Hedge fund run by George Soros takes stake in Ford Motor as it increases US stock holdings

By AP
Tuesday, November 17, 2009

Soros hedge fund takes stake in Ford Motor

SAN FRANCISCO — Soros Fund Management LLC, the hedge fund run by billionaire investor George Soros, increased its holdings in U.S. stocks to $6.2 billion from $4.2 billion and bought a stake in Ford Motor Co.

The Soros fund, based in New York, bought 7.3 million shares of Ford Motor that were worth about $53 million, according to a regulatory filing made with the Securities and Exchange Commission on Tuesday. The news sent Ford shares surging to $9 on Tuesday, the stock’s highest point since October 2007.

The fund also increased its stake in AT&T to 4.2 million shares worth $113.7 million from 791,000 shares worth about $19.6 million.

It raised its investment in the Home Depot Inc. to 942,000 shares worth $25.1 million from 190,500 shares worth $4.5 million, and it increased its stake in Lowes Cos. to 1.8 million shares worth $37.7 million from 579,900 shares worth $11.3 million.

The Soros fund also boosted its holdings in Wal-Mart Stores Inc. to 1.1 million shares worth $54.8 million from 89,710 shares worth $4.3 million.

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