Soros Capital Loads Up On MU, AMAT, AMD And TSM In Massive Semiconductor Pivot

• To fund the shift, Soros Capital sharply reduced or exited several industrial and energy names that had been prominent in the prior quarter.
• The portfolio now holds 58 positions, with the top 10 accounting for nearly 59% of assets.
• Micron, TSMC, Caterpillar, and Applied Materials sit among the largest stakes.

Soros Capital Management LLC more than doubled its equity portfolio to $559 million in the second quarter of 2026, pivoting away from industrials and energy toward semiconductors and AI-related technology.

The semiconductor sector has been one of the market’s strongest performers this year, fueled by booming demand for artificial intelligence and shortages of memory chips that have pushed prices higher. Major tech companies are also pouring huge sums into AI systems, further boosting the sector.

Sharp Pivot To Semiconductors And AI

The firm’s most notable moves were large new positions in chipmakers and related suppliers, according to its filing with the Securities and Exchange Commission on Friday for holdings as of June 30. Micron Technology (MU) debuted with a $42.5-million stake, making it the second-largest holding. Applied Materials (AMAT) followed with a $34.5-million new position, while Flex (FLEX) and Advanced Micro Devices (AMD) entered with $32.2 million and $30.2 million stakes, respectively. ON Semiconductor was also newly added at $20.6 million.

The firm’s biggest single addition was the iShares MSCI South Korea ETF (EWY) at $42.8 million, giving broad exposure to Korean chip giants. Taiwan Semiconductor (TSM) saw its position surge more than 1,300% to $37.5 million. Caterpillar (CAT) nearly doubled to $34.9 million. These changes pushed technology and semiconductor exposure to dominate the top of the book.

Cuts In Industrials And Energy

To fund the shift, Soros Capital, which manages assets for the Soros family, sharply reduced or exited several industrial and energy names that had been prominent in the prior quarter. Comfort Systems USA (FIX) saw the largest cut, down $22.4 million. GE Vernova (GEV) was trimmed by $11.3 million, while Bloom Energy, Analog Devices (ADI), and Emcor Group (EME) were also significantly reduced or sold.

The portfolio now holds 58 positions, with the top 10 accounting for nearly 59% of assets. Micron, TSMC, Caterpillar, and Applied Materials sit among the largest stakes.

How Did Retail Traders React?

On Stocktwits, retail sentiment around iShares Semiconductor ETF (SOXX), which tracks a basket of chip-making and semiconductor equipment stocks, stayed ‘neutral’ over the past week, coupled with ‘normal’ levels of retail chatter.

Meanwhile, sentiment around Energy Select Sector SPDR Fund (XLE), which tracks a basket of stocks involved in oil, gas, renewable power, or energy infrastructure, improved from ‘neutral’ to ‘bullish,’ coupled with ‘normal’ message volume.

While SOXX has added about 70% year-to-date, XLE has clocked 31% gains. 

Read More: From ‘Math Won’t Pass Muster’ To Full Expectation: Fund Manager’s Dramatic Pivot On TSLA-SPCX Deal

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