George Soros’s Soros Fund Management placed new bets on railroads and the gig economy during the first quarter, recalibrated its holdings in a struggling media industry and dumped electric-vehicle maker Tesla Inc.
During the first quarter, the fund scooped up 363,483 shares of railroad operator CSX Corp. CSX, +0.09%, according to a filing. The fund also bought 27,075 shares worth of Norfolk Southern Corp. NSC, +0.76%, whose train derailment and chemical spill in Ohio this year raised bigger questions about railroad-industry safety.
The fund also cut its holdings in Walt Disney Co. DIS, -0.35% to 46,000 shares, from 189,609 in the prior quarter. It also lowered its position in Amazon.com Inc. AMZN, -1.71% to 706,561 shares, from 901,482 over that period. However, the Soros fund acquired 35,000 shares of Netflix Inc. NFLX, -1.41%. The media and e-commerce industries have faced layoffs, amid a slowdown in digital advertising and online shopping demand.
Soros Fund Management also bought 66,075 shares of food-delivery service DoorDash Inc. DASH, -2.01%.
The fund also made some plays toward fitness. The fund upped its stake in Nike Inc. NKE, -1.64% by 161.6% with the purchase of 103,000 shares. Soros also bought 34,300 shares of Walmart Inc. WMT, -0.03%.
The fund sold off its positions in American Airlines Group Inc. AAL, -0.36% and Tesla TSLA, -2.38%.