Soros cuts some retailers, takes stake in BofA

BOSTON (Reuters) - Billionaire investor and philanthropist George Soros' Soros Fund Management reported holdings of $4.2 billion at the end of the second quarter after cutting its stake in a number of retailers.

The New York-based fund firm cut its stakes in retailer Wal-Mart Stores (WMT.N) and drugstore chain Walgreen Co (WAG.N) during the quarter after boosting its position in Walgreen in the first quarter, according to a regulatory filing made on Friday.

The firm also cut its stake in Lowe's Cos Inc (LOW.N) to 579,000 shares from 5.4 million shares.

The firm also took a stake in Bank of America (BAC.N), whose share price has climbed 20.74 percent since January, at a time when many financial companies appear to be recovering from last year's sharp declines.

Soros took new positions in computer maker Dell Inc (DELL.O) and drug company Pfizer Inc (PFE.N).

The fund made its moves at a time when the broader stock market was rallying on hopes that the global downturn would soon end.

(Reporting by Svea Herbst-Bayliss; Editing by Richard Chang)