宏观主观Discretionary macro · famous

Soros Fund Management

索罗斯基金管理

研究可用度中Medium research usability

13F-RS 研究可用度13F-RS research usability 59.9 覆盖coverage 75% · 置信confidence B

结论先行Answer first

前五大占15.5%，最值得继续核验的动作是退出JAZZ INVESTMENTS I LTDTop five represent 15.5%; exit from JAZZ INVESTMENTS I LTD is the clearest next diligence lead

最大可见普通证券持仓为AMAZON COM INC（3.5%）；季度快照换手代理为31.3%，前十大延续率为100.0%。该机构归入“主观宏观/家族办公室”，13F只能解释公开的美国可报告证券多头。

The largest visible non-option holding is AMAZON COM INC (3.5%). The quarterly snapshot turnover proxy is 31.3%, and top-ten persistence is 100.0%. The manager is classified as Discretionary macro/family office; 13F covers only visible reportable U.S. long securities.

下一步Next diligence

把退出JAZZ INVESTMENTS I LTD作为研究线索，结合公司基本面、估值、催化剂及13D/G核验；不要直接跟单。

Treat the exit from JAZZ INVESTMENTS I LTD as a research lead and verify fundamentals, valuation, catalysts and any 13D/G filings; do not copy mechanically.

可见总值Visible value$8.14bn前期 2026-03-31: $9.12bn（仅作规模对照）Prior 2026-03-31: $9.12bn (scale context only)

经济持仓数Economic positions266按 CUSIP / 证券类型规范化normalized by CUSIP / security type

前五集中度Top-five concentration15.5%集中度不是能力评分concentration is not skill

季度换手代理Quarterly turnover proxy31.3%股数与同价漂移估算share / same-price-drift estimate

前十大延续Top-ten persistence100.0%与前季比较versus prior quarter

最新申报日Latest filing date2026-08-14报告期report date 2026-06-30

CIK · accession · accepted date

本季申报链Current filing chain

先展示 13F-NT 关系通知，再展示解析到的 13F-HR / HR-A。价值单位说明保留检测结果和归一化倍数。

Relationship notices appear before resolved 13F-HR / HR-A filings. Unit notes preserve the detection result and normalization multiplier.

法律申报人Legal filer	CIK	Form	Accession	申报日Filed	解析 / 单位说明Resolution / unit note
SOROS FUND MANAGEMENT LLC	CIK 0001029160	13F-HR	0000902664-26-003507	2026-08-14	usd_consistent_with_implied_prices

2026-03-31 → 2026-06-30

持仓与季度变化Holdings and quarterly change

前十大可见普通证券Top visible non-option holdings 10

证券Security	Put / Call	申报价值Filed value	权重Weight	股数 / 标的股数Shares / underlying shares	股数变化Share change
AMAZON COM INCCOM · CUSIP 023135106	—	$281.8m	3.46%	1,182,529	-39.2%
TAIWAN SEMICONDUCTOR MANUFACSPONSORED ADS · CUSIP 874039100	—	$249.4m	3.06%	522,158	-0.0%
GLOBAL PMTS INCNOTE 1.500% 3/0 · CUSIP 37940XAU6	—	$222.7m	2.73%	247,500,000	0.0%
ALPHABET INCCAP STK CL A · CUSIP 02079K305	—	$213.1m	2.62%	596,286	3.9%
NVIDIA CORPORATIONCOM · CUSIP 67066G104	—	$213.0m	2.62%	1,064,635	-0.8%
ELECTRONIC ARTS INCCOM · CUSIP 285512109	—	$199.1m	2.44%	970,990	0.5%
BILL HOLDINGS INCNOTE 4/0 · CUSIP 090043AF7	—	$181.4m	2.23%	209,679,000	0.0%
PG&E CORPNOTE 4.250%12/0 · CUSIP 69331CAL2	—	$179.6m	2.21%	175,000,000	0.0%
RIVIAN AUTOMOTIVE INCNOTE 4.625% 3/1 · CUSIP 76954AAB9	—	$155.8m	1.91%	131,565,000	-8.3%
APPLE INCCOM · CUSIP 037833100	—	$153.2m	1.88%	529,538	5.8%

新建仓位New positions 10

证券Security	Put / Call	申报价值Filed value	权重Weight	股数 / 标的股数Shares / underlying shares	股数变化Share change
SUPER MICRO COMPUTER INC7 DEP CM SR A WI · CUSIP 86800U500	—	$111.5m	1.37%	2,175,408	—
AMERICAN ELEC PWR CO INCCOM · CUSIP 025537101	—	$105.1m	1.29%	768,000	—
NEBIUS GROUP N.V.SHS CLASS A · CUSIP N97284108	—	$85.6m	1.05%	310,000	—
APOGEE THERAPEUTICS INCCOM · CUSIP 03770N101	—	$74.9m	0.92%	564,500	—
SOUTHERN CONOTE 3.250% 6/1 · CUSIP 842587ED5	—	$65.8m	0.81%	65,000,000	—
DIGITALBRIDGE GROUP INCCL A NEW · CUSIP 25401T603	—	$65.0m	0.80%	4,118,793	—
ALPHABET INCDEP SHS RP1/20 B · CUSIP 02079K602	—	$60.2m	0.74%	1,200,000	—
SPIRIT AEROSYSTEMS INCNOTE 3.250%11/0 · CUSIP 85205TAQ3	—	$53.9m	0.66%	34,500,000	—
TAYLOR MORRISON HOME CORPCOM · CUSIP 87724P106	—	$51.9m	0.64%	723,523	—
MACERICH COCOM · CUSIP 554382101	—	$48.8m	0.60%	1,938,506	—

增持仓位Added positions 10

证券Security	Put / Call	申报价值Filed value	权重Weight	股数 / 标的股数Shares / underlying shares	股数变化Share change
ENTERGY CORP NEWCOM · CUSIP 29364G103	—	$105.0m	1.29%	913,912	1,084.2%
DIGITAL RLTY TR INCCOM · CUSIP 253868103	—	$96.9m	1.19%	539,618	839.8%
ALPHABET INCCAP STK CL A · CUSIP 02079K305	—	$213.1m	2.62%	596,286	3.9%
WEBSTER FINL CORPCOM · CUSIP 947890109	—	$85.1m	1.04%	1,113,487	56.4%
APPLE INCCOM · CUSIP 037833100	—	$153.2m	1.88%	529,538	5.8%
ITRON INCCOM · CUSIP 465741106	—	$98.5m	1.21%	1,137,853	46.4%
CORE SCIENTIFIC INC NEW*W EXP 01/23/202 · CUSIP 21874A114	—	$42.0m	0.52%	2,235,000	155.6%
S&P GLOBAL INCCOM · CUSIP 78409V104	—	$41.1m	0.50%	100,834	509.9%
FORGENT POWER SOLUTIONS INCCOM SHS CL A · CUSIP 34631F102	—	$35.1m	0.43%	629,106	515.6%
SEMPRACOM · CUSIP 816851109	—	$40.9m	0.50%	441,114	306.3%

减持仓位Reduced positions 10

证券Security	Put / Call	申报价值Filed value	权重Weight	股数 / 标的股数Shares / underlying shares	股数变化Share change
AMAZON COM INCCOM · CUSIP 023135106	—	$281.8m	3.46%	1,182,529	-39.2%
JD.COM INCNOTE 0.250% 6/0 · CUSIP 47215PAJ5	—	$98.5m	1.21%	100,000,000	-33.4%
VISTRA CORPCOM · CUSIP 92840M102	—	$669.9k	0.01%	4,223	-98.3%
FIGURE TECHNOLOGY SOLUTIOCOM CL A · CUSIP 349381103	—	$3.1m	0.04%	100,000	-90.0%
INTERACTIVE BROKERS GROUP INCOM CL A · CUSIP 45841N107	—	$13.2m	0.16%	151,470	-76.5%
COREBRIDGE FINL INCCOM · CUSIP 21871X109	—	$21.0m	0.26%	733,788	-65.6%
WOODWARD INCCOM · CUSIP 980745103	—	$10.6m	0.13%	24,854	-75.1%
SMURFIT WESTROCK PLCSHS · CUSIP G8267P108	—	$70.0m	0.86%	1,512,798	-40.0%
GFL ENVIRONMENTAL INCSUB VTG SHS · CUSIP 36168Q104	—	$341.7k	0.00%	9,287	-98.2%
RIVIAN AUTOMOTIVE INCNOTE 4.625% 3/1 · CUSIP 76954AAB9	—	$155.8m	1.91%	131,565,000	-8.3%

退出仓位Exited positions 10

证券Security	Put / Call	申报价值Filed value	权重Weight	股数 / 标的股数Shares / underlying shares	股数变化Share change
JAZZ INVESTMENTS I LTDNOTE 2.000% 6/1 · CUSIP 472145AF8	—	$158.4m	1.74%	130,399,000	-100.0%
SEALED AIR CORP NEWCOM · CUSIP 81211K100	—	$115.7m	1.27%	2,751,799	-100.0%
AMICUS THERAPEUTICCOM · CUSIP 03152W109	—	$83.2m	0.91%	5,753,186	-100.0%
HONEYWELL INTL INCCOM · CUSIP 438516106	—	$80.9m	0.89%	358,052	-100.0%
HOLOGIC INCCOM · CUSIP 436440101	—	$76.6m	0.84%	1,013,552	-100.0%
CLEARWATER ANALYTICS HLDGS ICL A · CUSIP 185123106	—	$69.6m	0.76%	2,941,405	-100.0%
SALESFORCE INCCOM · CUSIP 79466L302	—	$67.4m	0.74%	361,291	-100.0%
PENUMBRA INCCOM · CUSIP 70975L107	—	$66.8m	0.73%	203,434	-100.0%
VARONIS SYS INCNOTE 1.000% 9/1 · CUSIP 922280AD4	—	$59.5m	0.65%	68,055,000	-100.0%
TRI POINTE HOMES INCCOM · CUSIP 87265H109	—	$48.7m	0.53%	1,041,426	-100.0%

期权切片Options slice 10

Put/Call 股数是标的股数；13F 没有执行价、到期日、权利金或净方向。Put/call shares are underlying shares; 13F omits strike, expiry, premium and net direction.

证券Security	Put / Call	申报价值Filed value	权重Weight	股数 / 标的股数Shares / underlying shares	股数变化Share change
SELECT SECTOR SPDR TRST STR ENERG ETF · CUSIP 81369Y506	PUT	$106.2m	1.30%	2,000,000	-59.6%
TAIWAN SEMICONDUCTOR MANUFACSPONSORED ADS · CUSIP 874039100	PUT	$81.2m	1.00%	170,000	-54.7%
NVIDIA CORPORATIONCOM · CUSIP 67066G104	PUT	$80.0m	0.98%	400,000	—
COREWEAVE INCCOM CL A · CUSIP 21873S108	PUT	$64.7m	0.79%	650,000	-77.1%
ELASTIC N VORD SHS · CUSIP N14506104	CALL	$56.9m	0.70%	997,700	31.1%
STATE STR SPDR S&P 500 ETF TTR UNIT · CUSIP 78462F103	PUT	$56.0m	0.69%	75,000	-93.7%
FIRST SOLAR INCCOM · CUSIP 336433107	CALL	$23.6m	0.29%	100,000	—
PUBLIC SVC ENTERPRISE GROUPCOM · CUSIP 744573106	PUT	$20.3m	0.25%	250,000	—
RIVIAN AUTOMOTIVE INCCOM CL A · CUSIP 76954A103	CALL	$13.0m	0.16%	750,000	—
HUNTSMAN CORPCOM · CUSIP 447011107	CALL	$10.6m	0.13%	1,000,000	9.0%

13F-RS-v1.0

评分拆解Score breakdown

完整方法Full methodology

维度Dimension	得分Score	比例Ratio
申报完整性Filing integrity	15.0 / 15	100%
实体映射Entity mapping	10.0 / 10	100%
策略适配度Strategy fit	6.8 / 15	45%
集中度信息密度Concentration signal	4.8 / 10	48%
高确信度可识别性Conviction identifiability	3.3 / 15	22%
延续性 / 换手Persistence / turnover	8.1 / 10	81%
申报时滞Filing lag	0.0 / 10	0%
不可见风险Opacity risk	7.6 / 10	76%
独立共识Independent consensus	4.3 / 5	86%

策略分类：宏观主观。分数衡量公开13F的研究可用度，不评价未来收益。Strategy classification: Discretionary macro. The score measures public-13F research usability, not future returns.

H（高确信度可识别性）当前以单仓≥2%为有限代理，尚未接入风格基准主动权重，因此该分项覆盖度只有50%。H (conviction identifiability) currently uses positions ≥2% as a limited proxy; style-benchmark active weights are not yet available, so this component has only 50% coverage.