* Soros Fund Management reports $8.8 bln in holdings
* Firm owned $663 mln of gold fund
* Firm buys Citigroup shares, lifts Monsanto stake
(Recasts lead, adds details from filing)
BOSTON, Feb 16 Billionaire investor George
Soros' hedge fund more than doubled its bet on the price of
gold during the fourth quarter, a portion of the firm's total
U.S.-listed equity holdings of $8.8 billion at the end of
The New York-based firm also disclosed in a filing on
Tuesday with the U.S. Securities and Exchange Commission that
it bought almost 95 million shares of Citigroup (C.N) during
the quarter, worth $313 million by the end of the year. Soros
reported no holdings of the troubled bank's shares at the end
of the third quarter.
Soros Fund Management owned 6.2 million shares of the SPDR
Gold Trust, an exchange-traded fund that owns gold bullion, at
the end of the year worth $663 million. That was up from 2.5
million shares at the end of the third quarter.
Soros and other noted investors like John Paulson have
previously touted gold as a hedge against inflation, further
economic turmoil or a decline in the value of the U.S. dollar.
Last month at the World Economic Forum in Davos, Soros said
"the ultimate asset bubble is gold," but he declined to say
whether he was investing in the precious metal.
Soros' most recent SEC filing also revealed large bets on
seed producer Monsanto (MON.N) and Brazilian gas and oil giant
Petroleo Brasileiro SA (PETR4.SA) (PBR.N), also known as
The firm held 3.9 million shares of Monsanto at the end of
the fourth quarter, up from 1.1 million three months earlier.
Soros also reported a stake of 7.7 million shares of
Petrobras's U.S. ADRs, worth $369 million, and a slight
increase from the 7.4 million receipts held at the end of the
third quarter. Soros had another 5.9 million shares of
ADRs worth $249 million, virtually unchanged from his holding
three months earlier.
Soros also reported raising his holdings in oil company
Hess Corp (HES.N) and telecommunications company AT&T Inc (T.N)
According to the regulatory filing, Soros Fund Management
raised its holding in carmaker Ford Motor Co (F.N) to 10.9
million shares from 7.3 million shares at the end of the third
quarter, when Soros started to accumulate his position.
Soros also raised his holdings of AT&T for the second
straight quarter to 4.7 million shares at the end of the fourth
quarter, from 4.2 million shares at the end of the third
Large investors such as Soros are required to report
holdings of U.S.-listed equities at the end of each quarter,
but not short positions or holdings of other securities like
bonds and over-the-counter derivatives contracts. Investors are
also allowed to file some holdings on confidential reports if
they are trading into or out of a position at the end of a
(Reporting by Aaron Pressman, Ros Krasny, Svea
Herbst-Bayliss; Editing by Andre Grenon and Steve Orlofsky)