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Despite ‘Bubble’ Talk, Gold, Commodities Still Big Soros Holdings (GLD, KGC, NG, MEE, IOC, MON, AAPL, CTV, CVS)
by Max Magee | August 17th | Filed in: Hedge Fund and Institutional News
After calling gold prices a “bubble” earlier this year, billionaire investor George Soros continued to trim a big stake in the SPDR Gold Trust (GLD), but the ETF was still his largest, U.S.-listed, equity position at the end of the Q2. He was also adding to his stake in one gold miner and trimming his stake in another. Soros made his name as a hedge fund pioneer, running one of the first such funds. He is still a frequent commenter on the markets, though he has turned much of the control of Soros Fund Management over to his two sons, Robert and Jonathan. However, the firm’s moves are still closely watched. With that in mind, investors can take a look at Soros’ top U.S.-listed, equity holdings at the end of Q2 to see where the billionaire was putting his money. Though trimming his gold ETF position, Soros was also adding to his stake in miner Kinross Gold (KGC) while cutting his stake in another, Novagold Resources (NG). Many of Soros’ other big buys were in the commodity sector, with increased stakes in coal miner Massey Energy Company (MEE), oil and gas producer InterOil Corporation (IOC), and agriculture giant Monsanto Company (MON). He also bought shares in consumer electronics giant Apple (AAPL), communications cable maker CommScope (CTV), and pharmacy chain CVS Caremark (CVS). Looking at tickerspy.com’s graph charting the performance of Soros’ end-of-Q2 holdings so far this quarter, one can see that his top holdings are staying ahead of the market. If you want to see the rest of Soros’ top holdings, visit tickerspy.com to see his fund’s top positions and a chart of their combined performance. Pro portfolio performance is based on institutions’ top-15 holdings as disclosed in quarter-end filings with the SEC. Pro performance does not take into account additional holdings beyond the top 15 nor does it include positions that are not required to be disclosed by the SEC. As such, Pro portfolio performance should be considered an approximation and not a precise record of how an institution has performed over time.
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August 17th, 2010 at 4:26 pm
Soros’ Fund does not have a drop of water (KO, PEP, BUD, TAP, BF-B and so on) in his fund. That’s why he has been changing his holdings over and over again, showing huge negative YTD performance and burning his own fund’s cash. His fund, without water, will keep on burning itself. Without water, he might end up giving up stock investment.
August 17th, 2010 at 7:18 pm
If I were him, I would concentrate the money in the following three only:
KO (35%, water)
MSFT (35%, non-water)
BRK-A (30%, water and non-water almost 50:50)
August 18th, 2010 at 1:35 pm
IOC is going to explode by the end of the year. Soros knows what he is doing.