Billionaire George Soros isn’t waiting around to see if this year’s surge in gold-mining shares will last.
Soros Fund Management LLC, which took a $263.7 million stake in Barrick Gold Corp. in the first quarter, cut its holdings in the world’s biggest producer of the metal by 94 percent in the ensuing three months, a U.S. regulatory filing showed Monday. After climbing 169 percent in the year through June, its best-ever performance for the period, Barrick shares have slipped from a three-year high reached last month.
Barrick, Soros’s biggest holding in the first quarter, was the investor’s biggest sale in the second quarter.
