Soros Fund Management Initiates Digital River (DRIV) Position ~ market folly

Friday, March 30, 2012

Soros Fund Management Initiates Digital River (DRIV) Position

George Soros' hedge-fund-turned-family-office Soros Fund Management just filed a 13G with the SEC disclosing a brand new position in Digital River (DRIV).

Due to trading activity on March 19th, Soros crossed the regulatory threshold that required the filing. They now own 7.98% of the company with 3,084,460 shares. Soros did not own shares of DRIV at the end of the fourth quarter.

In other recent portfolio activity, we also touched on how Soros added to its Acacia Research position. One of the firm's holdings was recently featured as our stock of the week. Check out why George Soros owns Comverse Technology.

Per Google Finance, Digital River is "engaged in providing end-to-end global e-commerce and marketing solutions to a range of companies in software, consumer electronics, computer games, video games, and other markets.

The Company’s services include design, development and hosting of online stores and shopping carts, store merchandising and optimization, order management, denied parties screening, export controls and management, tax compliance and management, fraud management, digital product delivery through download, physical product fulfillment, subscription management, online marketing, including e-mail marketing, management of affiliate programs, paid search programs, payment processing services, Website optimization, Web analytics and reporting, and compact disc (CD) production and delivery."

George Soros' Quantum Endowment recently ranked second in the top 10 hedge funds by net gains since inception.

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