Insight into the Investment Moves of a Renowned Hedge Fund Manager in Q2 2024
Louis Moore Bacon (Trades, Portfolio), an eminent American hedge fund manager, has recently disclosed his investment activities for the second quarter of 2024 through a 13F filing. Bacon, born in 1956, is celebrated as one of the top 100 traders of the 20th century. He founded Moore Capital Management in 1989, adopting a global macro strategy to navigate the financial markets. After transitioning the firm in late 2019 to focus on his personal investments, Bacon continues to manage a substantial multi-asset alternatives platform.
Summary of New Buys
Louis Moore Bacon (Trades, Portfolio) expanded his portfolio by adding 127 new stocks in this quarter. Notable new positions include:
- Apple Inc (AAPL, Financial), purchasing 431,923 shares, which now comprise 1.62% of his portfolio, valued at $90.97 million.
- BlackRock Inc (BLK, Financial), with 91,011 shares, making up about 1.28% of the portfolio, valued at $71.65 million.
- Iris Energy Ltd (IREN, Financial), acquiring 5,464,189 shares, representing 1.1% of the portfolio, valued at $61.69 million.
Key Position Increases
Significant enhancements were also made to existing holdings, including:
- GE Vernova Inc (GEV, Financial), where Bacon increased his stake by 534,125 shares, bringing the total to 555,013 shares. This adjustment marks a 2,557.09% increase in share count, impacting 1.64% of the current portfolio, valued at $95.19 million.
- Adobe Inc (ADBE, Financial), with an additional 150,409 shares, bringing the total to 165,980 shares. This represents a 965.96% increase in share count, valued at $92.21 million.
Summary of Sold Out Positions
In the second quarter of 2024, Louis Moore Bacon (Trades, Portfolio) exited 105 positions, including:
- Freeport-McMoRan Inc (FCX, Financial), selling all 2,372,024 shares, impacting the portfolio by -1.83%.
- VanEck Vectors Semiconductor ETF (SMH, Financial), liquidating all 472,200 shares, with a -1.74% impact on the portfolio.
Key Position Reductions
Reductions in existing holdings were also notable, particularly:
- Amazon.com Inc (AMZN, Financial), reducing his stake by 1,218,416 shares, a -59.93% decrease, impacting the portfolio by -3.61%. The stock traded at an average price of $183.7 during the quarter and has seen a -9.07% return over the past three months and 11.95% year-to-date.
- Meta Platforms Inc (META, Financial), cutting down by 385,976 shares, a -96.66% reduction, impacting the portfolio by -3.07%. The stock traded at an average price of $486.09 during the quarter and has returned 11.75% over the past three months and 49.12% year-to-date.
Portfolio Overview
As of the second quarter of 2024, Louis Moore Bacon (Trades, Portfolio)'s portfolio encompasses 434 stocks. The top holdings include 2.81% in Amazon.com Inc (AMZN), 2.7% in Ally Financial Inc (ALLY, Financial), and 1.7% in GE Vernova Inc (GEV, Financial). The investments span across all 11 industries, with significant concentrations in Financial Services, Industrials, and Technology.
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.
