George Soros made a big bet on Paypal

Soros Fund Management has a number of new stock picks.

One of them is PayPal Holdings, the e-commerce payment provider that was spun from eBay earlier this year.

The position was disclosed in the Soros Fund Management 13-F filing, which sets out the fund’s long positions as of the end of the third quarter.

Soros’ position amounts to a bet of more than $US137 million, or more than 4.4 million shares. That makes it his ninth biggest holding.

PayPal stock shot up for more than 11% the day it began trading earlier this year, but in the time since its stock price has been down slightly.

The company’s shares rose 3% November 16, the day that Soros Fund Management revealed its holdings.

Other new holdings for Soros’ fund include CIT Group, in which the fund invested more than $US112 million. CIT shares are down more than 13% so far this year.

Soros Fund Management also made smaller bets on energy infrastructure firm Schlumberger Ltd., Kraft Heinz Co. and Amazon.com.

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