Soros’ Q2 shopping list: Apple, Herbalife, and JC Penney
Billionaire investor George Soros has sold down all his gold holdings and stocked up on unloved retailer JC Penney, nutrition supplement firm Herbalife, and tech giant Apple.
According to a regulatory filing with the US Securities and Exchange Commission covering the second quarter, Soros (pictured) picked up 19.9m shares in JC Penney, with a call option on 500,000 shares, suggesting he expects the stock to soar.
He has also added more than 5m shares in Herbalife – a big short of his rival Bill Ackman, who has filed a complaint with the Securities and Exchange Commission accusing Soros of insider dealing over his Herbalife trades.
Soros has also increased his position in Apple to 66,800 shares, as well as upping his position in technology giant Google, his portfolio’s third largest holding.
This week, Apple’s shares soared 4% after billionaire investor Carl Icahn took a stake in the company and vowed to push for higher payouts to shareholders.
Soros has also exited his gold ETF holdings, selling positions in Market Vectors Gold Miners ETF and SPDR Gold Trust ETF.
The price of gold has appreciated nearly 4% in the last 30 days, but over one year to date it is still down 16.6%.
Other stocks sold down by the fund include Citigroup, which Soros decreased from 544,500 shares to 172,722; and Netflix, which he took down from 55,000 to 40,000 stocks.