Billionaire investor George Soros's investment fund sold stakes in electric-vehicle makers Tesla Inc. and Rivian Automotive Inc. in the quarter ended Sept. 30 - instead preferring to open a fresh position in legacy automaker Ford Motor Co., according to a securities filing released late Friday.

Rivian shares fell 8% on Friday.

Soros Fund Management LLC, the investment firm and family office linked to the billionaire philanthropist, also placed a new bet on Walt Disney Co. $(DIS)$

Soros's stake in Tesla $(TSLA)$ had been small, but it had sizeable holdings in Rivian (RIVN) of about 35 million shares, worth about $525 million as of Friday.

Investors have grown more skeptical of EV makers as concerns about consumer demand have come front and center.

For Rivian, a lot will be riding on cheaper vehicles that the electric-truck maker hopes to have ready in the first half of 2026. Tesla, meanwhile, has endured criticism for having no immediate plans to bring a fresh model to the market, cheaper or not.

Ford $(F)$ recently said it could not forgo EVs altogether, even as its internal combustion engine and hybrid offerings comprise the bulk of its sales. The Detroit carmaker's executives reportedly have discussed ending the electric version of its iconic F-150 pickup truck.

Securities regulators require all institutional investment managers holding more than $100 million in certain securities to disclose their positions in filings called 13-Fs - offering a window into a firm's stock and ETF holdings at the end of the quarter, as well as its possible strategies.

In another such a filing Friday, Berkshire Hathaway Inc. $(BRK.A)$ $(BRK.B)$ disclosed a surprise stake in Alphabet Inc. $(GOOG)$ $(GOOGL)$, after having steered clear of the company for years despite holdings in other tech giants.