Soros Fund Management · George Soros
Latest 13F holdings with ERM3 risk decomposition — how much of the portfolio's return is market beta versus genuine stock-picking, and where the residual risk concentrates.
- Reported AUM
- $4.5B
- Holdings
- 184
- Top-10 weight
- 38%
- As of
- 2026-03-31
- Filed
- 2026-06-14
Return attribution — beta or stock-picking?
Sum of monthly ERM3 attribution over the trailing 12 months (2025-04-30 → 2026-03-31), modeled subset of holdings. Stock selection (residual return) detracted about 24% of the gross return over this window — the factor legs carried the book.
Gross
+12.8%
Market
+15.5%
Sector
-0.8%
Subsector
+2.7%
Stock selection
-3.0%
Top holdings
184 reported positions; top 15 shown. “Stock-specific” is the share of each position's variance not explained by market, sector, or subsector factors.
| # | Holding | Weight | Value | Stock-specific |
|---|---|---|---|---|
| 1 | AMZN | 8.9% | $405M | 48% |
| 2 | CRWV | 5.6% | $254M | 82% |
| 3 | EA | 4.3% | $197M | 98% |
| 4 | NVDA | 4.1% | $187M | 47% |
| 5 | BBG009S3… | 3.6% | $165M | — |
| 6 | AAPL | 2.8% | $127M | 78% |
| 7 | TKO | 2.7% | $122M | 91% |
| 8 | ITRI | 2.2% | $98M | 81% |
| 9 | GTLS | 2.1% | $97M | — |
| 10 | IDA | 1.8% | $83M | 46% |
| 11 | HON | 1.8% | $81M | 63% |
| 12 | CMS | 1.8% | $80M | 33% |
| 13 | MSFT | 1.7% | $78M | 52% |
| 14 | CWAN | 1.5% | $70M | — |
| 15 | KDK | 1.5% | $68M | 100% |
95% of reported AUM is in the ERM3 model universe; attribution and risk shares cover that subset. Source: SEC Form 13F-HR, filed 2026-06-14.
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