To: Craig Freeman who wrote (50199 ) 2/21/1999 9:23:00 PM From: James Yu Read Replies (1) | Respond to
Let me clear the air. Here is a report of Solos investment in 4th Quarter.Examples include Advanced Micro Devices Inc., where Soros Management raised its stake to 3.5 million shares on Dec. 31 from 1.8 million shares as of Sept. 30, and MCI Worldcom Inc., which increased to 7.8 million shares from 4 million. The group's stake in America Online rose to 1.1 million shares from 563,500. It raised its holdings in Intel to 3.7 million shares from 34,900, and increased its Microsoft stake to 2.2 million shares, from 3,900 as of Sept. 30. The money managers also bought new stakes in some companies outside the technology field. These holdings included almost 5 million shares in Pepsico Inc., 2.6 million shares in Philip Morris Cos. and 152,000 shares in Wal-Mart Stores Inc. The value of the stock portfolio totaled $7.3 billion at Dec. 31, roughly $2.9 billion of which was invested in technology shares. Soros Management had a $3.9 billion portfolio at Sept. 30 that included technology stocks valued at $872 million. While Soros is the chairman of the money management firm, he hasn't been involved in its day-to-day activities since 1989. This role is filled by his associate Stanley Druckenmiller. The Quantum group includes eight investment funds with about $16 billion in assets, ranking Soros Management as one of the largest hedge fund advisers. The offshore funds are closed to investment by U.S. citizens. Money managers who control $100 million or more of equities must file a Form 13F disclosing the contents of their stock portfolio at the end of each quarter. The filing is due 45 days after the quarter ends.
