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Soros shuns shares

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Soros shuns shares

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Billionaire investor George Soros seems to be anticipating further Wall Street turbulence.

In the second quarter, Soros dramatically cut his holdings of shares in dozens of major US companies.

His biggest single holding is now a gold trust.

Information provided to regulators by his investment fund shows that among those sold off were pharmaceutical giant Pfizer, bank JPMorgan Chase and retailer Wal-Mart.

In a quarterly securities filing this week, Soros Fund Management reported owning substantially fewer US 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.