Soros Fund Management

Q4 2023 13F · by Dawn Fitzpatrick, CIO

As of: Dec 31, 2023
Filed: Feb 14, 2024
US stock: $2.8B · prev $3.0B
Positions: 117 · prev 122
Options notional: $2.4B
Documents: 1· no amendments

Picture36.1% US stock

Fragment picture · of what this 13F reports is US stock

US stock listed on a US exchange 36.1%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 32.8%
Puts at notional value 19.6%
Calls at notional value 11.4%

Moves223 since the prior filing

+41.1 pp in · −42.3 pp out

New 48 +13.89 pp
Added 30 +27.22 pp
Trimmed 23 −2.54 pp
Exited 53 −39.76 pp

Options: 69 moves on a notional base, in the table below.

The book

Focused · behaves like 27 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 325% a year, about 0.3 years per position

Low
Moderate
High

Top 5 positions36% of US stock

SPLK Splunk Inc added+5.94 pp added+5.948.7%
IWM iShares Russell 2000 ETF added+7.76 pp added+7.768.7%
AER Aercap Holdings N.V. added+2.80 pp added+2.806.6%
GOOGL Alphabet Inc. Class A trimmed+0.10 pp trimmed+0.106.2%
NVO Novo-Nordisk A/S added+1.24 pp added+1.245.8%

Positions117 in this filing · 53 exited


SPLKSplunk Inc	8.71%	1,580,001	$241M	added×2.7	+5.94 pp	2 q
IWMiShares Russell 2000 ETF	8.70%	1,198,023	$240M	added×7.5	+7.76 pp	2 q
AERAercap Holdings N.V.	6.64%	2,469,496	$184M	added+33%	+2.80 pp	4 q
GOOGLAlphabet Inc. Class A	6.16%	1,219,080	$170M	trimmed−13%	+0.10 pp	19 q
NVONovo-Nordisk A/S	5.82%	1,554,830	$161M	added+2%	+1.24 pp	2 q
LBRDKLiberty Broadband Corporation Class C	4.05%	1,389,893	$112M	held	—	31 q
CRHCRH Public Limited Company	3.64%	1,455,874	$101M	trimmed−30%	−0.09 pp	2 q
AELAmerican Equity Investment Life Holding Company	3.31%	1,638,590	$91M	added+23%	+0.95 pp	2 q
AMZNAmazon.Com Inc	3.06%	556,961	$85M	trimmed−27%	−0.14 pp	13 q
SPYState Street SPDR S&P 500 ETF Trust	2.85%	165,498	$79M	new	+2.85 pp	new
FEZState Street SPDR EURO STOXX 50 ETF	2.38%	1,374,700	$66M	held	—	5 q
BKNGBooking Holdings Inc.	2.02%	15,750	$56M	added+13%	+0.60 pp	6 q
JJacobs Solutions Inc.	1.74%	369,558	$48M	added+87%	+0.85 pp	3 q
UBERUber Technologies, Inc.	1.54%	692,455	$43M	trimmed−21%	+0.21 pp	7 q
CBOECboe Global Markets, Inc.	1.44%	223,340	$40M	trimmed−33%	−0.27 pp	6 q
ACNAccenture PLC	1.37%	107,862	$38M	added+10%	+0.38 pp	11 q
SRESempra	1.35%	500,000	$37M	added×5.8	+1.16 pp	2 q
EMXCiShares MSCI Emerging Markets ex China ETF	1.29%	642,500	$36M	held	—	4 q
INDIindie Semiconductor, Inc. Class A	1.21%	4,119,100	$33M	trimmed−25%	+0.06 pp	11 q
LVSLas Vegas Sands Corp.	1.19%	665,535	$33M	added+29%	+0.41 pp	2 q
BIRKBirkenstock Holding plc	1.10%	625,000	$30M	new	+1.10 pp	new
KWEBKraneShares CSI China Internet ETF	1.07%	1,092,821	$30M	trimmed−14%	−0.08 pp	4 q
MUBiShares National Muni Bond ETF	0.95%	241,400	$26M	held	—	16 q
NKENike, Inc.	0.93%	236,720	$26M	held	—	13 q
MRKMerck & Co., Inc.	0.89%	225,000	$25M	new	+0.89 pp	new
NBIXNeurocrine Biosciences Inc	0.88%	185,000	$24M	added×3.4	+0.68 pp	2 q
SNOWSnowflake Inc.	0.86%	118,800	$24M	added+65%	+0.50 pp	2 q
TECKTeck Resources Limited	0.77%	503,383	$21M	added+77%	+0.36 pp	2 q
IBKRInteractive Brokers Group, Inc. Class A	0.76%	254,713	$21M	added+1%	+0.04 pp	8 q
DDOGDatadog, Inc. Class A	0.73%	165,590	$20M	added×2.7	+0.54 pp	2 q
RNRRenaissanceRe Holdings Ltd.	0.71%	100,270	$20M	trimmed−10%	−0.02 pp	3 q
LLYEli Lilly & Co.	0.70%	33,000	$19M	new	+0.70 pp	new
CMECME Group Inc.	0.68%	88,960	$19M	added+10%	+0.15 pp	29 q
DASHDoorDash, Inc. Class A	0.67%	188,075	$19M	added+6%	+0.20 pp	4 q
AVTRAvantor, Inc.	0.66%	800,000	$18M	new	+0.66 pp	new
INTUIntuit Inc	0.64%	28,414	$18M	trimmed−62%	−0.61 pp	10 q
CSXCSX Corporation	0.63%	504,261	$17M	added+49%	+0.29 pp	4 q
BGCBGC Group, Inc. Class A	0.61%	2,317,263	$17M	trimmed−8%	+0.17 pp	2 q
ISRGIntuitive Surgical Inc.	0.61%	50,000	$17M	new	+0.61 pp	new
SNYSanofi	0.58%	325,000	$16M	added+51%	+0.20 pp	2 q
VFHVanguard Financials ETF	0.58%	174,588	$16M	held	—	5 q
REGNRegeneron Pharmaceuticals Inc	0.56%	17,500	$15M	new	+0.56 pp	new
NYCBFlagstar Bank, National Association	0.55%	1,476,180	$15M	added×3.4	+0.39 pp	2 q
ARMKAramark	0.53%	518,240	$15M	new	+0.53 pp	new
ILMNIllumina Inc	0.50%	100,000	$14M	new	+0.50 pp	new
TEAMAtlassian Corporation Class A	0.49%	56,647	$13M	added×3.8	+0.39 pp	5 q
CIThe Cigna Group	0.49%	45,000	$13M	trimmed−18%	−0.03 pp	2 q
DXCMDexCom, Inc.	0.49%	110,000	$14M	trimmed−41%	−0.08 pp	2 q
ALLThe Allstate Corporation	0.47%	93,370	$13M	added×2.1	+0.31 pp	2 q
VSTSVestis Corporation	0.45%	584,120	$12M	trimmed−23%	−0.04 pp	2 q
HONHoneywell International, Inc.	0.43%	56,668	$12M	added+86%	+0.24 pp	2 q
NSCNorfolk Southern Corp.	0.43%	49,818	$12M	added+67%	+0.24 pp	4 q
CPKChesapeake Utilities	0.38%	100,000	$11M	new	+0.38 pp	new
CWANClearwater Analytics Hds-a	0.38%	520,000	$10M	new	+0.38 pp	new
DHID.R. Horton Inc.	0.38%	69,600	$11M	new	+0.38 pp	new
AMEAmetek, Inc.	0.36%	60,505	$10M	added+54%	+0.17 pp	6 q
IDAIDACORP, Inc.	0.36%	100,000	$10M	new	+0.36 pp	new
NTRANatera, Inc.	0.34%	150,000	$9M	trimmed−17%	+0.08 pp	2 q
KEYKeyCorp	0.31%	595,000	$9M	new	+0.31 pp	new
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.30%	80,000	$8M	held	—	2 q
DARDarling Ingredients Inc.	0.28%	155,000	$8M	new	+0.28 pp	new
HYGiShares iBoxx $ High Yield Corporate Bond ETF	0.28%	100,000	$8M	trimmed−56%	−0.27 pp	4 q
KREState Street SPDR S&P Regional Banking ETF	0.28%	144,959	$8M	new	+0.28 pp	new
HGHamilton Insurance Group, Ltd. Class B	0.28%	521,475	$8M	new	+0.28 pp	new
AYAtlantica Sustainable Infras	0.27%	350,000	$8M	new	+0.27 pp	new
AAMIAcadian Asset Management Inc.	0.24%	346,293	$7M	trimmed−0%	+0.02 pp	16 q
ETEnergy Transfer LP	0.24%	477,750	$7M	held	—	21 q
BPBP p.l.c.	0.22%	170,000	$6M	new	+0.22 pp	new
MLTXMoonLake Immunotherapeutics Class A	0.22%	100,000	$6M	added+79%	+0.11 pp	2 q
BABAAlibaba Group Holding Limited	0.21%	75,000	$6M	added+88%	+0.10 pp	3 q
EOLSEvolus, Inc.	0.21%	550,000	$6M	new	+0.21 pp	new
IMVTImmunovant, Inc.	0.21%	140,000	$6M	added+87%	+0.12 pp	2 q
MMSIMerit Medical Systems Inc	0.21%	76,200	$6M	new	+0.21 pp	new
PDDPDD Holdings Inc.	0.21%	40,000	$6M	new	+0.21 pp	new
ROKURoku, Inc. Class A	0.21%	62,500	$6M	new	+0.21 pp	new
9991429DAptiv Irish Holdings Ltd	0.19%	58,972	$5M	trimmed−81%	−0.82 pp	15 q
KNTKKinetik Holdings Inc.	0.18%	150,000	$5M	new	+0.18 pp	new
CRBGCorebridge Financial, Inc.	0.18%	229,000	$5M	new	+0.18 pp	new
EPDEnterprise Products Partners L.P.	0.18%	190,000	$5M	held	—	21 q
FCNCAFirst Citizens BancShares Inc	0.17%	3,333	$5M	added+15%	+0.04 pp	3 q
PRVAPrivia Health Group, Inc.	0.17%	200,000	$5M	added+43%	+0.06 pp	2 q
TMUST-Mobile US, Inc.	0.17%	28,500	$5M	held	—	16 q
QCOMQualcomm Inc	0.16%	30,000	$4M	trimmed−45%	−0.04 pp	13 q
INSMInsmed, Inc.	0.14%	125,000	$4M	new	+0.14 pp	new
KVUEKenvue Inc.	0.14%	186,000	$4M	trimmed−78%	−0.43 pp	2 q
OKEOneok, Inc.	0.14%	54,493	$4M	trimmed0%	+0.03 pp	2 q
PENPenumbra, Inc.	0.14%	15,000	$4M	trimmed−33%	−0.04 pp	2 q
SWAVShockwave Medical, Inc.	0.14%	20,000	$4M	trimmed−20%	−0.02 pp	2 q
EWCiShares MSCI Canada ETF	0.13%	97,700	$4M	held	—	2 q
FSLYFastly, Inc. Class A	0.12%	185,000	$3M	trimmed−67%	−0.23 pp	4 q
SNCYSun Country Airlines Holdings, Inc.	0.12%	203,070	$3M	new	+0.12 pp	new
NTBThe Bank of N.T. Butterfield & Son Limited	0.12%	101,000	$3M	held	—	2 q
ARRYArray Technologies, Inc.	0.11%	180,000	$3M	new	+0.11 pp	new
RPDRapid7, Inc.	0.11%	53,497	$3M	new	+0.11 pp	new
GRSDGrandstand Limited	0.11%	310,000	$3M	new	+0.11 pp	new
WESWestern Midstream Partners, LP	0.10%	94,550	$3M	held	—	20 q
HANHawaiian Holdings Inc	0.08%	158,035	$2M	new	+0.08 pp	new
EHTHeHealth, Inc.	0.06%	205,000	$2M	new	+0.06 pp	new
FSLRFirst Solar, Inc.	0.06%	10,000	$2M	new	+0.06 pp	new
HCPHashiCorp, Inc. Class A	0.06%	75,000	$2M	held	—	3 q
SPSBState Street SPDR Portfolio Short Term Corporate Bond ETF	0.06%	55,800	$2M	held	—	15 q
RDCMRadcom Ltd.	0.06%	193,272	$2M	new	+0.06 pp	new
ETRNEquitrans Midstream Corporation	0.05%	134,200	$1M	held	—	15 q
SBOWSilverBow Resources, Inc.	0.05%	50,000	$1M	new	+0.05 pp	new
PROPros Holdings, Inc.	0.04%	28,000	$1M	new	+0.04 pp	new
TDYTeledyne Technologies Incorporated	0.04%	2,750	$1M	new	+0.04 pp	new
TBLATaboola.com Ltd.	0.04%	225,000	$974,250	new	+0.04 pp	new
EVLVEvolv Technologies Holdings, Inc. Class A	0.03%	200,000	$944,000	new	+0.03 pp	new
SLQTSelectQuote, Inc.	0.03%	629,115	$861,888	new	+0.03 pp	new
AUGXAugmedix, Inc.	0.02%	88,516	$517,819	new	+0.02 pp	new
XLFState Street Financial Select Sector SPDR ETF	0.02%	12,270	$461,352	new	+0.02 pp	new
NBBKNB Bancorp, Inc.	0.01%	26,000	$349,700	new	+0.01 pp	new
unresolvedTremor Intl Ltd	0.01%	35,000	$177,100	new	+0.01 pp	new
CMPRCimpress PLC (Ireland)	0.01%	5,000	$400,250	new	+0.01 pp	new
BAMBrookfield Asset Management Ltd.	0.00%	1	$40	new	0.00 pp	new
JBLUJetBlue Airways Corp	0.00%	1	$6	new	0.00 pp	new
SAVEQSpirit Airlines, Inc.	0.00%	1	$16	new	0.00 pp	new
HZNPHorizon Therapeutics PLC	—	−3,289,584	—	exited	−12.55 pp	—
AIYActivision Blizzard Inc	—	−3,000,001	—	exited	−9.26 pp	—
unresolvedAbcam Plc ADR	—	−6,183,749	—	exited	−4.62 pp	—
DENDenbury Inc.	—	−502,682	—	exited	−1.62 pp	—
unresolvedAramark	—	−1,274,725	—	exited	−1.05 pp	—
LPLALPL Financial Holdings Inc.	—	−134,495	—	exited	−1.05 pp	—
TLTiShares 20+ Year Treasury Bond ETF	—	−275,000	—	exited	−0.80 pp	—
GMGeneral Motors Company	—	−613,100	—	exited	−0.67 pp	—
FIVNFIVE9, Inc.	—	−285,400	—	exited	−0.61 pp	—
MTNVail Resorts, Inc.	—	−83,000	—	exited	−0.61 pp	—
ARMArm Holdings plc	—	−325,000	—	exited	−0.57 pp	—
DOCNDigitalOcean Holdings, Inc.	—	−611,138	—	exited	−0.48 pp	—
XLUState Street Utilities Select Sector SPDR ETF	—	−230,000	—	exited	−0.45 pp	—
LQDiShares iBoxx $ Investment Grade Corporate Bond ETF	—	−110,000	—	exited	−0.37 pp	—
LENLennar Corporation Class A	—	−100,000	—	exited	−0.37 pp	—
HCAHCA Healthcare, Inc.	—	−41,000	—	exited	−0.33 pp	—
XBIState Street SPDR S&P Biotech ETF	—	−137,000	—	exited	−0.33 pp	—
FMCFMC Corporation	—	−128,862	—	exited	−0.28 pp	—
AALAmerican Airlines Group Inc.	—	−535,389	—	exited	−0.23 pp	—
AAPLApple Inc.	—	−41,233	—	exited	−0.23 pp	—
DTDynatrace, Inc.	—	−149,000	—	exited	−0.23 pp	—
AVGOBroadcom Inc.	—	−7,170	—	exited	−0.20 pp	—
DTEDTE Energy Company	—	−60,000	—	exited	−0.20 pp	—
LEGNLegend Biotech Corporation	—	−90,000	—	exited	−0.20 pp	—
CNMCore & Main, Inc.	—	−200,000	—	exited	−0.19 pp	—
DUKDuke Energy Corporation	—	−66,000	—	exited	−0.19 pp	—
SOThe Southern Company	—	−90,000	—	exited	−0.19 pp	—
FTVFortive Corporation	—	−62,728	—	exited	−0.15 pp	—
TRINTrinity Capital Inc.	—	−327,220	—	exited	−0.15 pp	—
MCKMcKesson Corporation	—	−10,000	—	exited	−0.14 pp	—
PYPLPayPal Holdings, Inc.	—	−75,000	—	exited	−0.14 pp	—
FTREFortrea Holdings Inc.	—	−125,000	—	exited	−0.12 pp	—
LNTAlliant Energy Corporation	—	−63,000	—	exited	−0.10 pp	—
CMSCMS Energy Corporation	—	−55,000	—	exited	−0.10 pp	—
DAYDayforce, Inc.	—	−46,456	—	exited	−0.10 pp	—
ETREntergy Corporation	—	−32,000	—	exited	−0.10 pp	—
EXCExelon Corporation	—	−77,000	—	exited	−0.10 pp	—
RRXRegal Rexnord Corporation	—	−20,204	—	exited	−0.10 pp	—
LTHMLivent Corporation	—	−140,000	—	exited	−0.09 pp	—
OSKOshkosh Corp.	—	−30,000	—	exited	−0.09 pp	—
WECWEC Energy Group, Inc.	—	−25,000	—	exited	−0.07 pp	—
WKWorkiva Inc.	—	−19,758	—	exited	−0.07 pp	—
AEISAdvanced Energy Industries Inc	—	−17,500	—	exited	−0.06 pp	—
OPRAOpera Limited	—	−125,000	—	exited	−0.05 pp	—
8DTSquarespace Inc - Class A	—	−39,373	—	exited	−0.04 pp	—
KVYOKlaviyo, Inc.	—	−23,000	—	exited	−0.03 pp	—
CARTMaplebear Inc.	—	−30,000	—	exited	−0.03 pp	—
GTGoodyear Tire & Rubber	—	−52,128	—	exited	−0.02 pp	—
TGANTransphorm, Inc.	—	−340,000	—	exited	−0.02 pp	—
unresolvedRayzebio Inc	—	−20,000	—	exited	−0.01 pp	—
LYFTLyft, Inc. Class A	—	−13,914	—	exited	0.00 pp	—
NMRANeumora Therapeutics, Inc.	—	−10,000	—	exited	0.00 pp	—
CPRICapri Holdings Limited	—	−2	—	exited	0.00 pp	—

Other 13(f) securities

Options 50

Contract	% of notional	Shares	Notional
IWM PUT	12.67%	1,500,000	$301M
QQQ PUT	10.34%	600,000	$246M
HYG PUT	8.14%	2,500,000	$193M
SPY PUT	6.70%	335,000	$159M
SPLK PUT	6.41%	1,000,000	$152M
OKTA CALL	4.15%	1,088,700	$99M
BABA CALL	3.82%	1,172,800	$91M
HYG CALL	3.26%	1,000,000	$77M
NET CALL	3.15%	900,000	$75M
COF PUT	2.45%	445,000	$58M
AAPL PUT	2.23%	275,000	$53M
TLT CALL	2.08%	500,000	$49M
SYF PUT	2.01%	1,250,000	$48M
CFLT CALL	1.98%	2,012,000	$47M
XYZ CALL	1.95%	600,000	$46M
SAVEQ PUT	1.94%	2,808,400	$46M
NET PUT	1.78%	508,300	$42M
PDD PUT	1.70%	276,100	$40M
WOLF CALL	1.46%	800,000	$35M
LEN PUT	1.41%	225,000	$34M
FOUR CALL	1.25%	400,000	$30M
DOCN CALL	1.23%	800,000	$29M
MNST PUT	1.21%	500,000	$29M
SE CALL	1.11%	654,100	$26M
W CALL	1.04%	400,000	$25M
U CALL	1.03%	600,000	$25M
FXI CALL	1.01%	1,000,000	$24M
FIVN CALL	0.91%	275,000	$22M
AYX CALL	0.90%	453,400	$21M
VAC CALL	0.89%	250,000	$21M
WSM PUT	0.85%	100,000	$20M
SNAP CALL	0.83%	1,170,000	$20M
ROKU PUT	0.77%	200,000	$18M
RILY PUT	0.70%	793,600	$17M
JBLU CALL	0.70%	3,000,000	$17M
AX CALL	0.69%	300,000	$16M
DOCN PUT	0.69%	450,000	$17M
XLU CALL	0.67%	250,000	$16M
LITE CALL	0.66%	300,000	$16M
DAY CALL	0.56%	200,000	$13M
WOLF PUT	0.55%	300,000	$13M
JWN CALL	0.39%	500,000	$9M
LYFT PUT	0.32%	500,000	$7M
BAM CALL	0.25%	150,000	$6M
DISH CALL	0.24%	1,000,000	$6M
RPD CALL	0.24%	100,000	$6M
JWN PUT	0.23%	300,000	$6M
NCLH CALL	0.17%	200,000	$4M
MSTR CALL	0.13%	5,000	$3M
AYX PUT	0.12%	61,700	$3M

Notes 42

Issue	% of notes	Principal	Value
Digitalocean Holdings	7.30%	220,962,000	$183M
Snap Inc	5.77%	182,950,000	$145M
Wayfair Inc	4.83%	137,450,000	$121M
Microstrategy Inc	4.79%	137,735,000	$120M
Cloudflare Inc	4.78%	132,200,000	$120M
Blackline Inc	4.22%	119,076,000	$106M
Peloton Interactive Inc	4.13%	133,000,000	$103M
Lyft Inc	4.07%	107,100,000	$102M
Confluent Inc	3.81%	114,000,000	$96M
Unity Software Inc	3.71%	111,500,000	$93M
Wolfspeed Inc	3.65%	135,500,000	$91M
Dish Network Corp	3.58%	142,650,000	$90M
Lumentum Holdings Inc	3.44%	109,000,000	$86M
Snap Inc	3.22%	75,687,000	$81M
RAPID7 Inc	3.15%	87,500,000	$79M
Lantheus Holdings Inc	3.09%	69,000,000	$77M
Wolfspeed Inc	3.06%	112,000,000	$77M
Sea Ltd	3.04%	79,725,000	$76M
Splunk Inc	2.71%	70,000,000	$68M
Spotify USA Inc	2.22%	63,000,000	$56M
Block Inc	2.18%	66,007,000	$55M
Ncl Corporation Ltd	2.08%	40,500,000	$52M
Microstrategy Inc	2.06%	31,292,000	$52M
Jetblue Airways Corp	1.92%	67,000,000	$48M
SHIFT4 Payments Inc	1.80%	40,500,000	$45M
Fastly Inc	1.60%	45,695,000	$40M
Marriott Vacation Worldw	1.44%	40,717,000	$36M
Marriott Vacation Worldw	1.07%	30,000,000	$27M
Livongo Health	0.94%	25,000,000	$24M
Spirit Airlines Inc	0.94%	34,000,000	$24M
Okta Inc	0.88%	24,900,000	$22M
Lumentum Holdings Inc	0.76%	21,250,000	$19M
Snap Inc	0.74%	23,000,000	$19M
Etsy Inc	0.64%	14,000,000	$16M
Acorda Therapeutics Inc	0.56%	27,951,000	$14M
Sea Ltd	0.39%	12,000,000	$10M
FIVE9 Inc	0.38%	10,000,000	$10M
Dayforce Inc	0.36%	10,000,000	$9M
Nio Inc	0.29%	7,830,000	$7M
Sunnova Energy Intl Inc	0.29%	11,000,000	$7M
Ringcentral Inc	0.07%	2,000,000	$2M
Enphase Energy Inc	0.04%	1,000,000	$918,140

Source

Form: 13F-HR
Reading: 0 defects · 1 unresolved
Accession: 0000902664-24-001751
SEC cross-check: SEC data set not published yet

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