Insight into Caxton Associates (Trades, Portfolio)' Latest Investment Moves and Top Holdings
Caxton Associates (Trades, Portfolio), the renowned global macro hedge fund established by Bruce Kovner, has disclosed its 13F filings for the fourth quarter of 2023. Known for its strategy of capitalizing on macroeconomic trends across various asset classes, Caxton Associates (Trades, Portfolio) is a firm that adapts to market dynamics, often engaging in short-term trading to optimize returns. The fund's latest moves reflect a strategic adjustment to its portfolio, with significant transactions in both acquisitions and divestitures of stock positions.
Summary of New Buys
Caxton Associates (Trades, Portfolio) expanded its portfolio with 178 new stock positions. Noteworthy additions include:
- Analog Devices Inc (ADI, Financial), purchasing 360,000 shares, which now comprise 3.67% of the portfolio, valued at $71.48 million.
- Intel Corp (INTC, Financial), acquiring 900,000 shares, making up 2.32% of the portfolio, with a total value of $45.23 million.
- Qorvo Inc (QRVO, Financial), adding 200,000 shares, accounting for 1.16% of the portfolio, valued at $22.52 million.
Key Position Increases
Caxton Associates (Trades, Portfolio) has also ramped up its investment in several companies, with significant increases in:
- Microsoft Corp (MSFT, Financial), where an additional 252,229 shares were purchased, boosting the total to 385,864 shares. This represents a substantial 188.74% increase in share count and a 4.87% impact on the current portfolio, valued at $145.10 million.
- Tesla Inc (TSLA, Financial), with an additional 328,932 shares, bringing the total to 330,000 shares. This adjustment marks a staggering 30,798.88% increase in share count, with a total value of $81.99 million.
Summary of Sold Out Positions
In the fourth quarter of 2023, Caxton Associates (Trades, Portfolio) exited 113 positions, including:
- Netflix Inc (NFLX, Financial), selling all 42,537 shares, which had a -2.21% impact on the portfolio.
- INVESCO QQQ Trust (QQQ, Financial), liquidating all 42,500 shares, resulting in a -2.1% impact on the portfolio.
Key Position Reductions
The fund also reduced its stakes in 71 stocks. The most significant reductions were:
- DocuSign Inc (DOCU, Financial), with a reduction of 190,341 shares, leading to a -95.17% decrease in shares and a -1.1% impact on the portfolio. The stock traded at an average price of $45.87 during the quarter and has returned 19.56% over the past three months and -14.06% year-to-date.
- Broadcom Inc (AVGO, Financial), with a reduction of 7,346 shares, resulting in an -89.54% decrease in shares and a -0.84% impact on the portfolio. The stock traded at an average price of $946.88 during the quarter and has returned 30.17% over the past three months and 12.94% year-to-date.
Portfolio Overview
As of the fourth quarter of 2023, Caxton Associates (Trades, Portfolio)'s portfolio encompasses 452 stocks. The top holdings include 7.45% in Microsoft Corp (MSFT, Financial), 4.21% in Tesla Inc (TSLA, Financial), 3.84% in Adobe Inc (ADBE, Financial), 3.67% in Analog Devices Inc (ADI, Financial), and 3.24% in General Motors Co (GM, Financial). The portfolio is well-diversified across all 11 industries, with a focus on Technology, Consumer Cyclical, Financial Services, Communication Services, Healthcare, Energy, Basic Materials, Industrials, Consumer Defensive, Real Estate, and Utilities.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
