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Thursday, Aug 15
Paulson slices GLD holdings by more than half
- The largest investor in the SPDR Gold Trust (GLD), Paulson & Co. cut its holdings by more than half to 10.2M shares in the quarter ended June 30. It's the first cut since 2011 and came "due to a reduced need for hedging," says the firm in an emailed response to questions.
- Funds run for George Soros and Daniel Loeb sold their entire GLD stakes in Q2.
- As for gold miners (GDX), Paulson sold its call options on Barrick Gold (ABX), but maintained stakes in Agnico Eagle (AEM), Allied Nevada (ANV), and Iamgold (IAG). Holdings in Freeport-McMoRan (FCX) were boosted to 15.5M shares from 9M.
- Sources: 13F, Previous 13F
- Related ETFs: IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI, GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING.