Billionaire George Soros, 86, joined the handful of big hedge funds that bought Snap in the first quarter, an SEC filing Monday showed.
The filing showed Soros bought 1.6 million shares of the Snapchat parent, which went public in early March.
The stock plunged more than 20 percent after a disappointing earnings report last week but rebounded Monday after first-quarter filings showed hedge funds bought the stock.
The investing giant dissolved small stakes in Amazon.com, Bank of America, Kohl's and Pandora in the first quarter.
The other new long positions from George Soros include:
Lam Research Corporation (LRCX.US)
C&J Energy Services (CJ.US)
SBA Communication Corporation (SBAC.US)
Take Two Interactive Software (TTWO.US)
Soros disclosed the stock holdings in a 13F filing required by the U.S. Securities and Exchange Commission 45 days after the end of a quarter.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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