Soros Fund Management firm has a new holding of $280 million stake in QuantumScape Corp., according to Bloomberg. The George Soros’s firm also raised tech bets and exited its stake in sports betting company DraftKings Inc.
- Soros holding in Palantir Technologies jumped to $435 million at the end of the year, after the stock gained 148% during the quarter.
- The company said in November that it owned 18.46 million shares of Palantir, an investment it claims was made in 2012, and regretted the decision.
- Soros claims it invested in Palantir when the negative social consequences of big data were less understood.
- The company has sold all permitted shares in Palantir and would keep selling, even as a lockup for insiders to sell stock expires this week.
- Over the years, Soros Fund investments, which include stakes in gun manufacturers and coal entities, have conflicted with the company’s philanthropic philosophy.
Soros Fund held $$4.6 billion in U.S stocks at the end of the quarter, an $886 million increase from the prior quarterly period.
