Soros Fund Management Increases Stake In Quantum Corp (QTM)

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George Soros‘ family office, Soros Fund Management, has had a change of hearts regarding Quantum Corp (NYSE:QTM). After it had dumped more than 80% of its stake during the first quarter and reported ownership of 1.66 million shares in its latest 13F filing, the fund has now increased its holding to 14 million shares, which account for 5.27% of the company’s outstanding stock.

George Soros

A provider of data storage and protection services for small businesses and multi-national enterprises, Quantum Corp (NYSE:QTM) is one of the stocks that went public at the height of the Internet bubble and never reached those highs again. So far this year, the stock has been deep in the red zone, currently down by 33%. Although it reported a loss for the fiscal first quarter, Quantum’s numbers came ahead of analysts’ projections. The company reported $116.3 million in revenue and earnings of $0.01 per share when adjusted for restructuring costs and stock option expenses. Market participants were expecting a loss of $0.02 per share and revenue of $111.3 million. For the current quarter, Quantum said it expects revenue to range between $118 million to $122 million.

At the end of the first quarter, roughly 23% of Quantum Corp (NYSE:QTM) common stock was held by 13 of the funds followed by Insider Monkey, down from 14 registered three months earlier. Jeffrey Smith‘s Starboard Value was among top holders of the stock, with its 13F filing showing it held 18.9 million shares, down by 27% for the quarter. Gregg J. Powers’ Private Capital Management was not far behind, as it held 16.2 million shares, after a 2% decrease during the quarter.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
SOROS FUND MANAGEMENT 0 14,025,220 0 14,025,220 5.27%
GEORGE SOROS 14,025,220 0 14,025,220 14,025,220 5.27%
ROBERT SOROS 14,025,220 0 14,025,220 14,025,220 5.27%

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Page 1 of 12 – SEC Filing

Washington, D.C.  20549
Under the Securities Exchange Act of 1934
(Amendment No. )*
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
(CUSIP Number)
July 22, 2016
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[   ]
 Rule 13d-1(b)
 Rule 13d-1(c)
[   ]
 Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
Continued on following pages
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Exhibit Index: Page 9

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