George Soros offloads shares bought during Bill Hwang’s Archegos implosion

George Soros’s investment company, which snapped up shares sold off in massive blocks during the collapse of Bill Hwang’s Archegos Capital Management, has exited the positions.

Soros Fund Management sold $194.3 million of shares in ViacomCBS, $77m of Baidu shares and $46.4m of stock in Vipshop Holdings, according to a regulatory filing. The billionaire’s company also liquidated positions in Tencent Music Entertainment Group and Discovery.

The sales are nearly identical in size to the purchases Mr Soros’s investment company disclosed at the end of the first quarter. Archegos, the family office of former hedge fund manager Mr Hwang, fell apart during the last week of March after amassing large leveraged positions in a concentrated portfolio of US and Chinese companies.

Most of the Archegos-linked stocks extended their slide in the second quarter. Vipshop plunged 33 per cent in the…