Soros Fund Management

Q1 2024 13F · by Dawn Fitzpatrick, CIO

As of: Mar 31, 2024
Filed: May 15, 2024
US stock: $2.6B · prev $2.8B
Positions: 135 · prev 117
Options notional: $1.7B
Documents: 1· no amendments

Picture42.6% US stock

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

US stock listed on a US exchange 42.6%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 29.0%
Puts at notional value 19.7%
Calls at notional value 8.7%

Moves225 since the prior filing

+39.4 pp in · −39.0 pp out

New 68 +27.42 pp
Added 24 +11.93 pp
Trimmed 27 −4.62 pp
Exited 50 −34.38 pp

Options: 56 moves on a notional base, in the table below.

The book

Focused · behaves like 39 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 258% a year, about 0.4 years per position

Low
Moderate
High

Top 5 positions27% of US stock

GOOGL Alphabet Inc. Class A added+2.62 pp added+2.628.8%
AER Aercap Holdings N.V. trimmed+0.03 pp trimmed+0.036.7%
AEL American Equity Investment Life Holding Company added+0.90 pp added+0.904.2%
NVO Novo-Nordisk A/S trimmed−1.82 pp trimmed−1.824.0%
CERE Cerevel Therapeutics Holdings, Inc. new+3.20 pp new+3.203.2%

Positions135 in this filing · 50 exited


GOOGLAlphabet Inc. Class A	8.78%	1,490,599	$225M	added+22%	+2.62 pp	20 q
AERAercap Holdings N.V.	6.67%	1,966,343	$171M	trimmed−20%	+0.03 pp	5 q
AELAmerican Equity Investment Life Holding Company	4.21%	1,919,302	$108M	added+17%	+0.90 pp	3 q
NVONovo-Nordisk A/S	4.00%	797,616	$102M	trimmed−49%	−1.82 pp	3 q
CERECerevel Therapeutics Holdings, Inc.	3.20%	1,940,201	$82M	new	+3.20 pp	new
LBRDKLiberty Broadband Corporation Class C	3.11%	1,389,893	$80M	held	—	32 q
AMZNAmazon.Com Inc	2.79%	395,509	$71M	trimmed−29%	−0.27 pp	14 q
CRHCRH Public Limited Company	2.67%	791,545	$68M	trimmed−46%	−0.97 pp	3 q
ARMKAramark	2.61%	2,059,000	$67M	added×4.0	+2.08 pp	2 q
BKNGBooking Holdings Inc.	2.54%	17,910	$65M	added+14%	+0.52 pp	7 q
JJacobs Solutions Inc.	2.11%	350,849	$54M	trimmed−5%	+0.37 pp	4 q
UBERUber Technologies, Inc.	1.82%	606,359	$47M	trimmed−12%	+0.28 pp	8 q
OKTAOkta, Inc. Class A	1.74%	426,326	$45M	new	+1.74 pp	new
0LW9Westrock Co	1.74%	900,001	$45M	new	+1.74 pp	new
CBOECboe Global Markets, Inc.	1.48%	205,783	$38M	trimmed−8%	+0.04 pp	7 q
EMXCiShares MSCI Emerging Markets ex China ETF	1.44%	642,500	$37M	held	—	5 q
PCGPG&E Corporation	1.39%	2,117,354	$35M	new	+1.39 pp	new
ACNAccenture PLC	1.32%	97,862	$34M	trimmed−9%	−0.05 pp	12 q
DASHDoorDash, Inc. Class A	1.21%	224,939	$31M	added+20%	+0.54 pp	5 q
DHID.R. Horton Inc.	1.15%	178,600	$29M	added×2.6	+0.77 pp	2 q
NKENike, Inc.	1.14%	310,720	$29M	added+31%	+0.21 pp	14 q
TECKTeck Resources Limited	1.10%	613,452	$28M	added+22%	+0.33 pp	3 q
RUNSunrun Inc	1.07%	2,080,941	$27M	new	+1.07 pp	new
AZNNAstrazeneca Plc-spons ADR	1.06%	400,000	$27M	new	+1.06 pp	new
IBKRInteractive Brokers Group, Inc. Class A	1.04%	237,454	$27M	trimmed−7%	+0.28 pp	9 q
LQDiShares iBoxx $ Investment Grade Corporate Bond ETF	1.04%	245,000	$27M	new	+1.04 pp	new
VSTSVestis Corporation	1.02%	1,361,212	$26M	added×2.3	+0.57 pp	3 q
MUBiShares National Muni Bond ETF	1.01%	241,400	$26M	held	—	17 q
MRKMerck & Co., Inc.	0.90%	175,000	$23M	trimmed−22%	+0.01 pp	2 q
CSXCSX Corporation	0.88%	610,003	$23M	added+21%	+0.25 pp	5 q
INDIindie Semiconductor, Inc. Class A	0.88%	3,169,100	$22M	trimmed−23%	−0.33 pp	12 q
RNRRenaissanceRe Holdings Ltd.	0.88%	96,186	$23M	trimmed−4%	+0.17 pp	4 q
NBIXNeurocrine Biosciences Inc	0.86%	159,776	$22M	trimmed−14%	−0.02 pp	3 q
KREState Street SPDR S&P Regional Banking ETF	0.85%	434,959	$22M	added×3.0	+0.57 pp	2 q
AXNXAxonics, Inc.	0.80%	295,955	$20M	new	+0.80 pp	new
DARDarling Ingredients Inc.	0.80%	441,858	$21M	added×2.9	+0.52 pp	2 q
GFLGFL Environmental Inc. Subordinate Voting Shares	0.78%	580,336	$20M	new	+0.78 pp	new
ALLThe Allstate Corporation	0.73%	107,570	$19M	added+15%	+0.26 pp	3 q
NETCloudflare, Inc. Class A, par value $0.001 per share	0.70%	185,356	$18M	new	+0.70 pp	new
VFHVanguard Financials ETF	0.70%	174,588	$18M	held	—	6 q
DDOGDatadog, Inc. Class A	0.68%	140,590	$17M	trimmed−15%	−0.05 pp	3 q
TEAMAtlassian Corporation Class A	0.64%	84,105	$16M	added+48%	+0.15 pp	6 q
FXIiShares China Large-Cap ETF	0.63%	675,000	$16M	new	+0.63 pp	new
SNYSanofi	0.62%	325,000	$16M	held	—	3 q
HYGiShares iBoxx $ High Yield Corporate Bond ETF	0.61%	200,000	$16M	added×2.0	+0.33 pp	5 q
AIGAmerican International Group, Inc.	0.60%	195,400	$15M	new	+0.60 pp	new
BGCBGC Group, Inc. Class A	0.59%	1,957,789	$15M	trimmed−16%	−0.02 pp	3 q
HONHoneywell International, Inc.	0.59%	73,611	$15M	added+30%	+0.16 pp	3 q
MTDRMatador Resources Company	0.59%	225,000	$15M	new	+0.59 pp	new
ALABAstera Labs, Inc.	0.58%	201,600	$15M	new	+0.58 pp	new
ISRGIntuitive Surgical Inc.	0.58%	37,500	$15M	trimmed−25%	−0.03 pp	2 q
KEYKeyCorp	0.56%	902,000	$14M	added+52%	+0.25 pp	2 q
REGNRegeneron Pharmaceuticals Inc	0.56%	15,000	$14M	trimmed−14%	0.00 pp	2 q
GSGoldman Sachs Group Inc.	0.55%	33,550	$14M	new	+0.55 pp	new
BMRNBioMarin Pharmaceuticals Inc	0.53%	155,900	$14M	new	+0.53 pp	new
AMEAmetek, Inc.	0.52%	73,334	$13M	added+21%	+0.16 pp	7 q
AVTRAvantor, Inc.	0.50%	500,000	$13M	trimmed−38%	−0.16 pp	2 q
DHRDanaher Corporation	0.49%	50,000	$12M	new	+0.49 pp	new
AURAurora Innovation, Inc. Class A	0.47%	4,250,000	$12M	new	+0.47 pp	new
BTSGBrightSpring Health Services, Inc.	0.47%	1,101,554	$12M	new	+0.47 pp	new
ZT0Viper Energy Inc-cl A	0.47%	313,850	$12M	new	+0.47 pp	new
ARGXargenx SE	0.46%	30,000	$12M	new	+0.46 pp	new
EOLSEvolus, Inc.	0.46%	840,100	$12M	added+53%	+0.25 pp	2 q
FCXFreeport-McMoran Inc.	0.46%	251,800	$12M	new	+0.46 pp	new
REXRRexford Industrial Realty, Inc.	0.44%	225,000	$11M	new	+0.44 pp	new
SNXTD SYNNEX Corporation	0.44%	100,000	$11M	new	+0.44 pp	new
NSCNorfolk Southern Corp.	0.43%	43,588	$11M	trimmed−13%	0.00 pp	5 q
HHHHoward Hughes Holdings Inc.	0.41%	145,000	$11M	new	+0.41 pp	new
CMECME Group Inc.	0.39%	45,860	$10M	trimmed−48%	−0.29 pp	30 q
SWTXSpringworks Therapeutics Inc	0.39%	203,946	$10M	new	+0.39 pp	new
CPECallon Petroleum Company	0.35%	250,000	$9M	new	+0.35 pp	new
HANHawaiian Holdings Inc	0.35%	675,000	$9M	added×4.3	+0.27 pp	2 q
MPMP Materials Corp.	0.33%	585,209	$8M	new	+0.33 pp	new
AAMIAcadian Asset Management Inc.	0.31%	346,293	$8M	held	—	17 q
TSLXSixth Street Specialty Lending, Inc.	0.31%	370,000	$8M	new	+0.31 pp	new
EWEdwards Lifesciences Corp	0.28%	75,000	$7M	new	+0.28 pp	new
KOSKosmos Energy Ltd.	0.28%	1,200,409	$7M	new	+0.28 pp	new
DXCMDexCom, Inc.	0.27%	50,000	$7M	trimmed−55%	−0.22 pp	3 q
JPMJPMorgan Chase & Co.	0.27%	34,500	$7M	new	+0.27 pp	new
QQQInvesco QQQ Trust, Series 1	0.26%	15,000	$7M	new	+0.26 pp	new
AYAtlantica Sustainable Infras	0.25%	350,000	$6M	held	—	2 q
PACBPacific Biosciences of California, Inc.	0.24%	1,633,000	$6M	new	+0.24 pp	new
NTRANatera, Inc.	0.23%	65,000	$6M	trimmed−57%	−0.11 pp	3 q
QCOMQualcomm Inc	0.23%	35,000	$6M	added+17%	+0.07 pp	14 q
CRBGCorebridge Financial, Inc.	0.22%	194,000	$6M	trimmed−15%	+0.04 pp	2 q
DDDuPont de Nemours, Inc.	0.22%	72,804	$6M	new	+0.22 pp	new
EPDEnterprise Products Partners L.P.	0.22%	190,000	$6M	held	—	22 q
HGHamilton Insurance Group, Ltd. Class B	0.22%	408,634	$6M	trimmed−22%	−0.06 pp	2 q
FCNCAFirst Citizens BancShares Inc	0.21%	3,333	$5M	held	—	4 q
GEGE Aerospace	0.21%	30,000	$5M	new	+0.21 pp	new
MMM3M Company	0.21%	50,000	$5M	new	+0.21 pp	new
SG7Sage Therapeutics Inc	0.20%	275,000	$5M	new	+0.20 pp	new
CARRCarrier Global Corporation	0.19%	84,716	$5M	new	+0.19 pp	new
BBOTBridgeBio Oncology Therapeutics, Inc.	0.19%	475,000	$5M	new	+0.19 pp	new
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.18%	34,047	$5M	trimmed−57%	−0.12 pp	3 q
OKEOneok, Inc.	0.17%	54,493	$4M	held	—	3 q
PRVAPrivia Health Group, Inc.	0.17%	225,000	$4M	added+13%	0.00 pp	3 q
SLNOSoleno Therapeutics, Inc.	0.17%	100,000	$4M	new	+0.17 pp	new
TDYTeledyne Technologies Incorporated	0.17%	10,216	$4M	added×3.7	+0.13 pp	2 q
ALTMArcadium Lithium PLC	0.17%	1,000,000	$4M	new	+0.17 pp	new
DOCNDigitalOcean Holdings, Inc.	0.16%	104,383	$4M	new	+0.16 pp	new
KVUEKenvue Inc.	0.16%	186,000	$4M	held	—	3 q
CNQCanadian Natural Resources Limited	0.15%	50,000	$4M	new	+0.15 pp	new
EWCiShares MSCI Canada ETF	0.15%	97,700	$4M	held	—	3 q
XHBState Street SPDR S&P Homebuilders ETF	0.15%	35,000	$4M	new	+0.15 pp	new
SUSuncor Energy, Inc.	0.14%	100,000	$4M	new	+0.14 pp	new
AIRAAR Corp.	0.13%	55,153	$3M	new	+0.13 pp	new
ALBAlbemarle Corporation	0.13%	25,000	$3M	new	+0.13 pp	new
BPBP p.l.c.	0.13%	85,000	$3M	trimmed−50%	−0.09 pp	2 q
LAZLazard, Inc.	0.13%	77,700	$3M	new	+0.13 pp	new
WESWestern Midstream Partners, LP	0.13%	94,550	$3M	held	—	21 q
NTBThe Bank of N.T. Butterfield & Son Limited	0.13%	101,000	$3M	held	—	3 q
CCThe Chemours Company	0.12%	112,348	$3M	new	+0.12 pp	new
SRESempra	0.12%	44,000	$3M	trimmed−91%	−1.23 pp	3 q
AMBAAmbarella, Inc.	0.12%	60,000	$3M	new	+0.12 pp	new
URAGlobal X Uranium ETF	0.11%	100,000	$3M	new	+0.11 pp	new
DXDynex Capital, Inc.	0.10%	214,626	$3M	new	+0.10 pp	new
ECHOEchoStar Corporation	0.10%	187,383	$3M	new	+0.10 pp	new
FDMT4D Molecular Therapeutics, Inc.	0.08%	62,500	$2M	new	+0.08 pp	new
EQTEqt Corp	0.07%	50,001	$2M	new	+0.07 pp	new
ETRNEquitrans Midstream Corporation	0.07%	134,201	$2M	added0%	+0.02 pp	16 q
SPSBState Street SPDR Portfolio Short Term Corporate Bond ETF	0.06%	55,800	$2M	held	—	16 q
STVNStevanato Group S.p.A.	0.06%	45,000	$1M	new	+0.06 pp	new
CRGYCrescent Energy Company	0.05%	99,990	$1M	new	+0.05 pp	new
SYRESpyre Therapeutics, Inc.	0.04%	30,038	$1M	new	+0.04 pp	new
NEENextEra Energy, Inc.	0.04%	16,904	$1M	new	+0.04 pp	new
PRGSProgress Software Corp (DE)	0.03%	14,120	$752,737	new	+0.03 pp	new
SOLVSolventum Corporation	0.03%	10,000	$695,500	new	+0.03 pp	new
APLSApellis Pharmaceuticals, Inc.	0.02%	8,948	$525,963	new	+0.02 pp	new
ASNDAscendis Pharma A/S	0.02%	3,432	$518,815	new	+0.02 pp	new
MDGLMadrigal Pharmaceuticals, Inc.	0.02%	2,016	$538,353	new	+0.02 pp	new
SRPTSarepta Therapeutics,, Inc.	0.02%	3,956	$512,144	new	+0.02 pp	new
XLFState Street Financial Select Sector SPDR ETF	0.02%	12,270	$516,812	held	—	2 q
BOLDBoundless Bio, Inc.	0.01%	20,000	$285,000	new	+0.01 pp	new
UTHRUnited Therapeutics Corp	0.01%	1,054	$242,125	new	+0.01 pp	new
SPLKSplunk Inc	—	−1,580,001	—	exited	−8.71 pp	—
IWMiShares Russell 2000 ETF	—	−1,198,023	—	exited	−8.70 pp	—
SPYState Street SPDR S&P 500 ETF Trust	—	−165,498	—	exited	−2.85 pp	—
FEZState Street SPDR EURO STOXX 50 ETF	—	−1,374,700	—	exited	−2.38 pp	—
LVSLas Vegas Sands Corp.	—	−665,535	—	exited	−1.19 pp	—
BIRKBirkenstock Holding plc	—	−625,000	—	exited	−1.10 pp	—
KWEBKraneShares CSI China Internet ETF	—	−1,092,821	—	exited	−1.07 pp	—
SNOWSnowflake Inc.	—	−118,800	—	exited	−0.86 pp	—
LLYEli Lilly & Co.	—	−33,000	—	exited	−0.70 pp	—
INTUIntuit Inc	—	−28,414	—	exited	−0.64 pp	—
NYCBFlagstar Bank, National Association	—	−1,476,180	—	exited	−0.55 pp	—
ILMNIllumina Inc	—	−100,000	—	exited	−0.50 pp	—
CIThe Cigna Group	—	−45,000	—	exited	−0.49 pp	—
CPKChesapeake Utilities	—	−100,000	—	exited	−0.38 pp	—
CWANClearwater Analytics Hds-a	—	−520,000	—	exited	−0.38 pp	—
IDAIDACORP, Inc.	—	−100,000	—	exited	−0.36 pp	—
ETEnergy Transfer LP	—	−477,750	—	exited	−0.24 pp	—
MLTXMoonLake Immunotherapeutics Class A	—	−100,000	—	exited	−0.22 pp	—
BABAAlibaba Group Holding Limited	—	−75,000	—	exited	−0.21 pp	—
IMVTImmunovant, Inc.	—	−140,000	—	exited	−0.21 pp	—
MMSIMerit Medical Systems Inc	—	−76,200	—	exited	−0.21 pp	—
PDDPDD Holdings Inc.	—	−40,000	—	exited	−0.21 pp	—
ROKURoku, Inc. Class A	—	−62,500	—	exited	−0.21 pp	—
9991429DAptiv Irish Holdings Ltd	—	−58,972	—	exited	−0.19 pp	—
KNTKKinetik Holdings Inc.	—	−150,000	—	exited	−0.18 pp	—
TMUST-Mobile US, Inc.	—	−28,500	—	exited	−0.17 pp	—
INSMInsmed, Inc.	—	−125,000	—	exited	−0.14 pp	—
PENPenumbra, Inc.	—	−15,000	—	exited	−0.14 pp	—
SWAVShockwave Medical, Inc.	—	−20,000	—	exited	−0.14 pp	—
FSLYFastly, Inc. Class A	—	−185,000	—	exited	−0.12 pp	—
SNCYSun Country Airlines Holdings, Inc.	—	−203,070	—	exited	−0.12 pp	—
ARRYArray Technologies, Inc.	—	−180,000	—	exited	−0.11 pp	—
RPDRapid7, Inc.	—	−53,497	—	exited	−0.11 pp	—
GRSDGrandstand Limited	—	−310,000	—	exited	−0.11 pp	—
EHTHeHealth, Inc.	—	−205,000	—	exited	−0.06 pp	—
FSLRFirst Solar, Inc.	—	−10,000	—	exited	−0.06 pp	—
HCPHashiCorp, Inc. Class A	—	−75,000	—	exited	−0.06 pp	—
RDCMRadcom Ltd.	—	−193,272	—	exited	−0.06 pp	—
SBOWSilverBow Resources, Inc.	—	−50,000	—	exited	−0.05 pp	—
PROPros Holdings, Inc.	—	−28,000	—	exited	−0.04 pp	—
TBLATaboola.com Ltd.	—	−225,000	—	exited	−0.04 pp	—
EVLVEvolv Technologies Holdings, Inc. Class A	—	−200,000	—	exited	−0.03 pp	—
SLQTSelectQuote, Inc.	—	−629,115	—	exited	−0.03 pp	—
AUGXAugmedix, Inc.	—	−88,516	—	exited	−0.02 pp	—
NBBKNB Bancorp, Inc.	—	−26,000	—	exited	−0.01 pp	—
unresolvedTremor Intl Ltd	—	−35,000	—	exited	−0.01 pp	—
CMPRCimpress PLC (Ireland)	—	−5,000	—	exited	−0.01 pp	—
BAMBrookfield Asset Management Ltd.	—	−1	—	exited	0.00 pp	—
JBLUJetBlue Airways Corp	—	−1	—	exited	0.00 pp	—
SAVEQSpirit Airlines, Inc.	—	−1	—	exited	0.00 pp	—

Other 13(f) securities

Options 29

Contract	% of notional	Shares	Notional
QQQ PUT	22.20%	855,000	$380M
HYG PUT	11.37%	2,500,000	$194M
NET PUT	8.50%	1,500,000	$145M
TLT CALL	5.53%	1,000,000	$95M
SPY PUT	5.35%	175,000	$92M
XHB PUT	4.90%	750,000	$84M
EWJ PUT	4.17%	1,000,000	$71M
IWM CALL	3.69%	300,000	$63M
BABA CALL	3.17%	750,000	$54M
SYF PUT	3.15%	1,250,000	$54M
CFLT CALL	2.90%	1,622,600	$50M
OKTA PUT	2.45%	400,000	$42M
LITE CALL	2.25%	814,100	$39M
DOCN PUT	2.23%	1,000,000	$38M
RPD CALL	2.19%	762,500	$37M
WSM PUT	1.86%	100,000	$32M
ESTC CALL	1.76%	300,000	$30M
FSLY CALL	1.67%	2,200,000	$29M
W CALL	1.59%	400,000	$27M
VAC CALL	1.58%	250,100	$27M
XYZ CALL	1.48%	300,000	$25M
SNAP CALL	0.94%	1,400,000	$16M
XOP PUT	0.91%	100,000	$15M
WOLF CALL	0.86%	500,000	$15M
GM PUT	0.80%	300,000	$14M
RILY CALL	0.74%	600,000	$13M
LNTH PUT	0.73%	200,000	$12M
RILY PUT	0.72%	579,800	$12M
U CALL	0.31%	200,000	$5M

Notes 29

Issue	% of notes	Principal	Value
Rivian Auto Inc	8.84%	191,436,000	$154M
Microstrategy Inc	7.69%	31,292,000	$134M
Digitalocean Holdings	7.45%	154,000,000	$130M
Wayfair Inc	7.29%	137,450,000	$127M
Microstrategy Inc	7.06%	90,000,000	$123M
Dish Network Corp	5.75%	138,250,000	$100M
Peloton Interactive Inc	5.73%	117,500,000	$100M
Dropbox Inc	4.95%	90,750,000	$86M
Wolfspeed Inc	4.43%	135,500,000	$77M
Lumentum Holdings Inc	4.10%	81,250,000	$72M
Marriott Vacation Worldw	4.04%	74,000,000	$71M
Ncl Corporation Ltd	3.81%	50,500,000	$66M
Wolfspeed Inc	3.78%	112,000,000	$66M
Snap Inc	3.06%	70,000,000	$53M
Confluent Inc	3.01%	61,000,000	$52M
RAPID7 Inc	2.52%	50,000,000	$44M
Bentley Systems Inc	2.39%	41,500,000	$42M
Cloudflare Inc	2.37%	44,000,000	$41M
Livongo Health	2.34%	43,000,000	$41M
Lumentum Holdings Inc	2.14%	48,000,000	$37M
Wolfspeed Inc	1.65%	30,000,000	$29M
Okta Inc	1.45%	26,250,000	$25M
Lantheus Holdings Inc	1.28%	20,000,000	$22M
Unity Software Inc	1.20%	24,678,000	$21M
Acorda Therapeutics Inc	0.91%	27,951,000	$16M
Okta Inc	0.55%	10,500,000	$10M
Ringcentral Inc	0.10%	2,000,000	$2M
Enphase Energy Inc	0.05%	1,000,000	$920,725
Block Inc	0.05%	1,000,000	$835,000

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0000902664-24-003649
SEC cross-check: SEC data set not published yet

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