George Soros Buying Gold and Google Inc. NASDAQ:GOOG, Selling Wal-Mart (NYSE:WMT)
During the third quarter, Soros Fund Management, the fund he founded, added to its investment in the SPDR Gold Shares ETF (GLD), the world’s largest gold ETF. According to the latest SEC filing, the firm boosted its stake in GLD to 1.3 million shares, equivalent to about $214 million at last night’s close.
The filing also shows that Soros Fund Management increased its holdings in a pair of gold miner ETFs sponsored by Van Eck. The filing indicates that the fund holds 2.32 million shares of the Market Vectors Gold Miners ETF (GDX) and nearly 2.4 million shares of the Market Vectors Junior Gold Miners ETF (GDXJ). Combined these positions are worth $159 million.
Soros has Bought
15.5 million shares of AIG (NYSE:AIG) for US$507 million, 1.4 million shares of Pioneer Natural Resources (NYSE:PXD) for US$146 million and 189,374 shares of Google Inc (NASDAQ:GOOG) for US$143 million. Other notable additions include internet darling LinkedIn Corp (NASDAQ:LNKD) with 1.2 million shares for US$141 million and English football club Manchester United PLC (MANU) with 3.5 million shares for US$45 million. 2.4 million shares in Johnson & Johnson (NYSE:JNJ), he also added to his stake in General Motors (NYSE:GM) by 3.1 million shares for a total stake of 4.1 million shares.
Soros has Sold
George Soros further cut his stake in Wal-Mart Stores Inc (NYSE:WMT) — selling 2.3 million shares in the third quarter with 2.5 million shares remaining. The fund also reduced stakes in Westport Innovation (NASDAQ:WPRT), Elan PLC (NYSE:ELN), and Pepsi Co (NYSE:PEP).
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