George Soros

George Soros’s Soros Fund Management ended the first quarter of 2026 with roughly $9.1 billion in disclosed equity assets, and the filing shows a portfolio that is less a pure macro bet than a hybrid of index hedging and concentrated single-stock picks. The largest position is the SPDR S&P 500 ETF at 8.5% of the book, a holding that provides broad market exposure but also a liquid tool for macro adjustments. Below that, Soros has built meaningful stakes in Amazon (4.4%) and NVIDIA (2.1%), names that align with a growth tilt, but the more distinctive entries are Coreweave at 2.4% and Bill Holdings at 2.0%. Coreweave, an AI infrastructure provider, and Bill, a payments software firm, are not typical mega-cap holdings for a macro shop; they suggest a willingness to take concentrated, thematic positions in areas where the fund sees structural demand. The portfolio also carries a notable payments and utility theme. Global Payments sits at 2.4%, and PG&E at 2.0%, alongside two separate SPDR sector ETF positions that together account for about 5.7% of assets. Electronic Arts rounds out the top ten at 2.2%, a consumer discretionary bet that diverges from the AI and fintech concentration elsewhere. The mix of sector ETFs and individual names indicates Soros is layering tactical sector exposure on top of specific equity convictions, rather than relying on broad index funds alone. What separates this filing from peers is the absence of a dominant macro trade. There is no outsized currency, bond, or commodity position visible in the equity book; instead, the fund is expressing its macro view through sector ETFs and a handful of high-conviction stocks. The SPY stake provides downside liquidity, while the Coreweave and Bill Holdings positions carry the real risk. Soros is running a portfolio that is diversified by sector but concentrated in a few themes: AI infrastructure, payments, and utilities. That is a more granular approach than the classic macro playbook, and it suggests the fund is finding opportunity in specific company stories rather than broad economic direction.