George Soros Increased Tesla Stake By 270% As Stock Plunged In Q4; But That's Not All — He Is Now Also Betting On This Legacy Automaker

Amid the downturn in electric vehicle stocks in the fourth quarter, billionaire investor George Soros’ Soros Fund Management has made changes to its EV portfolio.

What Happened: The firm held 332,046 shares of Tesla Inc. TSLA at the end of the fourth quarter, valued at $40.90 million, 13F filings by the firm showed. This represents a 270% increase in the number of shares it held at the end of the third quarter.

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Soros’ fund also opened a fresh position in the Cathie Wood-owned Ark Innovation ETF ARKK, in which Tesla has a 10.92% weighting.

On the other hand, the fund liquidated part of its Rivian Automotive Holdings Inc. RIVN holding. It held 14.35 million shares of the company, valued at $264.38 million, down 12.3% from 16.36 million shares at the end of the third quarter.

Soros Fund took a fresh position in legacy automaker General Motors Corp. GM. It bought 500,000 shares of the company, valued at $16.82 million.