The billionaire investor and philanthropist george soros made some interesting investment moves during the fourth quarter of 2022: Soros Fund Management bought or added positions in Marathon Digital, MicroStrategy and Silvergate Bank, according to an SEC filing. Recently, his investment management company increased its stake in Tesla and Peloton by dropping Zoom and Twitter. Report.
George Soros close to Tesla and MicroStrategy stocks
The movements of the fourth quarter of Soros Fund Management were disclosed in a 13F filing with the SEC. The document reveals that the company had purchased 242,399 actions of Tesla, an increase of around 270%, bringing the fund’s total holdings to 332,046 Tesla shares. This decision surprised many investors as the actions from the electric vehicle maker fell last year. However, the leadership of Tesla in the electric vehicle market and its valuation amid growing demand for electric cars could be attractive to Soros. In addition, he invested in the ETF of Cathie Wood, Ark Innovationwhich is the main shareholder of Tesla.
The Soros Fund also purchased more than 83 million shares of Platoon, representing a 370% increase in the fund’s stake in the company. Additionally, the billionaire has also taken a new stake in the struggling used-car seller Carvana Co. and a new stake in Lyft, grabbing more than 83 million shares. At the house of Uber Technologies, the fund also increased its stake. The filing also showed new stakes in big financial names like Capital One Financial Corp.., Citigroup Inc. and Discover Financial Services. Within the automotive industry, Soros Fund Management increased its stake in Ford Motor Co.. 6.4% to 83 million shares. The fund also acquired 500,000 shares of General Motors Co.
George Soros embraces the crypto industry
The company’s interest in the market of crypto-cash is also noticeable since Soros took a new stake of nearly 40 million shares in Marathon Digital Holdings and acquired 17.2 million shares of Block Inc. The fund also took a smaller stake in the bank known for its commitment to the crypto universe. Silvergate Capital Corp. Soros Fund Management purchased $39.6 million of convertible debentures from Marathon Digital Holdings. These are long-term types of debt that you can convert into equity after a specified period of time.
In addition to common stock bets/hedges, the fund continues to hold nearly $200 million in preferred stock MicroStrategy. MicroStrategy could be considered a proxy for holding bitcoins due to the company’s large crypto holdings. The fund also disclosed a short position in Silvergate Bank, holding 100,000 shares ofoptions of sale. Soros’ bet is probably a hedging strategy on MicroStrategy stocks through a set of options.
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