Eton Park Capital Management LP, the $13 billion hedge fund run by Eric Mindich, moved a significant amount of capital into the gold market last quarter, acquiring shares of SPDR Gold Shares (NYSEArca:GLD) and Gold Fields Ltd. (NYSE:GFI).
Mindich acquired 6.58 million shares of SPDR and 780,000 shares of Gold Fields in the quarter via Eton Park.
SPDR Gold Shares has been one of the favorites of hedge funds in the past, and continues to be. Other major hedge fund holders of SPDR include John Paulson and George Soros, although both held their positions and didn't add any shares last quarter.
They did add gold miners, including Gold Fields by Paulson and Soros as well.
Major gold miners were targeted by major hedge funds in general, with Barrick Gold (NYSE:ABX), Newmont Mining (NYSE:NEM) and Goldcorp (NYSE:GG) among the largest increase in holding for funds, accounting for the sixth, seventh and eight places in the order listed above.
SPDR Gold Shares landed in second place as far as the greatest increase in investments from hedge funds in the latest quarter, with all of them together holding 68.2 million shares in SPDR.
With data showing a continuing weak global and American economy, we should see an even larger increase for the current quarter of hedge fund holdings in gold.
Showing posts with label SPDR Gold Shares. Show all posts
Showing posts with label SPDR Gold Shares. Show all posts
Tuesday, August 17, 2010
Monday, May 17, 2010
Exxon Mobil (NYSE:XOM), Petroleo Brasileiro SA (NYSE:PBR) Stakes Raised by Soros Fund Management
George Soros juggled up his Soros Fund Management holdings, adding strongly in the energy and oil sector, including Exxon Mobil (NYSE:XOM), Petroleo Brasileiro SA (NYSE:PBR) and Suncor Energy (NYSE:SU), while cutting back on exposure to the financials like Citigroup (NYSE:C) and The Bank of New York Mellon Corporation (NYSE:BK).
The Bank of New York Mellon Corporation and Altria Group (NYSE: MO) he liquidated positions in altogether.
Somewhat surprising and probably regretfully in hindsight, he cut back his position in SPDR Gold Trust (NYSE:GLD).
Soros mentioned earlier in the year that gold was a bubble ready to burst, but he misread the situation, and he continues to misread it, as gold continues on its upward climb.
This isn't to say there won't be corrections in the gold market, but the bubble situation isn't close to appearing yet, as it will take clueless people entering the gold market who don't understand the underlying fundamentals to create a gold bubble.
With all the money floating out there, printed by central banks around the world, there is little to keep gold from continuing to go up in price, as well as well as to protect their assets in the ongoing economic hardships we're going to face, as Europe continues to crumble and China is almost sure to cut back on exports because of its battle against inflation through increasing interest rates and clamping down on excesses in its property market.
The stake in Exxon Mobil by Soros Fund Management was increased by 80 percent, while the stake in Petroleo Brasileiro SA (NYSE:PBR) had 18 percent added to it.
Their position in SPDR Gold Trust was cut by 9.6 percent.
The Bank of New York Mellon Corporation and Altria Group (NYSE: MO) he liquidated positions in altogether.
Somewhat surprising and probably regretfully in hindsight, he cut back his position in SPDR Gold Trust (NYSE:GLD).
Soros mentioned earlier in the year that gold was a bubble ready to burst, but he misread the situation, and he continues to misread it, as gold continues on its upward climb.
This isn't to say there won't be corrections in the gold market, but the bubble situation isn't close to appearing yet, as it will take clueless people entering the gold market who don't understand the underlying fundamentals to create a gold bubble.
With all the money floating out there, printed by central banks around the world, there is little to keep gold from continuing to go up in price, as well as well as to protect their assets in the ongoing economic hardships we're going to face, as Europe continues to crumble and China is almost sure to cut back on exports because of its battle against inflation through increasing interest rates and clamping down on excesses in its property market.
The stake in Exxon Mobil by Soros Fund Management was increased by 80 percent, while the stake in Petroleo Brasileiro SA (NYSE:PBR) had 18 percent added to it.
Their position in SPDR Gold Trust was cut by 9.6 percent.
Thursday, February 18, 2010
George Soros, Marc Faber, John Paulson, Jim Rogers All Buying Gold
George Soros, Marc Faber, John Paulson, Jim Rogers
One thing I learned a long time ago was to ignore most the chatter and look at what people are really doing with their money, rather than what they assert.
In that regard, George Soros, Marc Faber, John Paulson and Jim Rogers, based on their actions and holdings, think gold is an extremely valuable asset to hold during these turbulent economic times.
George Soros is the latest to put his money into gold, specifically via the world's largest gold exchange-traded fund (ETF) - SPDR Gold Trust. Paulson is also known to have large holdings in SPDR as well.
Faber and Jim Rogers have both stated they have significant gold holdings, and while not selling any, are always waiting for gold market corrections to invest more, which I would think they did recently.
So even though some say we're in a gold bubble, even Soros, look at where he placed his money to see if he in fact really believes that. If he did, he wouldn't have took the actions he did.
George Soros, Marc Faber, John Paulson, Jim Rogers
One thing I learned a long time ago was to ignore most the chatter and look at what people are really doing with their money, rather than what they assert.
In that regard, George Soros, Marc Faber, John Paulson and Jim Rogers, based on their actions and holdings, think gold is an extremely valuable asset to hold during these turbulent economic times.
George Soros is the latest to put his money into gold, specifically via the world's largest gold exchange-traded fund (ETF) - SPDR Gold Trust. Paulson is also known to have large holdings in SPDR as well.
Faber and Jim Rogers have both stated they have significant gold holdings, and while not selling any, are always waiting for gold market corrections to invest more, which I would think they did recently.
So even though some say we're in a gold bubble, even Soros, look at where he placed his money to see if he in fact really believes that. If he did, he wouldn't have took the actions he did.
George Soros, Marc Faber, John Paulson, Jim Rogers
Soros, Paulson Large Gold Stakes
George Soros and John Paulson like gold
George Soros and John Paulson revealed in their required 13-F filings that they held significant gold investments in their funds, led by the SPDR Gold Trust (NYSEArca: GLD).
The commitment by Soros Fund Management reveals Soros believes gold will continue to climb in price, as it increased its holdings by 152 percent in SPDR Gold Trust, which brings its total to $663 million. That's the largest holding of the entire fund.
For Paulson & Co., they have a $3.38 billion stake in SPDR, which is over 11 percent of the value of the fund. Paulson has invested a quarter of billion of his own money in the hedge fund.
George Soros and John Paulson like gold
George Soros and John Paulson revealed in their required 13-F filings that they held significant gold investments in their funds, led by the SPDR Gold Trust (NYSEArca: GLD).
The commitment by Soros Fund Management reveals Soros believes gold will continue to climb in price, as it increased its holdings by 152 percent in SPDR Gold Trust, which brings its total to $663 million. That's the largest holding of the entire fund.
For Paulson & Co., they have a $3.38 billion stake in SPDR, which is over 11 percent of the value of the fund. Paulson has invested a quarter of billion of his own money in the hedge fund.
George Soros and John Paulson like gold
Wednesday, January 6, 2010
Commodity ETFs Double Inflows in 2009
Commodity ETFs
In 2009 commodity ETFs enjoyed a solid year, as the capital flowing into the exchange-traded funds were over double what they brought in in 2008, mirroring the growth of ETFs in general.
What was unusual in the commodity ETF sector, was that a large number of the commodity ETFs didn't perform that well, and in many cases lost huge amounts of money.
Even so, that isn't deterring investors from moving significant amounts of capital into ETFs, and 2010 looks like it'll be another banner year for them.
In 2008, commodity ETFs tookin about $13.4 billion, while in 2009 it exploded to $30.1 billion. Most of that was invested in ETFs which bet prices for agriculture, energy and metal would rise during the year.
One of the ongoing winners for ETFs was the largest commodity ETF and gold fund, SPDR Gold Trust, which continues to take advantage of increasing prices of gold, and enjoyed a 24 percent return in 2009. They should enjoy good returns for years into the future, although there will be obvious times of pullback and corrections.
To me tracking ETFs will always be the best way to invest in them, while managed ETFs not only generate more fees, but in many cases underperform because of costs, payment of management, and not really mirroring the market like an low-managed ETF will do.
Commodity ETFs
In 2009 commodity ETFs enjoyed a solid year, as the capital flowing into the exchange-traded funds were over double what they brought in in 2008, mirroring the growth of ETFs in general.
What was unusual in the commodity ETF sector, was that a large number of the commodity ETFs didn't perform that well, and in many cases lost huge amounts of money.
Even so, that isn't deterring investors from moving significant amounts of capital into ETFs, and 2010 looks like it'll be another banner year for them.
In 2008, commodity ETFs tookin about $13.4 billion, while in 2009 it exploded to $30.1 billion. Most of that was invested in ETFs which bet prices for agriculture, energy and metal would rise during the year.
One of the ongoing winners for ETFs was the largest commodity ETF and gold fund, SPDR Gold Trust, which continues to take advantage of increasing prices of gold, and enjoyed a 24 percent return in 2009. They should enjoy good returns for years into the future, although there will be obvious times of pullback and corrections.
To me tracking ETFs will always be the best way to invest in them, while managed ETFs not only generate more fees, but in many cases underperform because of costs, payment of management, and not really mirroring the market like an low-managed ETF will do.
Commodity ETFs
Monday, January 4, 2010
Investing ETF Gold Funds - 'SPDR Gold Shares'
Investing ETF Gold Funds - 'SPDR Gold Shares'
Gold will continue to be a force for some time ahead, no matter if it gets hit by a temporary surge in the value of the U.S. dollar or not. And even if it does, it won't matter, as the greenback won't be able to hold strong for a very long period of time if it happens at all, so gold will perform stongly for years into the future, even with temporary corrections in the midst of its continual upward price movement.
With that in mind, a great way to invest in gold can be through an ETF gold fund, and one of the fastest growing in the world - not with just ETF gold funds, but all ETF funds in existence - is 'SPDR Gold Shares.
An ETF gold index fund is listed on an exchange just like a stock, and so in easy to invest in, and relatively inexpensive as well, as they are not management intensive, and other than storage costs, fairly free of other fees.
Along with trading on an American exchange, SPDR Gold Shares also trades on the Tokyo Stock Exchange, Hong Kong Stock Exchange and the Singapore Stock Exchange. That exposes it to a variety of markets around the world.
At this time, the SPDR Gold Shares fund stores and underlying 1,133 metric tons of gold in the London vaults of HSBC Bank USA. That amounts to about 36,300,000 ounces with a value of close to $40.2 billion at today's gold market price.
With very few exceptions, SPDR Gold Shares of course primarily holds gold. There are few times when it holds cash as well, but that's very temporary until new buying opportunities arise.
Investing in an ETF gold index fund like SPDR Gold Shares is an easy way for investors to participate in the ongoing bull gold market, and with the ease of trading gold like a security, it eliminates many of the barriers many investors face when thinking of investing in the precious metal.
Investing ETF Gold Funds - 'SPDR Gold Shares'
Gold will continue to be a force for some time ahead, no matter if it gets hit by a temporary surge in the value of the U.S. dollar or not. And even if it does, it won't matter, as the greenback won't be able to hold strong for a very long period of time if it happens at all, so gold will perform stongly for years into the future, even with temporary corrections in the midst of its continual upward price movement.
With that in mind, a great way to invest in gold can be through an ETF gold fund, and one of the fastest growing in the world - not with just ETF gold funds, but all ETF funds in existence - is 'SPDR Gold Shares.
An ETF gold index fund is listed on an exchange just like a stock, and so in easy to invest in, and relatively inexpensive as well, as they are not management intensive, and other than storage costs, fairly free of other fees.
Along with trading on an American exchange, SPDR Gold Shares also trades on the Tokyo Stock Exchange, Hong Kong Stock Exchange and the Singapore Stock Exchange. That exposes it to a variety of markets around the world.
At this time, the SPDR Gold Shares fund stores and underlying 1,133 metric tons of gold in the London vaults of HSBC Bank USA. That amounts to about 36,300,000 ounces with a value of close to $40.2 billion at today's gold market price.
With very few exceptions, SPDR Gold Shares of course primarily holds gold. There are few times when it holds cash as well, but that's very temporary until new buying opportunities arise.
Investing in an ETF gold index fund like SPDR Gold Shares is an easy way for investors to participate in the ongoing bull gold market, and with the ease of trading gold like a security, it eliminates many of the barriers many investors face when thinking of investing in the precious metal.
Investing ETF Gold Funds - 'SPDR Gold Shares'
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