Soros Reports Over $239mm In Gold Positions, Buys $25mm In Call Options On Juniors

Bull Market Thinking Reports:

A breakdown of the 13-F data indicates that during the first quarter, the Soros Fund:

1. Maintained a $32mm stake in individual miners.

2. Added a staggering1.1 million shares of GDX to its holdings, at a reported price of $37.84 per shareTotal Soros Fund GDX holdings now stand at 2.666 million shares, at a reported value of over $100,000,000.

3. Reduced it’s long position in the GDXJ Junior Miners Index fund, from1.998 million shares to 1.2 million shares—only to turn around, and purchase 1.510 million call options on the same index, at a reported value of $25,200,000. 

4. Lastly, the fund reduced its stake in the GLD gold fund from 600k shares to 530k shares, for a total reported value of $82,000,000.

In summary, as of May 15th, 2013, Soros Fund Management LLC reported owning over $239.2 million in gold related positioning, with over $25 million dedicated to call options on junior mining stocks.

Source: Bull Market Thinking