George Soros’ Fund Makes Aggressive Tech Bets in Q3, Alphabet Stake Soars 2,300%

Billionaire investor George Soros positioned his fund as a major buyer of underperforming tech stocks during the third quarter. The Soros Fund increased its Alphabet (GOOGL) position by 2,300% while boosting Apple (AAPL) holdings by 1,555% and establishing Amazon (AMZN) as its top portfolio holding at 8% of $6.32 billion AUM.

These contrarian bets came as the three tech giants lagged behind their 'Magnificent Seven' peers earlier in 2023. The subsequent rallies in all three positions - fueled by strong iPhone sales, antitrust victory, and robust earnings respectively - validated the fund's timing. Notably, the fund showed restraint toward high-flyers like Nvidia (NVDA), increasing that position by just 1%.

The investment moves reveal a bifurcated strategy: aggressive accumulation of rebounding tech blue-chips paired with new positions in traditional sectors like entertainment and chemicals. This balanced approach suggests cautious Optimism about both tech sector resilience and broader economic recovery.