May 15 (Reuters) – Soros Fund Management, the family office of billionaire George Soros, dissolved its share stake in embattled lender New York Community Bancorp (NYCB.N), opens new tab and added positions in Goldman Sachs (GS.N), opens new tab and JPMorgan Chase (JPM.N), opens new tab in the first quarter, a regulatory filing showed on Wednesday.
The asset manager previously held about 1.5 million shares in the regional lender worth about $15 million at the end of fourth quarter of 2023.
The fund had increased its position in NYCB in the fourth quarter of 2023 before the troubled lender’s stock rout.
NYCB shares have plummeted 64% so far this year after it posted a surprise fourth-quarter loss and slashed its dividend in January wiping billions of its market value.
Soros also bought a new position in the largest U.S lender JPMorgan Chase of 34,500 shares worth $6.9 million at the end of first quarter.
The disclosures on Wednesday were made through the so-called 13-F regulatory filings, which show investment firms’ portfolios and are closely watched for trends even though the data is released with a delay and can be dated.
Source: REUTER
