What did George Soros do last quarter?
The strategy: concentrated purchases and put option holdings
A put option is a financial instrument whose value increases as the asset price decreases.
Their use usually indicates a desire to protect a portfolio from market declines or a direct bet against a specific sector:
1️⃣Purchase of $XOP PUT (new and large purchase): options against the oil and gas exploration and production sector ETF - this is currently the largest put position in Soros's portfolio (about 4.8% of the portfolio).
2️⃣Purchase of $XLE PUT (new purchase): options against the broad US energy sector - Soros is betting on declines in energy prices.
4️⃣Purchase of $CRWV PUT (new purchase): options against Corwave - a company in the cloud and technology sector.
5️⃣Sale of $SMH PUT (6.4% reduction): decreasing the bet against the global semiconductor sector.
6️⃣Sale of $SPY PUT (20.6% reduction): a significant reduction in insurance against declines in the S&P 500 index, which may indicate greater confidence on his part in the overall market.
Purchases and increased positions
Soros chose to significantly strengthen his exposure to the worlds of technology, artificial intelligence, and enterprise infrastructure:
New purchases
🔣 Broadcom $AVGO of about $35 million
🔣 Tesla $TSLA a position of about $25 million
🔣 Dayforce - $DAY:
Purchase of shares in Dayforce, a global cloud human resources and payroll software company.
Significant position increases:
Microsoft - $MSFT 📱 158% increase: a massive strengthening of the Microsoft holding.
Taiwan Semi - $TSM 🛒 157% increase in the world's largest chip manufacturer from Taiwan.
SPY - $SPY 🪙 44.8% increase - purchase of additional units in the ETF tracking the S&P 500.
Nvidia $NVDA 💻 21.5% increase.
Apple -$AAPL 📱 19% increase - strengthening the holding in tech giant Apple.
Salesforce - $CRM 11.9% increase, increasing exposure to Salesforce, the global leader in customer management software - Soros continues to buy into the dips, amidst the chaos in software stocks.
Amazon - $AMZN 📱 5.9% increase, an addition to e-commerce and cloud giant Amazon - which is now the largest holding in the portfolio - 6.3% of the portfolio.
TKO - $TKO 🥊 2.5% increase, an addition to the media and entertainment group that owns the UFC and WWE brands.
Sales and position reductions
$SW ❌ 68.9% sale - a drastic reduction in the holding of Smurfit Westrock, a global packaging and paper products company.
$GOOGL ❌ 2.9% sale - a slight sale of Google shares, the search and digital advertising giant.
We are monitoring - we will continue to update