Hedge fund quarterly reports were publicly released last week and we have some insight into Soros's recent trades.

Soros made a HUGE very remarkable move the last few months. He pretty much cut his long positions by almost half (-42%) !!!

Its almost inconceivable for him to sit on cash. He trades bubbles with very large concentrated positions so I bet he's setting up either a huge currency bet (probably shorting the japanese yen, euro, or dollar) or he set up a huge short position on the market.

We don't need to panic, he hasn't sold LGDI or most other junior miners. In fact its actually good news. What is interesting is that he kept the value of his gold & precious metal holdings the same at about $1B. So while the value of his hedge fund holdings dropped by 42%, a constant value of precious metal holdings means going from 10% to almost 20% of his entire portfolio. whoa!

He still looks pretty deeply invested in agriculture and energy. So he seems to be going the way of his old partner Jim Roger's recent motto...short equities, long commodities.