Billionaire Investor Soros Buys Stocks Sold Amid Arkegos Crisis

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] It has been confirmed that the investment fund operated by billionaire investor George Soros purchased a large volume of stocks that were sold off during the collapse of Arkeogos Capital, the firm run by Korean-American investor Bill Hwang.

According to Bloomberg on the 16th (local time), Soros Fund Management disclosed in its shareholding report that it bought $194 million worth of ViacomCBS shares and $77 million worth of Baidu shares in the first quarter.

It also disclosed purchases of $46 million worth of VIPShop Holdings shares and $34 million worth of Tencent Music Entertainment Group shares.

All of these stocks were sold by investment banks through block trades (large trades outside regular hours) when Arkeogos Capital was in crisis, and Soros Fund Management reportedly did not hold these stocks prior to the Arkeogos Capital incident.

Bill Hwang’s personal investment firm, Arkeogos Capital, entered into total return swap (TRS) contracts, a type of derivative, and made leveraged investments but faced a crisis due to stock price declines, causing losses amounting to $10 billion for global financial firms.

Meanwhile, Soros Fund Management purchased shares of Amazon and homebuilder D.R. Horton in the first quarter, while selling $435 million worth of Palantir Technologies shares.

The total amount of Soros Fund Management’s stock investments in the first quarter was $4.5 billion, down $77 million from the previous quarter.

This content was produced with the assistance of AI translation services.