The stocks bought by Louis Moore Bacon over the past 12 months averaged a return of 21.25%. As of the third quarter, the portfolio of Moore Capital Management LP lists 348 stocks, 171 of them new, a total value at $4.70 billion, with a quarter-over-quarter turnover of 28%. The portfolio is weighted with top three sectors: ETF, options, preferred at 37.5%, financial services at 17.9%, and consumer cyclical at 13%.
In the third quarter, Bacon reduced or sold out around 120 companies. After eight quarters of gains, Bacon sold out Yum! Brands Inc., an international go-getter in the fast food restaurant business with brands KFC, Pizza Hut and Taco Bell. Based in Louisville, Kentucky, Yum! Brands has around 40,000 restaurants in more than 130 countries. With revenue of more than $13 billion last year, Yum! Brand Inc. is a Fortune 500 company, ranked #201. Continue Reading »