Pimco’s Gross Boosts Treasury Holdings, Reduces Cash in July

Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., boosted holdings of Treasuries in July during the biggest monthly rally in the securities since August 2010 as the U.S. confronted the possibility of default.

Gross boosted his $245 billion Total Return Fund’s investment in U.S. government securities to 10 percent of assets in July from 8 percent in June, according to Newport Beach, California-based Pimco’s website. He cut cash equivalents and money-market securities to 15 percent from 29 percent, making it the lowest level in the fund’s cash holdings since January.