Soros favoured gold in Q2, cut US equities
Gold now represents the billionaire investor's fund's biggest holding by dollar value and with the sale of so many other holdings, gold ETFs now represent almost 13% of the firms total equities
BOSTON (Reuters) - Billionaire investor George Soros in the second quarter stuck with his big bet on gold but slashed his holdings in dozens of major U.S. companies from Verizon Communications to Pfizer.

In a quarterly securities filing on Monday, Soros Fund Management reported owning substantially fewer U.S. listed stocks than three months earlier. The fund listed $5.1 billion of equities as of June 30, down 42 percent from $8.8 billion at the end of March.

The fund firm said it owned 5.24 million shares of the SPDR Gold Trust (GLD.P) worth $638 million as of June 30. Though down slightly from the fund's 5.59 million shares owned at the end of the first quarter, that was the fund's biggest holding by dollar value.