Soros Fund: Total Holdings Of $6.7 Billion At Sep 30 Versus $5.1 Billion Jun 30
November 15 2010 - 06:45PM
Dow Jones News
The value of billionaire investor George Soros' hedge fund
increased by 31.6% to $6.7 billion at the end of the third quarter
compared with the previous quarter, as he boosted his stake in
blue-chip stocks AT&T Inc. (T) and Monsanto Co. (MON),
according to a regulatory filing late Monday.
The fund had reported a value of $5.1 billion at the end of the
second quarter.
Soros Fund Management bought 1.3 million shares of AT&T,
raising the value of the position to $51.4 million as of Sept. 30,
according to a filing with the U.S. Securities and Exchange
Commission.
Soros also purchased 897,813 shares of Monsanto--his
second-largest holding on a dollar basis--during the quarter. The
position is now valued at $312.6 million.
The fund also reported a new position in drug maker Dendreon
Corp. (DNDN), disclosing that it purchased 1.8 million shares
valued at $74.8 million at the end of the third quarter.
In a reversal from its second-quarter disclosure, the fund
bought 2.1 million shares of pharmaceutical giant Pfizer Inc.
(PFE). Soros had previously sold 5 million shares of Pfizer in the
second quarter. His position is now valued at $41.4 million.
Additionally, Soros reported no stake in Best Buy Co. (BBY). The
fund sold 936,895 shares during the third quarter.
Other new holdings include Mentor Graphics Corp. (MENT). Soros
disclosed the purchase of 76.5 million convertible notes of the
company, valued at $79.5 million
Many investors that manage more than $100 million are required
to file 13-Fs with their stock holdings within 45 days of the end
of a given quarter, giving the public its freshest possible glimpse
into the portfolios of well-known money managers. Most hedge-fund
managers and others wait until the last possible moment to make
these filings.
The third quarter's deadline is Monday.
-By Brett Philbin, Dow Jones Newswires; 212-416-2173;
brett.philbin@dowjones.com
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