Soros Takes a Stake in Microsoft

Soros Fund Management LLC purchased a significant new stake in Microsoft Corp.MSFT -0.35% in the quarter that ended Sept. 30, as the technology giant continues to search for a new chief executive amid a series of broad company changes.

The hedge fund, founded by billionaire investor George Soros, held firm its stake in nutrition company Herbalife Ltd.HLF +1.86%, but lowered its stakes in J.C. Penney Co.JCP +0.23% and Google Inc.GOOG +0.27% The fund raised its stake in Chevron Corp.CVX +0.39% and purchased a new stake of 1.6 million shares in FedEx Corp.FDX +0.85%

Mr. Soros’s apparent push into Microsoft comes on the heels of CEO Steve Ballmer announcing his sudden retirement in late August from the firm where he had worked for more than three decades. Mr. Ballmer and company founder Bill Gates had built Microsoft into a technology giant, but the company has found its overall influence weakened by rivals such as AppleAAPL +1.45% and Google. As of Sept. 30, Mr. Soros owned 12.6 million shares of Microsoft.