Soros Fund Management's latest 13F filing with the Securities and Exchange Commission shows a pronounced tilt toward electric utilities and data-center-linked real estate, with the family office's stake in Entergy Corporation up more than 1,000% in share count and its position in Digital Realty Trust up roughly 840% quarter over quarter. The shift first stood out in data tracked on Trade Filings, a Madison Labs research site, which aggregates EDGAR-sourced institutional holdings by manager and quarter.
According to the filing covering the second quarter of 2026, Soros Fund Management reported $8.14 billion in U.S. long equity positions: a figure that reflects reportable common-stock holdings only, not total assets under management, cash, bonds or short positions. Within that book, utilities emerged as the largest sector gainer by weight, up 3.9 percentage points versus the prior quarter, followed by real estate at 2.6 points and industrials at 2.1 points. The Entergy position grew to 913,910 shares worth $104.97 million, while Digital Realty rose to 539,620 shares valued at $96.90 million. Other utility names in the portfolio expanded as well: PPL Corporation shares rose 418.2%, Sempra shares rose 306.3%, and NextEra Energy shares increased 35.5%, alongside positions in American Electric Power, IDACORP, CMS Energy, WEC Energy Group, Xcel Energy, Portland General Electric and Dominion Energy.
Taken together, the filing shows a portfolio that still leans heavily on large technology names (Amazon, Taiwan Semiconductor Manufacturing, Alphabet, Nvidia and Apple remain among the top-ten weightings), but with new capital directed toward the physical infrastructure that supports data centers and computing capacity, including stakes in DigitalBridge Group, Nebius Group and Core Scientific. The concurrent buildup in power-generation and grid names alongside data-center real estate is one reading of the data: a manager positioning around the physical constraints of AI compute growth rather than only the chipmakers and software firms that sit atop that growth.
Why this matters to investors following institutional flows is straightforward: 13F filings disclose only U.S. long equity positions as of quarter-end and arrive with a reporting lag, so they show where a manager's book stood rather than current intent. Still, a documented shift in sector weighting of this magnitude, utilities up nearly four percentage points in a single quarter, offers a data point for those tracking how macro-oriented funds are responding to the buildout of AI infrastructure, distinct from the retail-facing narrative around chip stocks alone.
Soros Fund Management has long been characterized as a macro-driven family office, historically known for currency and rates positioning under George Soros before broadening into thematic equity allocations in recent years. The utilities sector has drawn renewed attention industry-wide as data-center electricity demand has become a recurring theme in corporate disclosures and earnings commentary from power generators and grid operators.
The portfolio shift also arrives against a backdrop of continued strength in AI-linked technology shares. Nvidia reported record quarterly revenue of $96.2 billion and issued forward guidance of $108 billion, according to the company's own disclosure, with its shares trading up 8.7% on the day. Other AI-infrastructure-adjacent names also moved sharply, including Palo Alto Networks up 12.8%, ServiceNow up 10.0%, and Broadcom up 4.5%, underscoring active investor interest in the broader AI supply chain that spans chips, software, networking and now power delivery.
What comes next for observers of institutional filings will be whether the utilities and data-center-real-estate weighting Soros Fund Management showed in this quarter's 13F persists or extends in subsequent filings, and whether other macro-oriented managers disclose similar rotations toward power-generation and grid names. Because 13F data is filed quarterly and with a delay, any read on forward positioning remains provisional until the next disclosure cycle, and none of the figures in the filing constitute a recommendation or projection of future performance for any of the securities named.