Fund managers usually discuss their investments. Billionaire investor George Soros is the opposite.
His family office, Soros Fund Management, issued a statement criticizing one of its holdings, Palantir Technologies PLTR,
after filing with the Securities and Exchange Commission revealed that it had an approximately 1% stake in the data analysis company.
“SFM does not approve of Palantir’s business practices. SFM made this investment at a time when the negative social consequences of big data were less understood. SFM would not invest in Palantir today. ”
This is a statement published on the Soros website for an open society. The statement explained that the investment was made by a portfolio manager at the company in 2012, when Palantir was private. When Palantir became public, Soros’s investment was converted into shares in the public company.
“SFM has sold all shares in the company that it is not required by law or contract to own and will continue to sell shares as permitted,” the statement added.
Palantir criticizes the work she has done for the US government, in particular the US Immigration and Law Enforcement Agency.
Investors have taken care of the company, as its shares have almost doubled in its short history as a public company.
Soros Fund Management, now a family office, has assets worth about $ 4 billion.