Billionaire financier George Soros and his Soros Fund Management purchased 1.45 million shares in Time Warner Cable (NYSE: TWC) during the second quarter, according to an SEC filing released Friday and reported by Barron's.
The 1.45 million new shares are in addition to the 2.6 million shares Soros Fund Management purchased in Time Warner in fourth quarter of 2014. The 2.6 million share purchased was revealed in a Dec. 31 SEC filing and reported by CNN/Money.
It's unclear from the SEC filing whether Soros purchased the 1.45 million shares before or after Charter Communications (NASDAQ: CHTR) announced its plan to purchase Time Warner Cable for $56.7 billion in cash and stock. According to Barron's, money managers must reveal their holdings in Time Warner Cable as of June 30.
When the Charter/Time Warner deal was announced in late May, Time Warner's shares soared approximately 20 percent, according to Barron's. The 1.45 million shares were worth $259.2 million as of June 30, according to a MarketWatch report.
Soros is one of the wealthiest hedge fund managers, according to Forbes. In 2014 he reportedly earned $1.2 billion. In addition to Time Warner Cable, Soros Fund also owns shares in Echostar, according to CNN/Money.
For more:
- see this Barron's article
- see this MarketWatch report
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