George Soros disclosed in his Q1 2026 13F filing that he increased his SPY (SPDR S&P 500 ETF) allocation by 692% from the prior quarter, expanding it to the largest position in the portfolio at 10.5% ($773M). Soros Fund Management's total assets under management (AUM) stand at $3.8B across 20 holdings, with new positions added in LIN and TSM.
Top 5 Holdings — Q1 2026
- SPY: $773M (10.5%)
- AMZN: $405M (5.5%)
- XLE: $303M (4.1%)
- CRWV: $220M (3.0%)
- XOP: $218M (3.0%)
Key Trading Moves
Soros Fund's largest holding this quarter was SPY, accounting for 10.5% of the portfolio at $773M — a 692% surge from the prior quarter. AMZN ranked second at $405M (5.5%), while energy sector ETFs XLE ($303M, 4.1%) and XOP ($218M, 3.0%) also placed among the top holdings, underscoring a macro-hedging-oriented positioning. AI infrastructure play CRWV saw its allocation grow 65% to $220M (3.0%), while NVDA ($187M) and TSM ($177M) also made the top 10, maintaining exposure to the semiconductor and AI value chain.
- SPY: Position expanded to $773M (+692%) — a major increase in S&P 500 index exposure, betting broadly on the overall market
- LIN: New position of $129M — expanding defensive asset allocation into the industrial gas and infrastructure sector
- TSM: New position of $127M — reinforcing semiconductor foundry exposure, continuing to bet on the AI value chain
Among the new purchases, industrial gas company LIN was the largest at $129M, followed by TSM at $127M and Berkshire Hathaway at $64M. Meanwhile, five holdings — DAY, EXK, CYBR, NGDN, and Confluent — were fully sold and removed entirely from the portfolio. Solar company RUN saw its position cut by 99% to just $264,420, while DIS and XLF were also reduced by 98% and 96%, respectively, effectively winding down those positions.
Outlook
Soros Fund appears to be reinforcing a macro-focused strategy that combines index tracking with commodity hedging, simultaneously increasing its SPY and energy ETF (XLE, XOP) positions. At the same time, the fund's move to exit individual stock positions like DAY and CYBR and rotate into large-cap infrastructure and semiconductor names such as LIN and TSM suggests an intent to reposition toward more liquid, defensive assets amid a volatile market environment.
