Soros Takes a One-Two (Three) Punch from Latest Bets

Today’s midday gainers are InterOil Corporation Inc. (NYSE:IOC), Alpha Natural Resources, Inc. (NYSE:ANR), Micron Technology, Inc. (NASDAQ:MU) and midday losers are Lumos Networks Corp (NASDAQ:LMOS), Restoration Hardware Holdings Inc (NYSE:RH), JinkoSolar Holding Co., Ltd. (NYSE:JKS).

Soros Takes a One-Two (Three) Punch from Latest Bets

InterOil is today’s top performing stock

Today’s midday gainer is InterOil Corporation (NYSE:IOC). The energy company is up +10.72% to $61.45. Billionaire John Paulson holds 1.1 million shares, representing 0.55% of his fund. The investor paid an average price of $66.64.

Michael Mauboussin: Here’s what active managers can do

michael mauboussin, Credit Suisse, valuation and portfolio positioning, capital markets theory, competitive strategy analysis, decision making, skill versus luck, value investing, Legg Mason, The Success Equation, Think Twice: Harnessing the Power of Counterintuition, analysts, behavioral finance, More Than You Know: Finding Financial Wisdom in Unconventional Places, academics , valuewalkThe debate over active versus passive management continues as trends show the ongoing shift from active into passive funds. Q2 2020 hedge fund letters, conferences and more At the Morningstar Investment Conference, Michael Mauboussin of Counterpoint Global argued that the rise of index funds has made it more difficult to be an active manager. Drawing Read More

Following Interoil is Alpha Natural Resources, Inc. (NYSE:ANR). The coal company shot up +8.83%, reaching $7.15, after  selling its 50% stake in  Alpha Shale Resources Joint Venture for $300 million to Rice Energy. This was again good news for John Paulson, who owns four million shares, representing 0.15% of his fund. Paulson paid an average price of $8.10 per share.

Last but not least is Micron Technology, Inc. (NASDAQ:MU). The tech stock increased +5.89%, hitting $23.62. This company is a favorite among many of our billionaires. Seth Klarman holds 64 million shares (31.95% of his fund), acquired for $12.89 per asset. Richard Chilton owns 2.5 million assets (1.23% of his holdings), purchased for $8.74. Another investor with MU stakes is Ray Dalio, who holds 1.9 million shares, composing 0.29% of his portfolio.

Soros losses with all three stocks

On the top of our midday losers list today is Lumos Networks Corp (NASDAQ:LMOS). The telecom company dropped -9.02% to $22.20. Billionaire George Soros picked up 213,000 shares last quarter, resulting in a total of 239,000 (0.06% of his fund) in his possession. The investor paid an average price of $18.40 per asset.

The second company on our list is Restoration Hardware Holdings Inc (NYSE:RH). The home furnishings company dipped -6.03% to $68.15. This was another punch for Soros, who bought up 100,000 shares (0.07% of his fund) for $69.55 during last quarter.

The third and final company in our midday losers list is JinkoSolar Holding Co., Ltd. (NYSE:JKS). The energy company was down -4.85%, reaching $26.53. This is another new Soros’ acquisition, who purchased 121,000 shares (0.03% of his fund) for $15.77 last quarter.