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Soros Hedge Fund Takes Stake in Ford Motor

Published: Wednesday, 18 Nov 2009 | 4:21 AM ET
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By: AP

Soros Fund Management, 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.

The Soros fund, based in New York, bought 7.3 million shares of Ford Motor [F  Loading...      ()   ] 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 [T  Loading...      ()   ] 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 [HD  Loading...      ()   ] to 942,000 shares worth $25.1 million from 190,500 shares worth $4.5 million, and it increased its stake in Lowes [LOW  Loading...      ()   ] 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 [WMT  Loading...      ()   ] to 1.1 million shares worth $54.8 million from 89,710 shares worth $4.3 million.

© 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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