Soros's investment company, which bought heavily into stocks that plummeted during the sell-off after Bill Hwang's Archegos Capital Management burst, has pulled out of those positions.
Soros Fund Management sold $194.3 million in ViacomCBS Inc. Stock and $77 million in Baidu Inc, according to the latest regulatory filing released on Friday.Stock, $46.4 million Vipshop Holdings LimitedStock. The financial magnate also sold out his holdings of Tencent Music.And Discovery Inc. Stock.
The scale of the sale is almost the same as the purchase disclosed by the company at the end of the first quarter.
Most stocks linked to the Archegos explosion continued their decline in the second quarter. In the three months to the end of June, Vipshop Holdings Limited fell 33%, Tencent Music fell about 24%, and Tencent Music fell about 21%. Baidu Inc fell 6.3%. ViacomCBS is almost the same.
Soros's investment company increased its stake in Amazon.Com Inc in the second quarter., as in the first quarter; newly built IHS Markit Ltd. And Proterra Inc.
A spokesman for Mr. Soros declined to comment.