Investor's Corner

Tesla dumped by Soros Fund despite first quarter rebound

Credit: @JasemAsh via Tesla Owners Wisconsin/Twitter

The Soros Fund has sold its entire position in Tesla, despite the automaker’s shares rebounding considerably during the year’s first quarter.

Tesla investors were faced with a true test of confidence at the end of last year with the automaker’s stock nearing historic lows, and luckily for those who have held their position, Tesla stock has rebounded quite considerably since then, up 56% to date. However, not all investors have shared this confidence, including billionaire investor George Soros who, according to a 13f filing with the SEC, completely dumped his position in the automaker by the end of Q1.

According to the 13f filing with the SEC, the Soros Fund has completely dumped its position in Tesla, which at the beginning of the year was worth roughly $14.3 million, and at Tesla’s peak during Q1, was worth approximately $28.3 million, consisting of just over 132,000 shares at the time. Along with this massive Tesla stock selloff, the Soros Fund has dramatically slashed its position in Rivian by 75%. Rivian stock accounted for just 1.1% of the Fund by the end of Q1.

This Tesla selloff follows a significant valuation slide for the Soros fund since Q4 ’21. Prior to then, the Fund had either met or exceeded market growth every quarter since Q1 ’18. The Soros Fund closed out Q1 at a cumulative worth of $6.48 billion, a considerable contraction from Q4 ’22.

Perhaps even more strangely, the Soros Fund has abandoned its relatively meager position in Tesla just as the stock has found its footing. As noted above, Tesla stock has rebounded 56% since the start of the year. Despite a slight dip since the end of Q1, many analysts now believe the automaker’s shares to be a great entry point, considering the company’s production ramp and the arrival of the highly anticipated Cybertruck.

William is a shareholder in both Tesla and Rivian.

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Tesla dumped by Soros Fund despite first quarter rebound
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