George Soros' family office, Soros Fund Management, sold its entire stake in Tesla during the first quarter, likely benefiting from the stock's impressive rebound and significant gains.
The fund also reduced its holdings in electric-vehicle startup Rivian Automotive and First Horizon Bank, while making new purchases of shares in Walmart, Netflix, and Chinese e-commerce company JD.com.
Tesla's stock saw a 68% surge in the first quarter, driven by a broader rally in the technology sector, although it has since moderated its gains to approximately 37% year-to-date.