13F filer · CIK 1029160 ↗
Soros Fund Management
You are looking at Q2 2025. See the latest, Q2 2026 →
Reported value
$7.97B
+19% on the quarter before
Positions
202
80 new · 87 sold out
Top 10
28.1%
of the value
Est. gain
+$324.3M
on stocks held all quarter
Est. return
+14.6%
on those stocks since Q1 2025
Positions as of Jun 30, 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 Q1 2025. Striped tiles are options.
Largest buys
Since Q1 2025, 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.
- Invesco Qqq TrCALL~$220.7MNew · 0.0% → 2.8%+400,000 underlying
- SPDR S&P 500 ETF TrPUT~$208.5MAdded · 1.7% → 4.2%+337,500 underlying
- Global Pmts Inc~$179.4MNew · 0.0% → 2.3%+200,000,000 shares
- Ishares TrPUT~$172.6MAdded · 0.7% → 2.8%+800,000 underlying
- Select Sector SPDR TrPUT~$113.4MNew · 0.0% → 1.4%+1,400,000 underlying
- Brown & Brown Inc~$110.9MNew · 0.0% → 1.4%+1,000,000 shares
- Pg&E Corp~$104.3MAdded · 0.9% → 2.1%+105,000,000 shares
- Select Sector SPDR TrPUT~$103.3MNew · 0.0% → 1.3%+700,000 underlying
- Ishares TrPUT~$89.4MNew · 0.0% → 1.1%+1,000,000 underlying
- Southern Company~$84.6MNew · 0.0% → 1.1%+77,000,000 shares
Largest sells
Since Q1 2025, 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.
- Astrazeneca Plc~$201.6MSold out · 3.0% → 0.0%−2,742,498 shares
- Ishares TrCALL~$195.7MSold out · 2.9% → 0.0%−2,150,000 underlying
- SPDR S&P 500 ETF Tr~$164.4MCut · 2.6% → 0.4%−266,022 shares
- American Electric Power~$96.0MSold out · 1.4% → 0.0%−878,960 shares
- Alphabet~$82.9MCut · 1.1% → 0.1%−470,488 shares
- ApplePUT~$76.9MCut · 1.5% → 0.2%−375,000 underlying
- Goldman Sachs~$71.1MCut · 1.0% → 0.2%−100,442 shares
- Select Sector SPDR TrPUT~$70.1MSold out · 1.0% → 0.0%−750,000 underlying
- Wayfair Inc~$64.4MCut · 1.4% → 0.5%−56,500,000 shares
- Jpmorgan Chase & Co.~$56.7MSold out · 0.8% → 0.0%−230,963 shares
Holdings
As of Jun 30, 2025. Changes are in shares against Mar 31, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPDR S&P 500 ETF TrPUTTR UNIT · shares +169% | 4.2% | $332.1M | — | ||||||||
| Smurfit Westrock PlcSHS · shares +9.2% · price −4.2% | 4.1% | $322.8M | −$13.1M | ||||||||
| First SolarCALLCOM · shares +2.4% | 3.4% | $271.2M | — | ||||||||
| Ishares TrPUTRUSSELL 2000 ETF · shares +320% | 2.8% | $226.6M | — | ||||||||
| Invesco Qqq TrCALLUNIT SER 1 · shares New | 2.8% | $220.7M | — | ||||||||
| Spotify Usa IncNOTE 3/1 · shares +10% · price +27.0% | 2.7% | $215.9M | — | ||||||||
| Global Pmts IncNOTE 1.500% 3/0 · shares New | 2.3% | $179.4M | — | ||||||||
| Pg&E CorpNOTE 4.250%12/0 · shares +175% · price −6.4% | 2.1% | $163.9M | — | ||||||||
| DigitalOceanNOTE 12/0 · shares 0% · price +0.3% | 2.0% | $155.8M | — | ||||||||
| Rivian Automotive IncNOTE 4.625% 3/1 · shares −6.9% · price +4.1% | 1.9% | $151.3M | — | ||||||||
| CenterPoint EnergyNOTE 4.250% 8/1 · shares 0% · price −0.0% | 1.9% | $148.0M | — | ||||||||
| Gfl Environmental IncSUB VTG SHS · shares −6.3% · price +4.5% | 1.8% | $143.9M | +$6.1M | ||||||||
| Liberty Broadband CorpCOM SER C · shares +29% · price +15.7% | 1.8% | $141.7M | +$14.9M | ||||||||
| Flutter Entmt PlcSHS · shares −16% · price +29.0% | 1.8% | $140.0M | +$31.5M | ||||||||
| Interactive Brokers Group InCOM CL A · shares +2.5% · price +268.1% | 1.6% | $123.8M | +$88.0M | ||||||||
| Dropbox IncNOTE 3/0 · shares −5.7% · price +0.4% | 1.5% | $122.6M | — | ||||||||
| Select Sector SPDR TrPUTSBI CONS STPLS · shares New | 1.4% | $113.4M | — | ||||||||
| Brown & Brown IncCOM · shares New | 1.4% | $110.9M | — | ||||||||
| SalesforceCOM · shares +14% · price +1.6% | 1.3% | $106.3M | +$1.5M | ||||||||
| Select Sector SPDR TrPUTINDL · shares New | 1.3% | $103.3M | — | ||||||||
| Aercap Holdings NvSHS · shares −36% · price +14.5% | 1.2% | $95.5M | +$12.1M | ||||||||
| Dropbox IncNOTE 3/0 · shares −7.5% · price +3.0% | 1.2% | $93.8M | — | ||||||||
| Marriott Vacations WorldwideNOTE 1/1 · shares 0% · price +1.1% | 1.2% | $92.0M | — | ||||||||
| EntergyCOM · shares −1.6% · price −2.8% | 1.1% | $89.6M | −$2.6M | ||||||||
| Ishares TrPUTMSCI EAFE ETF · shares New | 1.1% | $89.4M | — | ||||||||
| Total · 202 positions | 100% | $7.97B | +$324.3M |
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 Q1 2025 to Q2 2025: 89 stocks held throughout, up $324.3M (+14.6%).
- Interactive Brokers Group In11:1 split+$88.0M+268%
- Flutter Entmt Plc+$31.5M+29%
- Liberty Broadband Corp+$14.9M+16%
- Standardaero Inc+$13.4M+19%
- Ul Solutions Inc+$12.5M+29%
- Brighthouse Finl Inc−$2.2M−7%
- Entergy−$2.6M−3%
- Primo Brands Corporation−$2.9M−17%
- Smurfit Westrock Plc−$13.1M−4%
- Unitedhealth Group Inc−$15.1M−40%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 1 split read into the share counts.
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 ↗ |