Soros Fund Management, managed by George Soros, has disclosed, in a new filing with the SEC, ownership of 9.40 million shares of Polycom Inc (NASDAQ:PLCM). The stake amasses 6.95% of the company’s common stock and represents a new position in the fund’s equity portfolio. At the current stock price of the company, the value of the holding amounts to approximately $110.17 million.
The stock has seen some insider selling in the last quarter with Laura Durr, Svp Worldwide Finance who sold 2,500 shares; Sayed Darwish, CLO & EVP Corporate Development sold 30,000 shares and Betsy Atkins, director, sold 10,000 shares.
Out of the funds tracked at Insider Monkey, Mason Capital Management, run by Kenneth Mario Garschina, disclosed holding 8.58 million shares of Polycom as of the end of September 2013.
George Soros is ranked 35th on the list of the world’s richest people.
Last month, Soros Fund Management, sold some 985,700 shares of Exar Corporation (NYSE:EXAR), reducing its stake to 4.96 million shares. Recently, the fund also sold $5.683 million worth of bonds of Digital River, Inc. (NASDAQ:DRIV).
In the third quarter of 2013, the fund took a massive stake in Microsoft Corporation (NASDAQ:MSFT), reporting ownership of 12.58 million shares, worth $419.06 million, at the end of the quarter. The fund had 4.58% of its equity portfolio invested in Microsoft Corporation.