Soros Fund reports sizable stakes in convertibles in quarterly tally

By Jennifer Chiou

New York, Nov. 15 - Soros Fund Management LLC disclosed its investment holdings through Sept. 30, including substantial stakes in convertible securities, in a 13F-HR filed with the Securities and Exchange Commission.

Among the largest overall investments in various issuers - including non-convertibles - are the following:

• $118.74 million total of Arris Group Inc.'s 2% convertibles due 2026 combined with other securities;

• $127.21 million of Cadence Design System Inc.'s 1.375% convertibles due 2011 and $102.33 million total of the issuer's 1.5% convertibles due 2013 and other securities;

• $74.59 million of Ceradyne Inc.'s convertibles due 2035 and other securities;

• $221.96 million of JDS Uniphase Corp.'s 1.875% convertibles due 2014 and other securities;

• $643.37 million of NII Holdings Inc.'s 3.125% convertibles due 2012 and other securities;

• $477.6 million of Micron Technology Corp.'s 3% convertibles due 2027 and other securities;

• $62.5 million of Newport Corp.'s 2.5% convertibles due 2012 and other securities;

• $88.22 million of Orbital Sciences Corp.'s convertibles due 2027 and other securities;

• $270 million of SanDisk Corp.'s 1% convertibles due 2013 and other securities;

• $881 million of China Ming Yang Wind Power Group's 2% convertibles due 2026 and other securities; and

• $206.82 million of Linear Technology Corp.'s 3% convertibles due 2027 when added with other securities.

Of the larger investments, the overall Soros stake in NII increased from $205.72 million in the prior quarter while the China Ming Yang holdings rose from $2.09 million in the same period.

At the same time, Soros' Micron stake rose from $18.96 million from the quarter ended June 30 to the third quarter.

According to the quarterly filings, the SanDisk stake was newly acquired in the third quarter.

The total market value of the Soros Fund investment holdings was nearly $5.83 billion, the quarterly report through Sept. 30 said.

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