Reuters-Published on ZDNet News: May 16, 2007, 6:15 AM PT
Billionaire investor George Soros has more than doubled his stake in Microsoft's common stock. He reported Tuesday in a filing with the U.S. Securities and Exchange Commission that he had 415,497 shares as of March 31, compared with a previously disclosed stake of 198,075 shares. Soros also reported that he had taken a stake in the call options of the world's largest software maker with 684,000 shares worth about $19.06 million as of March 31.Overall, Soros' stake in Microsoft increased to $30.6 million from $5.9 million.
He also reported that he had cut or dropped his stakes in a number of other technology-oriented companies as of the end of the first quarter, including Oracle, Take-Two Interactive Software and eBay. Soros dropped his stakes in eBay and Take-Two, in which he had previously held 101,745 shares and 1.01 million shares, respectively as of Dec. 31. He cut his stake in Oracle to 99,000 shares from 808,000 shares. He also dropped his stakes in Goodyear Tire & Rubber, in which he had previously held 1.07 million shares, and in Diamond Offshore Drilling, in which he had held 814,100 shares as of Dec. 31.
A notable trend in his portfolio was the acquisition of relatively small stakes in dozens of retailers and consumer companies, many of which are mainstays at malls across the United States.
The new stakes included Bed Bath & Beyond, Blockbuster, Big Lots, DSW, Hot Topic, Men's Wearhouse, Payless ShoeSource, Restoration Hardware and Starbucks. Soros also cut stakes in a few clothing retailers, dropping his holdings in Abercrombie & Fitch to 66,698 shares from 438,000 shares and reducing his holdings in American Eagle Outfitters and Limited Brands.
The overall value of Soros' fund, Soros Fund Management, dropped 19 percent to $2.48 billion from the previous quarter.
http://news.zdnet.com/2100-3513_22-6184106.html
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