13F filer · CIK 1029160 ↗
Soros Fund Management
You are looking at Q4 2025. See the latest, Q2 2026 →
Reported value
$8.63B
+23% on the quarter before
Positions
244
134 new · 74 sold out
Top 10
27.5%
of the value
Est. gain
+$94.7M
on stocks held all quarter
Est. return
+3.4%
on those stocks since Q3 2025
Positions as of Dec 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, 46% of the reported value, each sized by its share, colored by what the fund did with it since Q3 2025. Striped tiles are options.
Largest buys
Since Q3 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.
- SPDR Series TrustPUT~$415.5MNew · 0.0% → 4.8%+3,290,700 underlying
- Jazz Investments I Ltd~$173.2MNew · 0.0% → 2.0%+149,399,000 shares
- Select Sector SPDR TrPUT~$162.7MNew · 0.0% → 1.9%+3,639,800 underlying
- CoreWeavePUT~$123.2MNew · 0.0% → 1.4%+1,720,100 underlying
- Dayforce Inc~$103.0MNew · 0.0% → 1.2%+1,489,221 shares
- Exact Sciences Corp~$87.7MNew · 0.0% → 1.0%+864,009 shares
- New Gold Inc Cda~$84.4MNew · 0.0% → 1.0%+9,691,998 shares
- Bill Holdings Inc~$83.3MNew · 0.0% → 1.0%+90,385,000 shares
- Confluent Inc~$81.3MNew · 0.0% → 0.9%+2,689,913 shares
- Microsoft~$78.0MAdded · 0.8% → 1.5%+161,298 shares
Largest sells
Since Q3 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.
- Smurfit Westrock Plc~$206.7MCut · 4.7% → 1.1%−5,344,942 shares
- Invesco Exchange Traded Fd T~$139.0MCut · 2.2% → 0.2%−725,548 shares
- Ford Mtr Co~$137.7MSold out · 2.0% → 0.0%−135,788,000 shares
- Ishares TrCALL~$132.7MSold out · 1.9% → 0.0%−3,225,000 underlying
- CenterPoint Energy~$104.0MCut · 1.6% → 0.1%−95,000,000 shares
- Kraneshares TrustCALL~$100.8MSold out · 1.4% → 0.0%−2,400,000 underlying
- Southern Company~$94.0MSold out · 1.3% → 0.0%−84,500,000 shares
- Ishares TrCALL~$89.4MSold out · 1.3% → 0.0%−1,000,000 underlying
- Aramark~$87.2MSold out · 1.2% → 0.0%−2,270,287 shares
- Flutter Entmt Plc~$85.5MCut · 1.8% → 0.2%−397,403 shares
Holdings
As of Dec 31, 2025. Changes are in shares against Sep 30, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AmazonCOM · shares +6.0% · price +5.1% | 6.3% | $544.6M | +$25.0M | ||||||||
| SPDR Series TrustPUTSTATE STREET SPD · shares New | 4.8% | $415.5M | — | ||||||||
| Spotify Usa IncNOTE 3/1 · shares +5.2% · price −17.0% | 2.6% | $221.2M | — | ||||||||
| AlphabetCAP STK CL A · shares −2.9% · price +28.8% | 2.3% | $200.0M | +$44.7M | ||||||||
| Rivian Automotive IncNOTE 4.625% 3/1 · shares −3.4% · price +21.0% | 2.1% | $180.3M | — | ||||||||
| Global Pmts IncNOTE 1.500% 3/0 · shares −17% · price −1.9% | 2.0% | $175.7M | — | ||||||||
| Jazz Investments I LtdNOTE 2.000% 6/1 · shares New | 2.0% | $173.2M | — | ||||||||
| Select Sector SPDR TrPUTSTATE STREET ENE · shares New | 1.9% | $162.7M | — | ||||||||
| Confluent IncNOTE 1/1 · shares +74% · price +3.4% | 1.9% | $160.8M | — | ||||||||
| SalesforceCOM · shares +12% · price +11.8% | 1.6% | $137.6M | +$12.9M | ||||||||
| Dropbox IncNOTE 3/0 · shares +12% · price +0.2% | 1.6% | $137.6M | — | ||||||||
| Pg&E CorpNOTE 4.250%12/0 · shares −15% · price +1.7% | 1.6% | $137.5M | — | ||||||||
| Tko Group Holdings IncCL A · shares +2.5% · price +3.5% | 1.5% | $132.8M | +$4.4M | ||||||||
| MicrosoftCOM · shares +159% · price −6.6% | 1.5% | $127.2M | −$3.5M | ||||||||
| NvidiaCOM · shares +22% · price −0.0% | 1.4% | $124.1M | −$43,817 | ||||||||
| CoreWeavePUTCOM CL A · shares New | 1.4% | $123.2M | — | ||||||||
| AppleCOM · shares +19% · price +6.8% | 1.3% | $113.2M | +$6.0M | ||||||||
| Kodiak Ai Inc.COM · shares 0% · price +59.6% | 1.3% | $108.9M | +$40.7M | ||||||||
| TSMCSPONSORED ADS · shares +157% · price +8.8% | 1.2% | $106.3M | +$3.3M | ||||||||
| Vaneck ETF TrustPUTSEMICONDUCTR ETF · shares −6.5% | 1.2% | $104.4M | — | ||||||||
| Dayforce IncCOM · shares New | 1.2% | $103.0M | — | ||||||||
| SPDR S&P 500 ETF TrPUTTR UNIT · shares −21% | 1.2% | $102.3M | — | ||||||||
| SPDR S&P 500 ETF TrTR UNIT · shares +45% · price +2.4% | 1.1% | $96.6M | +$1.5M | ||||||||
| Dropbox IncNOTE 3/0 · shares 0% · price −2.3% | 1.1% | $93.4M | — | ||||||||
| Smurfit Westrock PlcSHS · shares −69% · price −9.2% | 1.1% | $92.9M | −$9.4M | ||||||||
| Total · 244 positions | 100% | $8.63B | +$94.7M |
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 Q3 2025 to Q4 2025: 86 stocks held throughout, up $94.7M (+3.4%).
- Alphabet+$44.7M+29%
- Kodiak Ai Inc.+$40.7M+60%
- Amazon+$25.0M+5%
- Indivior Plc+$13.6M+49%
- Salesforce+$12.9M+12%
- DoorDash−$4.8M−17%
- Evgo Inc−$7.3M−38%
- Smurfit Westrock Plc−$9.4M−9%
- Pony Ai Inc−$9.8M−36%
- Dupont De Nemours Inc−$13.9M−48%
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 ↗ |