Billionaires Soros, Loeb Cut YPF Holdings as Oil Prices Tumble
This article is for subscribers only.
Billionaire fund managers George Soros, Daniel Loeb and Richard Perry cut their stakes in Argentine state-run oil company YPF SA in the third quarter as Brent crude posted the biggest losses since 2012.
Soros Fund Management LLC sold about $17 million of YPF American depositary receipts to take a 3.4 percent stake in the company as of Sept. 30, according to a Nov. 14 filing. Loeb’s Third Point LLC reduced its holding by 2.5 million shares, or $92.5 million, to a less than 1 percent stake. Perry Capital LLC said Nov. 13 it sold some of its YPF shares in the period, leaving it with a 1.2 percent holding.