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Soros Has Stake in Facebook?

Business

Holds over 300K shares of stock.

Currency speculator and billionaire philanthropist George Soros' most recent 13-F report reveals two very intriguing facts:

1) He has abandoned his stake in major financials

2) He holds thousands of shares of Facebook stock

“Soros completely dumped his stakes in Citigroup (420,000 shares), JP Morgan (701,400 shares) and Goldman Sachs (120,000 shares), leaving him with no position in any major financials at all,” writes Business Insider’s Linette Lopez.

He also ditched tech stocks: “He got rid of minor stakes in Dell (3,100) and Intel (10,600).”

And as for his position in Facebook, Soros owns 341,000 shares.

Considering the fact that Facebook's stock has been struggling ever since its disastrous initial public offering, and the fact that he's ordinarily a savvy investor, one can’t help but wonder what’s driving Soros' interest in the seemingly unprofitable social network.

Follow Becket Adams (@BecketAdams) on Twitter

Click here to view the 13-F report.

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