Soros Fund Management boosts Intel stake to $340 million, cuts Apple holdings

Soros Fund Management, George Soros' family office, significantly expanded its stake in Intel Corporation during the third quarter, accumulating a position valued at around $340.3 million. This increase in holdings, made up of roughly 2.73 million Intel shares, took place despite Intel's ongoing financial struggles. The fund owned 2.83 million Intel shares by the end of September, a sharp contrast to the 100,000 shares held three months prior.

Intel's stock has risen by nearly 62% since the start of the year, driven by demand for its AI-related hardware, yet the company continues to grapple with operational issues. Intel's troubles have included a weak personal computer market, manufacturing difficulties, and the costly endeavor of expanding production capacity. Following this significant move, Soros Fund Management also decreased its investment in Apple Inc and ON Semiconductor Corporation.

The Apple stake was reduced by 25.7%, now totaling 393,680 shares, while the company's ON Semiconductor position shrank by 92.7%, down to 16,594 shares. These adjustments were detailed in quarterly Form 13F filings, offering a glimpse into institutional investment positions as of the reporting date.