Keep An Eye On George Soros’ New Micro-Cap Investment

George Soros‘ Soros Fund Management has recently bought into Arno Therapeutics Inc. (OTCMKTS:ARNID), through a passive stake of 2,039,333 shares. This newly acquired position represents around 9.99% of Arno’s common stock, a large portion of shares for a new entry.

Arno Therapeutics, a biopharmaceutical company which specializes in oncology therapeutics, completed a private placement of new shares of common stock at the end of October. The transaction, which resulted in $30.7 million in gross proceeds for the company, certainly did not escape George Soros’ attention, as his investment firm decided to buy a stake in the Arno a little over a week after the announcement.

George Soros - Soros Fund Management

Soros Fund Management, founded in 1969, has been delivering 20% annual returns over the past four decades. The firm invests in a series of securities, like currency, commodities, as well as stocks from transportation, energy, retail, and financial sectors, among others. However, technology is currently the hedge fund’s favorite segment, with a large portion of equity investments being made in this sector.

Soros currently has an equity portfolio valued at over $9.2 billion, after gaining around 1% last 13F filing period. The fund’s most important assets, in terms percentage of its holdings, are stocks like Google Inc. (NASDAQ:GOOG) and J.C. Penney Inc. (NYSE:JCP).

The billionaire is now the first hedge fund of those we track to invest in Arno Therapeutics.

The biopharmaceutical company could prove to be a savvy investment, since it has several interesting projects in its pipeline. Onapristone, for example, is already undergoing pre-clinical trials and is expected to deliver good results for breast and endometrial cancer treatment.

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!