{"id":8167,"date":"2023-05-13T09:12:14","date_gmt":"2023-05-13T13:12:14","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/soros-fund-management-cut-tesla-stake-added-netflix-in-1st-quarter\/"},"modified":"2023-05-13T09:12:14","modified_gmt":"2023-05-13T13:12:14","slug":"soros-fund-management-cut-tesla-stake-added-netflix-in-1st-quarter","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=8167","title":{"rendered":"Soros Fund Management cut Tesla stake, added Netflix in 1st quarter"},"content":{"rendered":"<div>\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<u><\/u><span>3\/3<\/span><\/p>\n<p><span class=\"text\">\u00a9 Reuters. FILE PHOTO: The Tesla logo is seen on a car in Los Angeles, California, U.S., July 9, 2020. REUTERS\/Lucy Nicholson\/File Photo<\/span><br \/>\n<i class=\"imgGrad\"><\/i><br \/>\n<span>2\/3<\/span><u><\/u>\n<\/div>\n<p>By David Randall<\/p>\n<p>NEW YORK (Reuters) &#8211; Soros Fund Management, the family office of billionaire George Soros, slashed its stakes in electric vehicle makers Tesla (NASDAQ:) Inc and Rivian Automotive in the first quarter, and added Netflix Inc (NASDAQ:) shares, filings released Friday showed.<\/p>\n<p>Soros purchased shares of Tesla and electric truck startup Rivian in 2022 and bought $35 million of Tesla convertible bonds in 2018.<\/p>\n<p>The firm added new positions in Walmart (NYSE:) Inc, Netflix and Chinese e-commerce company JD (NASDAQ:).com during the quarter. It boosted its stake in Qualcomm (NASDAQ:) Inc by 50.5% to 104,350 shares, nearly tripled its position in <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Nike <\/span><\/span> Inc (NYSE:) to 166,720 shares, and increased its holdings of Uber Technologies (NYSE:) Inc by nearly 50% to 818,955 shares. <\/p>\n<p>The firm also added new stakes in railroad operators CSX Corp (NASDAQ:) and <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Norfolk Southern <\/span><\/span> Corp (NYSE:). Norfolk Southern is facing lawsuits from the state of Ohio and the U.S. Justice Department over a Feb. 3 train derailment of 38 cars, including 11 carrying hazardous materials.<\/p>\n<p>It cut its stakes in Walt <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Disney <\/span><\/span> (NYSE:) Co by 75% to 46,400 shares, and in electric truck maker Rivian Automotive Inc by a similar amount to 3.6 million shares. <\/p>\n<p>During the first quarter the stock market swung between hopes that inflation would be tamed and the failures of Silicon Valley Bank and <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Signature Bank <\/span><\/span> (OTC:), which sparked the largest banking tumult since the 2008 financial crisis.<\/p>\n<p>The positions were revealed in 13-fs filings due at the end of each quarter and released six weeks later.<\/p>\n<p>Soros, 92, is worth an estimated $6.7 billion, according to Forbes. <\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/stock-market-news\/soros-fund-management-cut-tesla-stake-added-netflix-in-1st-quarter-3081645\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>3\/3 \u00a9 Reuters. FILE PHOTO: The Tesla logo is seen on a car in Los Angeles, California, U.S., July 9, 2020. REUTERS\/Lucy Nicholson\/File Photo 2\/3 By David Randall NEW YORK (Reuters) &#8211; Soros Fund Management, the family office of billionaire George Soros, slashed its stakes in electric vehicle makers Tesla (NASDAQ:) Inc and Rivian Automotive [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8168,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-8167","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Soros Fund Management cut Tesla stake, added Netflix in 1st quarter | iFintechWorld<\/title>\n<meta name=\"description\" content=\"3\/3 \u00a9 Reuters. 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