Soros Fund Management Boosted its Stake in Tesla (TSLA) by 270% in Q4 2022

Image: Tesla

Soros Fund Management added Tesla shares in Q4 2022, increasing its stake in the company by around 270%. The position is valued at more than $47 million at Monday's closing price.

While Tesla's stock was declining in price last year and investors were panicking, Soros Fund Management seized the opportunity to significantly increase its stake in the manufacturer. It purchased 242,399 Tesla shares during the fourth quarter, according to a filing Monday with the Securities and Exchange Commission. This reflects an impressive increase of around 270%, bringing the fund's total holdings to 332,046 Tesla shares.

Soros Fund Management bought Tesla shares during 2022. In November, it filed a 13F-HR form disclosing ownership of 89,647 shares of Tesla with total holdings valued at $23,779,000 as of September 30, 2022. The fund had filed a previous 13F-HR on August 12, 2022, disclosing 29,883 shares of Tesla at a value of $20,124,000. However, the Q4 acquisition was the largest, and likely reflected a strong belief that the company's financial and operating results in the last quarter of the year will be great. The increase in its Tesla stake shows Soros' growing confidence that the company is on track to achieve its goals, despite market fluctuations.

H/T @SawyerMerritt/Twitter

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