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George Soros' investment firm takes position in Tesla, bulks up on these tech stocks in Q2

Benzinga Real-time News ·  Aug 14, 2022 21:44

Billionaire investor George Soros' investment management firm, Soros Fund Management LLC, opened a fresh position in electric vehicle pioneer $Tesla(TSLA.US)$ and doubled down on beaten-down tech stocks.

EV Holdings: Soros Fund bought 29,883 shares in Tesla, during a quarter when the company came under significant selling amid production disruptions and CEO Elon Musk's interest in buying $Twitter(TWTR.US)$. The firm, however, either completely liquidated or trimmed positions in other EV and EV-related stocks.

The Soros-run firm sold its entire stake in ride-hailing service $Lyft Inc(LYFT.US)$ and reduced $Uber Technologies(UBER.US)$ holdings from 729,297 at the end of the first quarter to 300,000 in Q2.

Soros Exits Positions In UK Oil Giants: The firm sold all of its 3,000 shares in $BP PLC(BP.US)$ and 13,005 shares of $Shell PLC(SHEL.US)$. Oil stocks gained during the quarter amid an increase in crude oil prices.

Tech Holdings: Soros Fund increased its bets on tech stocks. The firm took a position in Twitter in the first quarter, buying 100,001 shares amid the Musk takeover saga. The firm's other tech transactions were as follows:

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