Soros Buys Big Alibaba Stake, Sells Facebook

George Soros and his Soros Fund Management released its latest 13F SEC filing on Friday.

Alibaba Group Holding Ltd BABA was a notable new holding. Soros bought 4,400,000 shares, valued at over $390 million.

At Alibaba’s Friday closing price of $115.10, the Soros stake would be valued at $506.4 million.

The firm reduced its stake in Apple Inc. AAPL from 1,833,764 shares to 114,854 shares.

Holdings in Facebook Inc F were cut from 1,841,260 shares to 250,000 shares.

The report also showed Netflix, Inc. NFLX as a new holding at 97,764 shares.