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George Soros' Investment Firm Takes Position In Tesla, Bulks Up On These Tech Stocks In Q2

Billionaire investor George Soros’ investment management firm, Soros Fund Management LLC, opened a fresh position in electric vehicle pioneer Tesla, Inc. (NASDAQ: TSLA) and doubled down on beaten-down tech stocks.

EV Holdings: Soros Fund bought 29,883 shares in Tesla, during a quarter when the company came under significant selling amid production disruptions and CEO Elon Musk’s interest in buying Twitter, Inc. (NYSE: TWTR). The firm, however, either completely liquidated or trimmed positions in other EV and EV-related stocks.

  • Fisker, Inc. (NASDAQ: FSR): complete liquidation (from 317,300 in Q1)
  • Lithium-ion recycling company Li-Cycle Holdings Corp.(NYSE: LICY): complete liquidation (from 85,248 shares in Q1)
  • Proterra Inc. (NASDAQ: PTRA): 2.82 million shares (down from about 8 million in Q1)
  • Rivian Automotive, Inc. (NASDAQ: RIVN): 17.8 million shares (down from 19.8 million in Q1)

The Soros-run firm sold its entire stake in ride-hailing service Lyft, Inc. (NASDAQ: LYFT) and reduced Uber Technologies, Inc. (NYSE: UBER) holdings from 729,297 at the end of the first quarter to 300,000 in Q2.

Soros Exits Positions In UK Oil Giants: The firm sold all of its 3,000 shares in BP plc. (NYSE: BP) and 13,005 shares of Shell plc (NYSE: SHEL). Oil stocks gained during the quarter amid an increase in crude oil prices.

Read Ray Dalio-run Bridgewater Associates' portfolio changes in Q2

Tech Holdings: Soros Fund increased its bets on tech stocks. The firm took a position in Twitter in the first quarter, buying 100,001 shares amid the Musk takeover saga. The firm's other tech transactions were as follows:

  • Alphabet, Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG): 53,175 shares (up from 36,715 in Q1)
  • Amazon, Inc. (NASDAQ: AMZN): 2 million shares (up from 74,401 in Q1); Bulk of the increase is due to the additional received as part of the e-commerce giant’s 20-for-1 stock. Stripping off the increase due to the stock split, the firm still added close to 600,000 shares.
  • Qualcomm, Inc. (NASDAQ: QCOM): 229,582 shares (up from 21,108 in Q1)
  • Salesforce, Inc. (NYSE: CRM): 627,509 shares (up from 157,046 in Q1)
  • Snowflake, Inc. (NYSE: SNOW): 101,797 shares (up from 13,000 in Q1)
  • Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSM): 63,367 shares (down from 108,500 shares in Q1)