were sold, while it reduced its holdings in Amazon.com
 AMZN.O , by 54.5%, to 901 million shares. Shares in the company
rose 18.5% this year.
    The regulatory filing also showed Soros bought $255 million
in an investment grade corporate bond ETF.
    The so-called 13-F filings, which disclose investment firms
portfolios, are closely watched for investment trends even
though the data is released with a delay and can be dated.
    As interest rates rise, investors are increasing their bets
on U.S. corporate bonds this year. 
 (Reporting by Carolina Mandl, Editing by Chris Reese)
 ((carolina.mandl@thomsonreuters.com; +1 (917) 891-4931;))