Soros Buys Stake in Wal-Mart Stores, Adds to SPDR Gold
The $25 billion Soros Fund Management LLC added a new position in Wal-Mart Stores Inc. in the second quarter and increased its holding in a gold fund, according to a regulatory filing.
The family office for billionaire George Soros added 4.8 million shares in the world’s largest retailer, valued at $337 million as of June 30, according to the filing today with the U.S. Securities and Exchange Commission. The Bentonville, Arkansas-based Wal-Mart is now Soros’s largest U.S. stock holding, according to data compiled by Bloomberg.
Soros, based in New York, also added 564,850 shares of the SPDR Gold Trust (GLD), bringing the number of shares it owns to 884,400. The SPDR Gold Trust, with $65 billion in assets, is the biggest exchange-traded product backed by gold.
Michael Vachon, a spokesman for Soros, declined to comment.
To contact the reporter on this story: Katherine Burton in New York at email@example.com
To contact the editor responsible for this story: Christian Baumgaertel at firstname.lastname@example.org