George Soros builds Teva stake

The holding appears in documents filed with the SEC by Soros' equity funds for the third quarter.

Billionaire George Soros is expanding his investments in Israel, mainly in Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA), reveal documents filed with the US Securities and Exchange Commission (SEC) by Soros' equity funds for the third quarter.

During the third quarter, Soros increased his holdings in Monsanto Company (NYSE: MON), biotech firm Dendreon Corporation (Nasdaq: DNDN), InterOil Corporation (NYSE: IOC), Plains Exploration and Production (NYSE: PXP), and Weatherford International Ltd. (NYSE; LSE: WFT).

Soros also sold about 10% of his huge gamble on gold, through SPDR Gold Trust (NYSE: GLD), although it was still his largest investment at the end of September. He also sold a small part of his holding in Kinross Gold Corporation (NYSE: KGC) and opened a new position in iShares Comex Gold Trust (NYSE: IAU).

Teva's share price fell 1.2% on Nasdaq yesterday to $50.34, giving a market cap of $47.12 billion, and fell 0.2% in early trading on the TASE today to NIS 186.

Published by Globes [online], Israel business news - - on November 17, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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