A previous version of this story had the incorrect number of JetBlue shares bought by the fund. It has been corrected.
Billionaire investor George Soros’ investment fund has placed new bets on low-cost and ultra-low-cost U.S. airlines, going for fresh stakes in JetBlue Airways Corp., Spirit Airlines Inc. and Sun Country Airlines Holdings Inc., according to a filing late Wednesday.
Soros’ fund, which had invested in JetBlue
JBLU,
in the distant past, has bought more than 70 million shares of the low-cost airline, which recently appealed a court ruling blocking its merger with Spirit.
Activist investor Carl Icahn on Monday disclosed a 9.9% stake in JetBlue, saying that the airline’s stock was “undervalued and represented an attractive investment opportunity.” Icahn also signaled his intention to have a say in the direction of the company.
Low- and ultra-low-cost airlines such as Spirit
SAVE,
and Sun Country
SNCY,
have continued to reap the benefits of increased demand for leisure air travel in the U.S.
Soros Fund Management also increased its bets on Doordash Inc.
DASH,
Doordash is slated to report quarterly earnings after the bell on Thursday.
The fund sold off its stakes in chip makers Arm Holdings Plc.
ARM,
whose stock had been on a tear until recently, and Broadcom Inc.
AVGO,
to name a few exits.
For more 13-F reports:
• David Einhorn’s Greenlight Capital adds Kenvue, ETFs and exits Southwestern Energy
• Berkshire Hathaway loads up on shares of Sirius XM and Chevron, exits home builder D.R. Horton
• Druckenmiller dumps Alphabet, Amazon and Broadcom but Nvidia remains largest holding
• Appaloosa takes new stakes in Oracle and GM, raises stakes in Alibaba and Microsoft
• Nvidia discloses positions in SoundHound AI, Arm — and these other stocks
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