George Soros Adds Apple, Defriends Facebook
NEW YORK (TheStreet) -- While the majority of his peers were selling, legendary investor George Soros was adding to his stake in Apple (AAPL) during the fourth quarter.
According to his latest 13F filing, Soros owned 183,976 shares. This compares to his third-quarter filing, when he owned 84,858 shares of the technology giant.
Soros, known for his philanthropy and ideas on economics, also cut his position in other technology names, including Facebook (FB) and Amazon.com (AMZN). Soros owned 300,000 shares of Facebook as of the end of the third quarter, but owned none at the end of the year. His entire stake in Amazon was sold as well, going from 260,000 shares to none.
Outside of technology, Soros chopped his stake in AIG (AIG), going from 15.2 million shares, down to just 8.8 million shares. He initiated a new position in Ford (F), buying 3.1 million shares of the Dearborn, Mich.-based auto maker.
In addition to his equity stakes, Soros, known for breaking the Bank of England in the 1980's by betting against the British pound, is now in the midst of another profitable currency trade. The Wall Street Journal reported that Soros had gained nearly $1 billion by betting against the Japanese yen, as the currency has depreciated nearly 20% in the past four months. --Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_BullSelect the service that is right for you!
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