Soros Fund Management LLC purchased stakes in Yahoo Inc.YHOO +2.48% and Alibaba Group Holding Ltd.BABA +0.23% in the third quarter, just a quarter after the hedge fund titan sold significant positions in several technology firms.
The prominent fund bought a total of $205.9 million of stock in Yahoo in the quarter. The purchase of the shares in the Internet portal comes as the pressure on Yahoo has intensified in recent months. In September, activist investor Starboard Value LLP said it took a position in Yahoo and pushed Chief Executive Marissa Mayer to reduce costs and consider a combination with AOL AOL -0.71%. Starboard also criticized Ms. Mayer for spending too much to acquire companies that haven’t produced a profit for Yahoo.
The firm has responded by increasing its deal-making efforts in a bid to renew advertiser interest in Yahoo, which has seen sales stagnate in Ms. Mayer’s more than two years as CEO.
Mr. Soros also bought a significant stake in Alibaba, the Chinese e-commerce company that successfully launched a $25 billion initial public offering of stock in September. At the end of the quarter, Soros owned $390.9 million of stock in the company.
Even so, Mr. Soros’ fund continued to lower his stake in other technology companies, such as Citrix and Intel in the period ended Sept. 30. Soros also lowered stakes in Celgene CELG -3.15% and Host Hotels.
The hedge fund founded by billionaire investor George Soros is also set to become one of the largest shareholders in leading Spanish builder Fomento de Construcciones y Contratas SAFCC.MC +8.37% during a $1.25 billion capital expansion aimed at reducing the company’s debt. An agreement between Mr. Soros and the company’s main shareholder, Esther Koplowitz, was announced Friday, marking the latest of several high-profile deals that have put Spain on the global investment map since its economy emerged from recession in the summer of last year.
The fund, which disclosed in 2011 it would return cash to outside investors, invests money for Mr. Soros and his family.
Investors who manage more than $100 million are required to disclose most securities holdings within a month and a half of the end of a quarter. The filings give the public a relatively fresh look at the portfolios of well-known investors. The second-quarter deadline was Friday.