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Soros fund sheds energy stocks
Mon Aug 15, 2005 08:12 PM ET
WASHINGTON, Aug 15 (Reuters) - An investment fund controlled by billionaire George Soros shed energy stocks in the quarter ended June 30 as the total value of its listed holdings declined by 22 percent.
About $100 million in energy stocks that were listed at the end of the previous quarter were absent from a filing made with the U.S. Securities and Exchange Commission on Monday by Soros Fund Management LLC.
The disclosure, filed on form 13F, does not reveal whether the shares were sold or removed from the listing for some other reason.
Removed from the listing were shares of ConocoPhillips (COP.N: Quote, Profile, Research) , Exxon Mobil Corp. (XOM.N: Quote, Profile, Research) , Schlumberger Ltd. (SLB.N: Quote, Profile, Research) , Valero Energy Corp. (VLO.N: Quote, Profile, Research) Suncor Energy Inc. (SU.TO: Quote, Profile, Research) , Sunoco Inc. (SUN.N: Quote, Profile, Research) and XTO Energy Inc. (XTO.N: Quote, Profile, Research) .
The fund continued to list a position in Chevron Corp. (CVX.N: Quote, Profile, Research) and a small portion of its ConocoPhillips stake as of June 30.
Energy stocks had comprised about 4 percent of the fund's listed holdings as of March 31.
Other notable stocks to fall off the Soros listing include Altria Group Inc. (MO.N: Quote, Profile, Research) , Citigroup (C.N: Quote, Profile, Research) , Phelps Dodge Corp. (PD.N: Quote, Profile, Research) and Questar Corp. (STR.N: Quote, Profile, Research)
The filing listed a few new positions including small stakes in blue chips Microsoft Corp. (MSFT.O: Quote, Profile, Research) and Wal-Mart Stores Inc. (WMT.N: Quote, Profile, Research)
The fund listed a total of $1.8 billion in holdings as of June 30, down from $2.3 billion on March 31.
The disclosures are required from funds worth more than $100 million showing the value of certain positions as of the close of the quarter.
The SEC filings exclude most hedged positions, if any, including short stock and short options positions.
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