Soros Favored Gold, May Have Sold Petrobras
George Soros, the billionaire investor, in the second quarter stuck with his big bet on gold but may have sold his holdings in Petróleo Brasileiro, also known as Petrobras, Reuters reported.
In a quarterly securities filing on Monday, Soros Fund Managementreported owning substantially fewer United States-listed stocks than three months earlier. The fund listed $5.1 billion of equities as of June 30, down 42 percent from $8.8 billion at the end of March.
The fund firm said it owned 5.24 million shares of the SPDR Gold Trust worth $638 million as of June 30. Though down slightly from the fund’s 5.59 million shares owned at the end of the first quarter, that was the fund’s biggest holding by dollar value.
With the sale of so many other holdings, the Gold ETF constituted almost 13 percent of the firm’s total equities, up from 7 percent at the end of the first quarter.
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