The New York-based firm also added a new US$20 million position in Elon Musk’s Tesla Inc, though that represents only about 0.4% of Soros’s US$4.6 billion US equities portfolio, which fell US$664 million in the second quarter. Other new additions included US$168 million of Alleghany Corp stock and US$201.5 million in shares of American Campus, which Blackstone Inc agreed to buy in April.

Tech stocks have surged since entering a bear market earlier this year, with the Nasdaq 100 up more than 20% from its low set in mid-June. US stocks advanced for the fourth-straight week, the longest streak of weekly gains since November.

The billionaire philanthropist’s investment firm managed more than US$28 billion as of the start of 2022, including public and private equity. Soros, 92, has used his fortune to fund groups promoting justice, democracy, human rights and progressive politics through his Open Society Foundations.

He has poured billions into his philanthropic efforts, and most of his firm’s assets now belong to the foundations rather than the Soros family. His personal wealth is estimated at US$8.5 billion, according to the Bloomberg Billionaires Index.

Money managers overseeing more than US$100 million in US equities have to file a 13F form within 45 days of the end of each quarter to list their holdings in stocks that trade on US exchanges. It is one of the few places to gain insight into how hedge funds and some large family offices invest.