By Christian Berthelsen
Moore Capital Management, the hedge fund run by financier Louis
Bacon, reported holdings valued at $2.4 billion in a regulatory
filing Wednesday, 32% more than the value of positions it reported
in the prior quarter.
The New York-based fund's largest holding was in shares of the
SPDR S&P500 ETF (SPY), with 1.8 million shares valued at $266
million. The largest single stocks the fund reported holding were
Citigroup Inc. (C), with 5.3 million shares valued at $174 million,
and J.P. Morgan Chase & Co. (JPM), with 3.8 million shares
valued at $154 million.
In its prior quarter filing, Moore reported a much smaller
position in Citigroup of 575,000 shares, and it reported no
position in J.P. Morgan.
Moore cut its position in Johnson & Johnson (JNJ), one of
its largest individual holdings in the second quarter, to 132,600
shares valued at $9.1 million in the most recent quarter, from
302,600 shares valued at 20.4 million in the prior quarter.
The firm also appeared to completely elminate its position in
the Las Vegas Sands Corp. (LVS), the casino company run by
billionaire conservative activist Sheldon Adelson. Moore reported
options and shares of Sands valued at $28.8 million in the second
quarter, but no Sands holdings in its filing Wednesday. The Wall
Street Journal has reported the Sands is the target of a U.S.
Justice Department investigation into whether the company violated
anti-money-laundering laws.
The fund reported 241 total positions in its third-quarter
filing, down from 277 in the second quarter. The reported holdings
do not represent the total value of assets under management at the
firm. Moore Capital manages $15 billion, and recently returned $2
billion to investors after previously disappointing returns.
Write to Christian Berthelsen at
christian.berthelsen@dowjones.com
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