Soros Fund Management's Third Quarter Investments

Soros Fund Management, the investment firm founded by billionaire George Soros, made significant moves during the third quarter, taking new positions and increasing holdings in various tech companies. However, it also sold off smaller holdings in some major players like Nvidia Corp. and Microsoft Corp., as well as electric-vehicle maker Rivian Automotive.

New Positions and Bulked Up Holdings

During the third quarter, Soros Fund Management acquired 325,000 shares of chip designer Arm Holdings, which recently went public in September, for a total of $17.4 million. It also invested in recent IPOs such as Maplebear Inc., commonly known as Instacart, and Klaviyo Inc., a digital-marketing firm. These purchases were made cautiously as investors remain wary of new IPOs.

The firm also established new positions in Apple Inc. and Datadog Inc., buying 41,000 shares and 62,000 shares respectively during the quarter. Additionally, Soros Fund Management acquired 574,962 shares of Splunk, and took fresh positions in Snowflake Inc. and Taiwan Semiconductor.

Increased Holdings in Tech Companies

Soros Fund Management increased its stake in Uber Technologies Inc., adding 125,000 shares for a total of 878,955 shares, representing a 16.6% increase. It also bought an additional 42,000 shares of gig-economy player DoorDash Inc., resulting in a 30.9% increase for a total of 178,075 shares.

Sales and Reductions

While increasing its stake in General Motors, Soros Fund Management sold off its 4.2 million shares in Rivian. The firm also sold off its positions in tech giants Microsoft and Nvidia, selling approximately 10,000 shares each.

Conclusion

In summary, Soros Fund Management made strategic moves during the third quarter, acquiring new positions, increasing holdings, and selling off certain stocks. Such decisions reflect the firm's ongoing evaluation of the market and its commitment to adapting its portfolio accordingly.