George Soros has unveiled notable changes to his investment portfolio in his latest quarterly filing.
The update shows a pivot toward bearish energy bets, increased exposure to artificial intelligence and semiconductors, and a full retreat from leveraged China positions in the last quarter of 2025.
The disclosure from Soros Fund Management reveals one of the firm’s most active quarters in recent memory, featuring more than 50 new positions and significant reallocations across sectors.
Particulars of the update indicate that the fund opened approximately $415 million in put options tied to energy stocks and another $163 million in similar positions, bringing total new bearish energy exposure to roughly $580 million.
The move signals caution on the outlook for oil and gas equities even as broader markets remain volatile.
At the same time, the firm boosted several large-cap technology holdings. Its stake in Microsoft (NASDAQ: MSFT) surged 159% to about $127 million, while its position in Taiwan Semiconductor Manufacturing Company (NYSE: TSM) climbed 157% to roughly $106 million.
Holdings in Nvidia (NASDAQ: NVDA) also increased by 22% to around $124 million, underscoring a continued commitment to AI-driven chipmakers.
The portfolio shows additional new downside exposure through a roughly $123 million put position in CoreWeave (NASDAQ: CRWV). Meanwhile, financial and consumer-facing names saw notable increases.
At the same time, the fund expanded its stake in Ally Financial by 129% to about $76 million and raised its position in Electronic Arts by 290% to approximately $88 million. New equity stakes were also initiated in Broadcom (NASDAQ: AVGO) and Tesla (NASDAQ: TSLA).
Soros bearish signals
On the other side of the ledger, Soros Fund Management exited several high-profile positions.
The firm sold call options tied to Chinese equities, including positions linked to the iShares China Large-Cap ETF and the KraneShares CSI China Internet ETF, eliminating roughly $234 million in combined exposure.
It also fully divested holdings in Aramark, KKR, Goldman Sachs, and Booking, marking a decisive pullback from select financial and services names.
Despite the reshuffling, several core holdings remain dominant within the portfolio.
Amazon (NASDAQ: AMZN) stands as the largest position at approximately $545 million, followed by Alphabet at around $200 million, Salesforce at nearly $138 million, and TKO Group Holdings at roughly $133 million.
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