Soros is loading up Amazon, Netflix, Alphabet and Tesla bonds

George Soros' investment firm bought a large amount of Tesla bonds in the first quarter of 2018, giving the under pressure electric carmaker a major backer, a regulatory filing shows.

Soros Fund Management bought $35 million worth of convertible notes, which are bonds that can be converted into a specified number of common stock, according to a Securities and Exchange Commission (SEC) filing.

The quarterly SEC filing does not give commentary as to why Soros' firm bought the Tesla bonds, but it gives a public insight into what the fund is buying and selling. The filing was released on May 15, 45 days since the end of the first quarter, so the positioning of the fund may have changed.

Amazon back in fashion
After dumping its entire holding of Amazon stock in the fourth quarter of 2017, Soros Fund Management bought 51,200 shares in the e-commerce and cloud giant in the three months ended March 31. The Amazon stake was worth $74.1 million. Amazon has been one of the best-performing technology stocks this year, up over 34 percent year-to-date.

Soros' fund also loaded up on 20,800 Alphabet shares.

Netflix appeared to be another favorite of the fund. After buying a large amount of stock in the streaming giant in the fourth quarter of 2017, Soros Fund Management acquired another 148,500 shares in the first quarter of this year. Netflix had a very strong first quarter, adding more subscribers to its service than the market had expected.

On the flipside, Soros' fund dumped its small 34,100 share holding in Twitter. And it did not buy any shares of Facebook after completely cutting its stake in the fourth quarter of 2017.

Source: CNBC

Read more:

• PAUL TUDOR JONES: The next recession will be ‘frightening’
• Jim Rogers about the bubbles, emerging markets, Asia and something else
• Linda Raschke on Twitter: “So nice when someone sums up timeless guidelines with such a well organized layout”
• Ray Dalio: “The World Has Gone Mad and the System Is Broken.”
• Bill Gross: Cheap is not always cheerful in value investing