Moving on to another Chinese tech company owned by the two billionaires, George Soros disclosed owning 358,650 American Depositary Receipts (ADRs) in Baidu Inc. (NASDAQ:BIDU), which are valued at $74.74 million as of March 31. Louis Bacon’s holding in the Chinese-language Internet search provider amounts to 319,689 ADRs valued at $66.62 million, after decreasing his stake from 456,185 ADRs reported a quarter ago. Baidu shares declined by over 10% year-to-date and are currently trading at $203. Despite having destructive operating margins, Baidu’s revenues have been increasing for 25 consecutive quarters. Analysts are slightly surprised by the growth pace of the company, which resembles the growth of a small-cap company. Even though Baidu has been mainly focusing on the Chinese market, the company might continue to expand beyond those borders. From the pool of over 700 hedge funds that we track, Stephen Mandel’s Lone Pine Capital is the largest shareholder in Baidu Inc. (NASDAQ:BIDU), owning 5.28 million ADRs.
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Soros and Bacon made opposite moves in Yahoo! Inc. (NASDAQ:YHOO) during the most recent quarter. Soros Fund Management reported the sell-off of 549,044 shares in Yahoo, ending the quarter with 1.32 million shares valued at $58.56 million. In contrast, Moore Capital Management increased its position in the company to 248,445 shares, which are worth $11.04 million. The shares of Yahoo are currently trading at $40 per share, marking a decrease of 20% year-to-date. However, the company might achieve a turnaround soon enough as it hopes to replicate the success of last year’s partnership with Mozilla Firefox, the deal which allowed Yahoo to increase its search share in the United States. Yahoo has recently formed a new partnership with Oracle that will allow the tech giant to make use of new Java software installations, which might eventually assist Yahoo in increasing its search share and user base. Within our database, Daniel Och’s OZ Management represents the largest equity holder in Yahoo! Inc. (NASDAQ:YHOO), with 14.65 million shares.
Yet again, the two billionaires have taken different roads when it comes to another tech stock, this time Facebook Inc. (NASDAQ:FB). George Soros decreased his position in Facebook to 124,114 shares that are worth $10.20 million, while Louis Moore Bacon enlarged his total holding in the company by 140,658 shares to 480,368 shares which are valued at $39.49 million as of March 31. The stock has delivered a return of nearly 13% since the beginning of the year to $88 per share. Just recently, Facebook announced that its chat app, Messenger, will no longer require people to have a Facebook account to join. Mark Zuckerberg, the CEO of Facebook, has claimed that the company will start its monetization efforts as soon as its user base reaches one billion users. Hence, this update represents a massive business opportunity for Facebook in the future. Within our database, Philippe Laffont’s Coatue Management is the second-largest investor in Facebook Inc. (NASDAQ:FB) with 7.91 million shares, tailing Stephen Mandel’s Lone Pine Capital.
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