Soros Joins Hedge Fund Exit From Banks in First Quarter
This article is for subscribers only.
George Soros’s family office and Tudor Investment Corp. were among asset managers that cut their stakes in financial-services stocks in the first quarter, getting out before many of the shares tumbled on poor earnings.
Soros Fund Management LLC, which is based in New York and invests the longtime hedge-fund manager’s personal wealth, sold out of its positions in JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp., according to a regulatory filing today. JPMorgan has dropped 12 percent since March 31 and Bank of America has slid 15 percent.