George Soros Dumps Twitter And COVID-19 Play Zoom — Take Positions In Crypto-Linked Stocks In Q4

Zinger Key Points
  • COVID-19 plays have fallen out of favor and George Soros' latest portfolio moves reflect dwindling interest in them.
  • The billionaire's flagship fund also picked up some beaten-down stocks.

George Soros’ Soros Fund Management divested its entire holdings in Elon Musk-led Twitter and COVID-19 play Zoom Video Communications Inc. ZM. At the same time, the fund either took fresh positions or increased bets in some crypto plays.

Zooming Out: Soros Fund, which had 98,600 shares in Zoom Video at the end of the third quarter, liquidated its entire holdings in the fourth quarter. Post the COVID-19 pandemic, the company’s growth has moderated and it recently cut jobs to preserve margins.

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After Musk’s takeover of Twitter in October, Soros divested all the 90 million preference shares he held in Twitter.

Deepening Crypto Stake: Soros’ Fund also increased its bets on crypto stocks.

  • Took fresh position in crypto miners Marathon Digital Holdings Inc. MARA by buying 39.6 million preferred shares
  • It increased bets in Michael Saylor-led MicroStrategy Inc. MSTR from 50,000 shares to 100,000 shares, while holding 194.38 million preferred shares unchanged.
  • The fund has also taken a short position on troubled crypto-focused bank Silvergate Capital Corp. SI, with a total of 100,000 shares worth of put options.

Other Notable Changes: Soros also initiated positions in used-car retailer Carvana Inc. CVNA and ride-hailing company Lyft Inc. LYFT. It increased its stake in fitness equipment company Peloton Interactive Inc. PTON.

Amid the housing market weakness, Soros Fund substantially reduced its stake in homebuilder D.R. Horton Inc. DHI.

Photo: Courtesy of Wikimedia Commons

Read Next: George Soros Increased Tesla Stake By 270% As Stock Plunged In Q4; But That's Not All — He Is Now Also Betting On This Legacy Automaker

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