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Soros' holdings increase, takes stake in Ford

BOSTON
Mon Nov 16, 2009 9:50pm EST

Stocks

   

BOSTON (Reuters) - Billionaire investor George Soros' hedge fund reported holdings of $6.2 billion during the third quarter, an increase of $2 billion, after taking a stake in automaker Ford and boosting his holdings in communications services stocks.

According to a regulatory filing on Monday Soros Fund Management took a 7.3 million stake in Ford Motor Co (F.N) during the third quarter that is valued at $53 million.

Soros also raised his holdings of AT&T (T.N) to 4.2 million shares at the end of the third quarter, from 791,000, while he raised his stake in Verizon (VZ.N) to 4.6 million shares, from 594,853 in the second quarter.

He also raised his stake in retailer Wal Mart (WMT.N) Stores to 1.1 million shares valued at $54.8 million.

Soros cut his stake in Petroleo Brasileiro SA (PETR4.SA) (PBR), or Petrobras, to 7.4 million shares from 9.8 million shares.

(Reporting by Svea Herbst-Bayliss; editing by Carol Bishopric)


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