Actionable news
All posts from Actionable news
Actionable news in GILD: Gilead Sciences, Inc.,

Billionaire George Soros' Fund Dumped These 3 Biotech Holdings. Should You?

Image source: Flickr user Norway UN (New York).

George Soros is widely considered one of the greatest hedge fund managers of all time, and for good reason. During his tenure at the Quantum Fund, Soros reportedly generated average returns in excess of 30% per year, crushing the broader markets in the process.

As such, his namesake fund, Soros Fund Management, remains one of the most closely watched hedge funds in the world, despite his retirement in 2015. And the fact that the Soros Fund has over $4.6 billion under management means it can have a real impact on the market, giving investors all the more reason to keep tabs on its quarterly buys and sells.

Biotech investors in particular may want to dig deeper into the fund's quarterly transactions right now: The Soros Fund sold its entire holdings in the iShares Nasdaq Biotechnology Index Fund (NASDAQ:IBB), Gilead Sciences (NASDAQ:GILD), and Novavax (NASDAQ:NVAX) in the second quarter of 2016, according to recent 13F filings with the SEC.

EquityShares Sold in Q2 2016Originally Purchased
iShares Nasdaq Biotechnology Index Fund 67,600 Q1 2016
Gilead Sciences 3,600 Q1 2016
Novavax 30,300

Q1 2016

Data source:

Should retail investors take a cue from the Soros Fund?

Soros Fund Management may have headed for the exits, but there are actually some compelling reasons to buy all three of these biotech equities right now. Although the iShares Nasdaq Biotechnology Index Fund has performed poorly this year due to the political blowback regarding drug prices, that headwind...