Soros Fund holdings favor Aluminum Corp of China, CVRD, gold stocks
As billionaire philanthropist George Soros promotes human rights, the Soros Fund apparently has no problem investing in a suite of mining stocks.
Posted: Wednesday , 15 Aug 2007
RENO, NV -
Billionaire political activist, human rights advocate, and philanthropist George Soros apparently is just as fond of mining investment as any financial speculator or institutional investor.
In a 13F filing with the SEC for the second quarter, the New York-based Soros Fund Management disclosed a vast array of holdings including a number of mining companies.
Among the fund's larger holdings are the Aluminum Corp of China with 15 million shares valued at $25.29 million, and CVRD with 8.7 million shares of a sponsored ADR valued at $388 million.
The Soros Fund portfolio also contains a suite of gold miners, albeit at much lower levels of shareholdings, some copper, a few aluminum manufacturers, and a dearth of coal company shares.
Gold shareholdings were led by Freeport-McMoRan Copper& Gold with 407,474 shares with a value of $33.7 million. Other major gold mining company equities holdings include AngloGold Ashanti, 36,292 shares valued at $1.37 million; 148,058 shares of Barrick Gold with a total value of $4.3 million; and 60, 900 shares of Newmont Mining valued at $2.38 million.
Other gold holdings include Gammon Gold, Goldcorp, Iamgold, Kinross, Northern Orion Resources, and NovaGold. Soros also has holdings in aluminum manufacturers Alcan and Alcoa, base metals miner Lundin Mining, silver miners Apex Silver and Silver Wheaton, copper miner Southern Copper, and PGM producer Stillwater.