George Soros dumps Apple and Snap stock, boosts stake in Amazon, Microsoft

George Soros’ investment fund dumped its inventory holdings in Apple and Snap within the last quarter while lowering stakes in other major tech giants including Facebook and Twitter, regulatory filings express.

The billionaire investor’s hedge fund, Soros Fund Control, sold 1,700 shares of Apple, and 1.55 million of Snap stock in the September quarter. This wiped out the hedge fund’s stake in both businesses, U.S. Securities and Exchange Commission (SEC) filings released Tuesday revealed.

Soros Fund Management as well reduced its stake in Twitter by 5,700 shares. It nonetheless retains 18,400 shares of the social press site.

Facebook also fell out of favor with Soros. The investor dumped 367,262 shares of the social media giant within the last quarter. Soros Fund Control still owns 109,451 Facebook shares.

However, not all names in the technology sector were sold off. Soros upped his stake in Microsoft by 99,000 shares and Amazon by 2,500 shares.

The SEC filings only display the change in share ownership of Soros’ fund, but no commentary concerning his fund’s thinking behind the trades.

Major technology stocks have been in a tear this year, although some of the newly-stated titles have struggled. Snap, which Soros dumped, is definitely down over 48 percent because it went general public in March.

Apple, which Soros’ hedge fund also sold all it is shares in, is up nearly 48 percent year-to-time. Analysts are excited at the potential of the new iPhone X, unveiled previous this month. Apple shares struck a record high last week.

Soros’ posture contrasts to Warren Buffett’s Berkshire Hathaway, which topped up on Apple shares within the last quarter. Buffett’s conglomerate elevated its holdings of the iPhone maker’s stock by 3.9 million to 134.1 million, a SEC filing released Tuesday showed.

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