Soros Fund Updates Digital River Position

George Soros' family office Soros Fund Management has updated its stake in Digital River (DRIV).  Per an amended 13G filed with the SEC, Soros Fund has disclosed they own 6.97% of Digital River (DRIV) with over 2.47 million shares. 

This is broken down by 16,050 shares and over 2.46 million shares issuable upon the conversion of 2.00% convertible bonds due November 1, 2030.

At the end of 2013, Soros Fund reported aggregate exposure to over 5.5 million shares, so this appears to be a decrease in aggregate exposure by around 3 million shares.  The filing was required due to activity on March 4th.

Soros Fund also filed a Form 4 with the SEC on DRIV and it indicates they received $153,750,000 plus accrued and unpaid interest on the 2.00% convertible bonds they disposed of.

In other activity, Soros Fund also started a Polycom stake recently.

Per Google Finance, Digital River "provides end-to-end global cloud-commerce, payments and marketing solutions to a wide variety of companies in software, consumer electronics, computer games, video games and other markets. The Company offers its clients a broad range of services that enable them to quickly and cost effectively establish an online sales channel capability and to subsequently manage and grow online sales on a global basis while mitigating risks. The Company is engaged in providing outsourced commerce solutions globally to a variety of companies, primarily in the software and consumer electronics product 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 via download, physical product fulfillment and subscription management."

Soros Fund Adds to Shutterfly (SFLY) & Digital River (DRIV) Convertibles

George Soros' family office Soros Fund Management recently filed a 13G on shares of Shutterfly (SFLY) and a Form 4 on Digital River (DRIV) with the SEC.

Shutterfly

Per the 13G filing, Soros Fund has revealed a 6.78% ownership stake in Shutterfly (SFLY) with 2,426,272 shares.

This is a massive increase in their position as they only owned 150,000 shares at the end of March.  In total, they've boosted their holdings in SFLY by 1,517%.  The filing was made due to portfolio activity on May 30th.

Per Google Finance, Shutterfly is "an Internet-based social expression and personal publishing service that enables consumers to share, print and preserve their memories its technology, manufacturing, Web-design and merchandising capabilities. The Company provides a range of personalized photo-based products and services that allow consumers to upload, edit, enhance, organize, find, share, create, print, and preserve their memories. It generate revenues by producing and selling professionally bound photo books, greeting cards and stationery, personalized calendars, other photo-based merchandise and prints ranging in size from wallet-sized to jumbo-sized 20x30 enlargements."


Digital River

Soros Fund also filed a separate Form 4 with the SEC regarding their position in Digital River.   Soros has acquired $18.5 million worth of 2.00% convertible bonds due November 1st, 2030 that are convertible at any time.  These were acquired on June 7th and 8th with a conversion/exercise price of $49.131.

After all was said and done, the Form 4 says that Soros owns $232 million worth of these derivative securities.  Just a few weeks ago we highlighted how Soros was acquiring Digital River bonds and that trend has continued.  The family office originally purchased a stake back in March of this year.

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. 


To see the rest of Soros Fund's latest equity portfolio, head to our Hedge Fund Wisdom newsletter.

Soros Fund Adds to Digital River (DRIV) Convertible Bond Stake

In a 13G filed with the SEC, George Soros' family office Soros Fund Management has disclosed a 10.13% stake in Digital River (DRIV) with 4,162,494 shares via convertible bonds. 

According to an SEC Form 3 filed as well, this stake is in the form of 2.00% convertible bonds due 2030 with a conversion price of 49.13.  These bonds are convertible at any time and mature on November 1st, 2030.


They also disclose an additional 128,974 share stake via 1.25% convertible bonds due 2024 with a conversion price of 44.06.
The investment firm has boosted their holdings by almost 35% in the past two months.  We previously posted when Soros started a stake in DRIV back in March.


Per Google Finance, Digital River "provides end-to-end global cloud-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 via 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."


For more on this firm, we've posted up why Soros owns Comverse Technology.

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.