A Deeper Look At George Soros’ Big Quarter Of Selling Gold

george soros gold bug

Yesterday we noted how George Soros took the axe to a huge position in his the SPDR Gold Trust, eliminating 99% of his position in Q1, according to his latest 13F.

But that ETF isn’t the only way a fund manager can play through equities (remember, we have no idea what he’s doing with derivatives etc.). There are also miners.

So let’s take a quick look at Soros’ various position in miners, and how that compares to the previous quarter:

  • Barrick Gold: 8500 shares vs. 4800 in the previous quarter.
  • Eldorado gold: 21,000 shares, totally new position.
  • Goldcorp: 7100 shares, totally new position.
  • Great Basin Gold: 6 million shares, up from 5.1 million in the previous quarter. (This is a $2 stock, so not a huge position).
  • Kinross Gold: 1.3 million shares, DOWN from 3.9 million in the previous quarter. (This is a $14 stock, so this is actually some real selling)
  • Market Vectors Gold Miner ETF 9,800, down form 14,400
  • NovaGold: 3.5 million shares, WAY DOWN from 12.9 million in the previous quarter. (At $10/share, this is also substantial)

So, a little bit of moving in and out of things, and new positions, though all the really big moves are sales.

For more on what investors have been doing with gold, see here >