The largest tech holding in the fund’s equity portfolio is represented by Alibaba Group Holding Ltd (NYSE:BABA). Soros Fund Management disclosed holding 4.4 million shares of China’s biggest online commerce company, with an aggregate value of $457.33 million. Among the funds that we track, Billionaire Dan Loeb’s Third Point is the biggest shareholder of Alibaba Group Holding Ltd (NYSE:BABA), which holds 10 million shares, up by 39% on the quarter, according to its last 13F filing. The $1.04 billion position represents a significant portion of Mr. Loeb’s portfolio, reaching 9.37% of its value and being the second-largest. The stock of the e-commerce company lost around 9% since its IPO, but analysts still keep a strong outlook on the stock. However, on Friday JPMorgan cut its price target on the stock to $109 from $117, maintaining ‘Overweight’ rating. So far this year, JPMorgan is the sixth analyst to lower its price target on Alibaba Group Holding Ltd (NYSE:BABA). Overall, the stock has a consensus price target of $107.70.
In Yahoo! Inc. (NASDAQ:YHOO) the fund disclosed holding 1.87 million shares, down by 64% on the quarter; the value of the stake amounting to $94.30 million. Yahoo! Inc. (NASDAQ:YHOO) represents one of Mr. Soros’ long term investments. However, during the second quarter of 2014, the stake was closed and then re-opened during the following quarter. The move coincides with Alibaba’s IPO, in which Yahoo owns a significant equity position that is not reflected in its market value. Among the funds that we track, the largest shareholder of Yahoo! Inc. (NASDAQ:YHOO) is David. E. Shaw’s D.E. Shaw, which reduced its stake by 31% on the quarter to 13.54 million shares held as of the end of 2014.
Moreover, among the largest technology stakes in Soros Fund Management’s equity portfolio, one holding is represented by a small-cap stock. This company is Polycom Inc (NASDAQ:PLCM), a $1.81 billion company, whose stock gained 20.2% during last year. The fund initiated a stake in Polycom Inc (NASDAQ:PLCM more than five years ago and at the end of 2014, it held 10.62 million shares, down from 11.47 million shares a year earlier, the value of the stake amounting to $143.14 million. Another fund that owns shares of Polycom Inc (NASDAQ:PLCM) is Malcolm Fairbairn‘s Ascend Capital, holding 3.45 million shares, up by 21% on the quarter; the value of the stake amounts to $46.57 million as of the end of 2014. Polycom is a communication equipment company that provides solutions that allow enterprise, government, education & healthcare customers to collaborate over distance. Recently Polycom has signed a contract with the Australian partner Telstra to deliver its RealPresence One product, as well as making progress in negotiations with an African based-bank and a semiconductor company.
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