Billionaire George Soros’ Latest Move Involves Cypress Semiconductor Corporation (CY); His Holdings Return -2.2% in Q2

Soros Fund Management increased its position in Alibaba Group Holding Limited (NYSE:BABA) by 44,604 shares, ending the first quarter with 4.44 million shares valued at $369.97 million. The shares of Alibaba have decreased by 22% year-to-date and lost 1.2% in the second quarter alone. Alibaba has recently announced its plans of launching its video streaming service, Tmall Box Office, in China. The company intends to unlock new revenue streams by penetrating the China’s booming online video market, which has grown at a rate of over 60% year-over-year throughout the recent quarters. Within our database, Rob Citrone’s Discovery Capital Management is the largest shareholder in Alibaba Group Holding Limited (NYSE:BABA) with 8.77 million shares.

Soros also cut its stake in The Dow Chemical Company (NYSE:DOW) by 554,353 shares to 4.63 million shares valued at $222.12 million. The stock has grown by 12% since the beginning of the year and might keep rising amid the strong petrochemical market. During the second quarter, Dow Chemical’s stock generated a return of 7.5%. At the beginning of June, Credit Suisse increased the second quarter earnings estimates for Dow Chemical to $0.85 per share from $0.74. The full-year earnings estimates were also raised to $3.28 per share from $3.14. Meanwhile, the price target was maintained at $57. From the pool of over 700 hedge funds that we observe, Dan Loeb’s Third Point holds the largest position in The Dow Chemical Company (NYSE:DOW) with 22 million shares.

Soros Fund Management raised its stake in Endo International plc (NASDAQ:ENDP) by 27% on the quarter to 2.22 million shares valued at $198.88 million at the end of March. The shares of Endo are up by 15% since the beginning of 2015, but lost 11.2% during the April – June period. On May 18, Endo announced its acquisition of the privately-held Par Pharmaceutical Holdings for $8.05 billion. This deal is expected to enhance the long-term double-digit revenue growth of the company, so there is strong upside for Endo in the future. Daniel S. Och’s OZ Management is among the largest shareholders of Endo International plc (NASDAQ:ENDP), owning 5.18 million shares.

Disclosure: None