George Soros’ investment firm bolstered its stakes in Amazon, Salesforce and Alphabet among other large technology companies.
Soros Fund Management increased its holdings of big tech stocks ahead of their sharp rally in recent weeks, while adding more than $US200 million in shares of American Campus Communities Inc.
’ investment firm bolstered its stakes in Amazon, Salesforce and Alphabet among other large technology companies. All three rank among its top 10 holdings as of the end of June, according to a regulatory filing Friday.The New York-based firm also added a new $US20 million position in Elon Musk’s Tesla, though that represents only about 0.4 per cent of Soros’s $US4.6 billion US equities portfolio, which fell $US664 million in the second quarter.
Tech stocks have surged since entering a bear market earlier this year, with the Nasdaq 100 up more than 20 per cent from its low set in mid-June. US stocks advanced for the fourth-straight week, the longest streak of weekly gains since November.The billionaire philanthropist’s investment firm managed more than $US28 billion as of the start of 2022, including public and private equity.
Money managers overseeing more than $US100 million in US equities have to file a 13F form within 45 days of the end of each quarter to list their holdings in stocks that trade on US exchanges. It’s one of the few places to gain insight into how hedge funds and some large family offices invest.