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
- $3.1B
- Holdings
- 112
- Top-10 weight
- 53%
- As of
- 2025-12-31
- Filed
- 2026-03-16
Return attribution — beta or stock-picking?
Sum of monthly ERM3 attribution over the trailing 12 months (2025-01-31 → 2025-12-31), modeled subset of holdings. Roughly 17% of the gross return came from stock selection (residual return) — most of the return came from factor exposure, not selection.
Gross
+29.0%
Market
+15.6%
Sector
+1.2%
Subsector
+4.8%
Stock selection
+4.9%
Top holdings
112 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 | 19.5% | $614M | 48% |
| 2 | CRM | 4.4% | $138M | 43% |
| 3 | TKO | 4.2% | $133M | 91% |
| 4 | MSFT | 4.0% | $127M | 52% |
| 5 | NVDA | 3.9% | $124M | 47% |
| 6 | CRWV | 3.9% | $123M | 82% |
| 7 | AAPL | 3.6% | $113M | 78% |
| 8 | KDK | 3.5% | $109M | 100% |
| 9 | EA | 2.8% | $88M | 97% |
| 10 | FIGR | 2.7% | $86M | 97% |
| 11 | RUN | 2.5% | $78M | 74% |
| 12 | IDA | 2.4% | $74M | 46% |
| 13 | CWAN | 2.2% | $69M | — |
| 14 | CRBG | 2.0% | $62M | 54% |
| 15 | HUN | 1.9% | $59M | 66% |
100% of reported AUM is in the ERM3 model universe; attribution and risk shares cover that subset. Source: SEC Form 13F-HR, filed 2026-03-16.
Interrogate this portfolio
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