13F filer · CIK 1029160 ↗
Soros Fund Management
You are looking at Q1 2025. See the latest, Q2 2026 →
Reported value
$6.70B
+0.9% on the quarter before
Positions
209
97 new · 78 sold out
Top 10
27.5%
of the value
Est. gain
−$112.5M
on stocks held all quarter
Est. return
−4.7%
on those stocks since Q4 2024
Positions as of Mar 31, 2025, from Soros Fund Management's 13F filing with the SEC. A 13F lists a manager's US-listed stocks and options at a quarter end and is filed up to 45 days later, so the fund may hold something else today. It leaves out short positions, cash and holdings outside the US.
Portfolio at a glance
- New
- Added
- Cut
- Same
- Options
The 24 largest positions, 49% of the reported value, each sized by its share, colored by what the fund did with it since Q4 2024. Striped tiles are options.
Largest buys
Since Q4 2024, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- First SolarCALL~$202.3MNew · 0.0% → 3.0%+1,600,000 underlying
- Spotify Usa Inc~$154.5MNew · 0.0% → 2.3%+129,500,000 shares
- CenterPoint Energy~$148.1MNew · 0.0% → 2.2%+136,500,000 shares
- SPDR S&P 500 ETF Tr~$109.5MAdded · 1.0% → 2.6%+195,800 shares
- American Electric Power~$96.0MNew · 0.0% → 1.4%+878,960 shares
- Flutter Entmt Plc~$95.2MAdded · 0.6% → 1.9%+429,910 shares
- Entergy~$93.6MNew · 0.0% → 1.4%+1,095,279 shares
- Ishares TrCALL~$76.5MAdded · 1.7% → 2.9%+840,000 underlying
- Select Sector SPDR TrPUT~$70.1MNew · 0.0% → 1.0%+750,000 underlying
- ApplePUT~$66.6MAdded · 0.6% → 1.5%+300,000 underlying
Largest sells
Since Q4 2024, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Akamai~$182.8MSold out · 2.8% → 0.0%−172,000,000 shares
- Ford Mtr Co~$167.3MCut · 2.8% → 0.3%−170,700,000 shares
- Ishares Tr~$166.1MSold out · 2.5% → 0.0%−751,800 shares
- Alphabet~$129.0MCut · 3.8% → 1.1%−833,923 shares
- Jd.Com Inc~$105.3MCut · 1.4% → 0.1%−2,561,320 shares
- Ishares TrPUT~$99.7MCut · 2.5% → 0.7%−500,000 underlying
- Kraneshares TrustPUT~$87.7MSold out · 1.3% → 0.0%−3,000,000 underlying
- Gallagher Arthur J & Co~$85.2MSold out · 1.3% → 0.0%−300,000 shares
- Cloudflare~$82.6MSold out · 1.2% → 0.0%−86,000,000 shares
- Wayfair Inc~$81.1MSold out · 1.2% → 0.0%−87,450,000 shares
Holdings
As of Mar 31, 2025. Changes are in shares against Dec 31, 2024, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Smurfit Westrock PlcSHS · shares −2.7% · price −16.3% | 4.6% | $308.8M | −$60.3M | ||||||||
| First SolarCALLCOM · shares New | 3.0% | $202.3M | — | ||||||||
| Astrazeneca PlcSPONSORED ADR · shares −13% · price +12.2% | 3.0% | $201.6M | +$21.9M | ||||||||
| Ishares TrCALL20 YR TR BD ETF · shares +64% | 2.9% | $195.7M | — | ||||||||
| SPDR S&P 500 ETF TrTR UNIT · shares +166% · price −4.6% | 2.6% | $175.5M | −$3.1M | ||||||||
| Rivian Automotive IncNOTE 4.625% 3/1 · shares −6.5% · price −3.4% | 2.3% | $156.0M | — | ||||||||
| DigitalOceanNOTE 12/0 · shares +16% · price +4.6% | 2.3% | $155.3M | — | ||||||||
| Spotify Usa IncNOTE 3/1 · shares New | 2.3% | $154.5M | — | ||||||||
| CenterPoint EnergyNOTE 4.250% 8/1 · shares New | 2.2% | $148.1M | — | ||||||||
| Gfl Environmental IncSUB VTG SHS · shares −5.0% · price +8.5% | 2.2% | $147.0M | +$11.5M | ||||||||
| Aercap Holdings NvSHS · shares −14% · price +6.8% | 2.0% | $130.8M | +$8.3M | ||||||||
| Dropbox IncNOTE 3/0 · shares 0% · price −0.5% | 1.9% | $129.5M | — | ||||||||
| Flutter Entmt PlcSHS · shares +285% · price −14.3% | 1.9% | $128.7M | −$5.6M | ||||||||
| SPDR S&P 500 ETF TrPUTTR UNIT · shares −33% | 1.7% | $111.9M | — | ||||||||
| ApplePUTCOM · shares +200% | 1.5% | $100.0M | — | ||||||||
| Dropbox IncNOTE 3/0 · shares 0% · price −3.7% | 1.5% | $98.5M | — | ||||||||
| American Electric PowerCOM · shares New | 1.4% | $96.0M | — | ||||||||
| Liberty Broadband CorpCOM SER C · shares 0% · price +13.8% | 1.4% | $95.2M | +$11.5M | ||||||||
| EntergyCOM · shares New | 1.4% | $93.6M | — | ||||||||
| Wayfair IncNOTE 3.250% 9/1 · shares +50% · price −8.2% | 1.4% | $92.2M | — | ||||||||
| SalesforceCOM · shares +15% · price −19.7% | 1.4% | $92.0M | −$19.6M | ||||||||
| Marriott Vacations WorldwideNOTE 1/1 · shares 0% · price +1.1% | 1.4% | $91.0M | — | ||||||||
| AmazonCOM · shares +31% · price −13.3% | 1.2% | $82.5M | −$9.7M | ||||||||
| OktaNOTE 0.125% 9/0 · shares 0% · price +1.7% | 1.2% | $77.6M | — | ||||||||
| AlphabetCAP STK CL A · shares −63% · price −18.3% | 1.1% | $76.9M | −$17.2M | ||||||||
| Total · 209 positions | 100% | $6.70B | −$112.5M |
Price is a stock's reported value over its shares at the quarter end. The estimated gain is the shares held at both quarter ends times the change in that price: shares bought or sold during the quarter add nothing, options are left out, and a stock split is read into the earlier share count and price.
What made money
From Q4 2024 to Q1 2025: 87 stocks held throughout, down $112.5M (−4.7%).
- Astrazeneca Plc+$21.9M+12%
- Liberty Broadband Corp+$11.5M+14%
- Gfl Environmental Inc+$11.5M+8%
- Aercap Holdings Nv+$8.3M+7%
- Uber+$8.0M+21%
- Amazon−$9.7M−13%
- First Solar−$10.8M−28%
- Alphabet−$17.2M−18%
- Salesforce−$19.6M−20%
- Smurfit Westrock Plc−$60.3M−16%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out.
Reported value by quarter
The total value of each quarter's 13F at that quarter end. It moves with prices as well as with buying and selling. Pick a quarter to see what the fund held then.
Every quarter's filing
| Quarter | Reported value | Filing | |
|---|---|---|---|
| Q2 2026 | Aug 14, 2026 | $8.14B−11% | SEC ↗ |
| Q1 2026 | May 15, 2026 | $9.12B+6% | SEC ↗ |
| Q4 2025 | Feb 13, 2026 | $8.63B+23% | SEC ↗ |
| Q3 2025 | Nov 14, 2025 | $7.02B−12% | SEC ↗ |
| Q2 2025 | Aug 14, 2025 | $7.97B+19% | SEC ↗ |
| Q1 2025 | May 15, 2025 | $6.70B+1% | SEC ↗ |
| Q4 2024 | Feb 14, 2025 | $6.65B−4% | SEC ↗ |
| Q3 2024 | Nov 14, 2024 | $6.92B+24% | SEC ↗ |
| Q2 2024 | Aug 14, 2024 | $5.57B−7% | SEC ↗ |
| Q1 2024 | May 15, 2024 | $6.02B−21% | SEC ↗ |
| Q4 2023 | Feb 14, 2024 | $7.65B+9% | SEC ↗ |
| Q3 2023 | Nov 14, 2023 | $7.05B+10% | SEC ↗ |
| Q2 2023 | Aug 11, 2023 | $6.41B−1% | SEC ↗ |
| Q1 2023 | May 12, 2023 | $6.49B−11% | SEC ↗ |
| Q4 2022 | Feb 13, 2023 | $7.26B+24% | SEC ↗ |
| Q3 2022 | Nov 14, 2022 | $5.86B+4% | SEC ↗ |
| Q2 2022 | Aug 12, 2022 | $5.62B−15% | SEC ↗ |
| Q1 2022 | May 13, 2022 | $6.57B−10% | SEC ↗ |
| Q4 2021 | Feb 11, 2022 | $7.31B+35% | SEC ↗ |
| Q3 2021 | Nov 12, 2021 | $5.42B−9% | SEC ↗ |
| Q2 2021 | Aug 13, 2021 | $5.93B+11% | SEC ↗ |
| Q1 2021 | May 14, 2021 | $5.33B+1% | SEC ↗ |
| Q4 2020 | Feb 16, 2021 | $5.30B+30% | SEC ↗ |
| Q3 2020 | Nov 13, 2020 | $4.08B−9% | SEC ↗ |
| Q2 2020 | Aug 14, 2020 | $4.48B+127% | SEC ↗ |
| Q1 2020 | May 15, 2020 | $1.98B−36% | SEC ↗ |
| Q4 2019 | Feb 14, 2020 | $3.09B−14% | SEC ↗ |
| Q3 2019 | Nov 14, 2019 | $3.61B−15% | SEC ↗ |
| Q2 2019 | Aug 14, 2019 | $4.27B−1% | SEC ↗ |
| Q1 2019 | May 15, 2019 | $4.31B+31% | SEC ↗ |
| Q4 2018 | Feb 14, 2019 | $3.30B−28% | SEC ↗ |
| Q3 2018 | Nov 14, 2018 | $4.56B−27% | SEC ↗ |
| Q2 2018 | Aug 14, 2018 | $6.25B+1% | SEC ↗ |
| Q1 2018 | May 15, 2018 | $6.16B+41% | SEC ↗ |
| Q4 2017 | Feb 14, 2018 | $4.37B+4% | SEC ↗ |
| Q3 2017 | Nov 14, 2017 | $4.20B−25% | SEC ↗ |
| Q2 2017 | Aug 14, 2017 | $5.62B+13% | SEC ↗ |
| Q1 2017 | May 15, 2017 | $4.96B+15% | SEC ↗ |
| Q4 2016 | Feb 14, 2017 | $4.32B+8% | SEC ↗ |
| Q3 2016 | Nov 14, 2016 | $4.00B−14% | SEC ↗ |
| Q2 2016 | Aug 15, 2016 | $4.68B+3% | SEC ↗ |
| Q1 2016 | May 16, 2016 | $4.53B | SEC ↗ |