Soros Fund Management LLC sharply cut its shares in gold in the second quarter, when bullion prices rose to two-year highs, regulatory filings with the U.S. Securities and Exchange Commission showed on Monday.

The fund, which returned to the world's biggest gold exchange-traded fund SPDR Gold Trust (GLD.P) in the first quarter of 2016 after a three-year absence, sharply cut his stake in the second quarter.

Billionaire financier George Soros' fund reduced its holdings in SPDR Gold Trust to 240,000 shares worth $30.4 million, from 1.05 million shares worth $123.5 million in the first quarter.

Soros also drastically cut its stake in Barrick Gold Corp (ABX.TO) to 1.07 million shares worth $22.9 million, from 19.4 million shares in the first three months of 2016, the filing showed.