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
- $5.0B
- Holdings
- 191
- Top-10 weight
- 33%
- As of
- 2026-06-30
- Filed
- 2026-08-14
Return attribution — beta or stock-picking?
Sum of monthly ERM3 attribution over the trailing 12 months (2025-07-31 → 2026-06-30), modeled subset of holdings. Stock selection (residual return) detracted about 33% of the gross return over this window — the factor legs carried the book.
Gross
+8.6%
Market
+16.4%
Sector
-1.1%
Subsector
-3.8%
Stock selection
-2.8%
Top holdings
191 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 | NVDANVIDIA Corporation | 5.9% | $293M | 47% |
| 2 | AMZNAmazon.com, Inc. | 5.6% | $282M | 46% |
| 3 | GOOGLmodeled on GOOGAlphabet Inc. | 4.3% | $213M | 60% |
| 4 | EAElectronic Arts Inc. | 4.0% | $199M | — |
| 5 | AAPLApple Inc. | 3.1% | $153M | 86% |
| 6 | TKOTKO Group Holdings, Inc. Class A | 2.3% | $116M | 92% |
| 7 | AEPAmerican Electric Power Company, Inc. | 2.1% | $105M | 42% |
| 8 | ETREntergy Corporation | 2.1% | $105M | 36% |
| 9 | ITRIItron, Inc. | 2.0% | $98M | 86% |
| 10 | DLRDigital Realty Trust, Inc. | 1.9% | $97M | 66% |
| 11 | CRWVCoreWeave, Inc. Class A | 1.9% | $95M | 75% |
| 12 | GTLSChart Industries, Inc. | 1.7% | $87M | — |
| 13 | TICKER-N… | 1.7% | $86M | — |
| 14 | WBSWebster Financial Corporation | 1.7% | $85M | — |
| 15 | IDAIDACORP, Inc. | 1.7% | $83M | 48% |
95% of reported AUM is in the ERM3 model universe; attribution and risk shares cover that subset. Source: SEC Form 13F-HR, filed 2026-08-14.
How concentrated is this book?
Quarter-end concentration across 54 filings from 2013-03-31 to 2026-06-30, with the latest filing set against this manager's own median.
- Effective N
- 51.0
- median 24.3
- Top 5 weight
- —
- no median
- Top 10 weight
- 34.0%
- median 51.5%
- Weight HHI
- —
- no median
Effective N is inverse-Herfindahl breadth, not a holding count: it falls well below the number of positions when one name dominates, which is the case worth seeing. This book held 187 positions at 2026-06-30.
Interrogate this portfolio
Ask the AI risk analyst what changed last quarter, where the concentration risk sits, or how your portfolio overlaps with George Soros's.