Paulson slices GLD holdings by more than half • 7:12 AM
•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