Soros, which has been betting on Herbalife for roughly two years, said in a regulatory filing that it liquidated its position by selling nearly 2 million shares during the third quarter. Soros oversees the private fortune of investor and philanthropist George Soros and his family.
While Soros himself is no longer making investment calls, the firm's involvement in Herbalife nonetheless drew battle lines between the hedge fund industry's elder statesmen and one of its new stars.
Soros and Carl Icahn supported the nutrition and weight loss company while Ackman has accused Herbalife of running a pyramid scheme in which members are paid more for recruiting new members than for selling the product. Herbalife denies the allegations.