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13F filings 13F is partial

Soros Fund

George Soros
Performance
Assuming an initial $100,000 · Benchmark: S&P 500
Hypothetical
Replication modeTop 5Top 10>1%
YTD1Y5Y8YAll
CompoundFixed

Gains are reinvested — principal and returns grow together.

$50k$100k$150k2021/082023/042024/112026/07$175k$82k
Backtest through 2026-07-28
After filingAt quarter endBenchmark · S&P 500
After filingbuys the holdings only once the filing is public — about 45 days after the quarter ends. The path someone could actually have taken.
At quarter endpretends the same holdings were bought on the last day of the quarter, before anyone could have known them. Not possible in reality — shown dashed for comparison only.
BenchmarkS&P 500 (SPY) total return over the same window — what doing nothing but holding the market would earn.

Hypothetical backtest — not a real trading record. Simulated on public data from 2013-08: each position is bought only after the filing became public (using no information unavailable at the time), with trading costs deducted, on a total-return basis. Past performance does not predict future results.

All metrics below are computed on the After-filing curve.
Return?
5.9%
Compound annual return over the sample.
Risk?
21.9%
How much returns swing (annualized stdev); lower is steadier.
Return vs risk?
0.37
Return ÷ volatility; higher is better.
Beat SPX?
−8.2%
Annualized gain over the S&P.
Excess?
−6.5%
The strategy's own annual excess, apart from the market.
Significance?
t=−1.66 · moderate
t-value: how solid the excess is — higher is more reliable.
Max DD?
−53.0%
Largest peak-to-trough fall.
Leverage?
1.00×
How many times it rises and falls together with the market.
Longest recovery?
66 mo
Longest wait from a peak back to a new high.
About
George Soros

George Soros, founder of the Quantum Fund, is the archetype of macro investing. His theory of 'reflexivity' holds that markets reshape the very fundamentals they are meant to reflect, so he bets big when the feedback loop turns. His 1992 wager against the British pound, which helped force it out of Europe's exchange-rate mechanism, earned him the title 'the man who broke the Bank of England.'

Holdings & changes
Replication modeTop 5Top 10>1%
Current holdingsPosition changes
2026-Q1 filing · filed 2026-05-15
>1% · filed weights
Others 57.0%
TickerNameWeightvs last filing
AMZN
Amazon.Com Inc
7.3%2.4
EA
Electronic Arts Inc
3.6%+2.0
NVDA
Nvidia Corp
3.4%+1.2
TSM
Taiwan Semiconductor Manufacturing Company Ltd.
3.2%+1.3
GOOGL
Alphabet Inc. Class A Common Stock
3.0%0.6
AAPL
Apple Inc.
2.3%+0.3
TKO
TKO Group Holdings, Inc.
2.2%
SDA
Sealed Air Corp - US
2.1%+1.7
GTLS
Chart Industries, Inc.
1.8%+0.7
IDA
IDACORP, Inc.
1.5%
HONGBP
HONGBP
1.5%+1.2
CMS
CMS Energy Corporation
1.4%
MSFT
Microsoft Corp
1.4%0.8
HTO
H2o America
1.3%New
ITRI
Itron Inc
1.3%+0.6
KDK
Kodiak AI, Inc. Common Stock
1.2%0.7
CRM
Salesforce, Inc.
1.2%1.2
PEN
Penumbra Inc
1.2%New
WEC
WEC Energy Group Inc
1.1%+0.9
MDLN
Medline Inc. Class A common stock
1.0%
Risk
13F is partialGlobal macro and reflexivity — levered bets on currencies and rates (the “broke the Bank of England” trade) never appear in a 13F.
The replication is built from public filings: ~45-day lag, US long stock positions only; replication returns are not the fund’s real returns, and the manager may have traded since.
Past / backtested performance does not predict the future. Masterfolio is an information service / publisher, not an investment adviser.
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Soros Fund · George Soros · Masterfolio