Renowned investment guru Louis Moore Bacon recently disclosed his firm's portfolio for the second quarter of 2023, which ended on June 30, 2023. Bacon is known for his macroeconomic approach to investing, focusing on global interest rates, currencies, and stock markets to make investment decisions. His firm's portfolio for Q2 2023 comprised 493 stocks with a total value of $5.60 billion.
Top Holdings
The top holdings in Bacon's portfolio were NVIDIA Corp (NVDA, Financial) with 6.76%, Microsoft Corp (MSFT, Financial) with 3.92%, and Amazon.com Inc (AMZN, Financial) with 3.88%.
Significant Transactions
The following were the guru’s top three trades of the quarter:
Alibaba Group Holding Ltd (NYSE:BABA)
Bacon's firm sold out of their 2,182,562-share investment in Alibaba Group Holding Ltd (NYSE:BABA). The shares traded for an average price of $87.76 during the quarter. As of August 14, 2023, BABA's price was $93.78 with a market cap of $238.84 billion. The stock has returned -1.14% over the past year. GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 9 out of 10. In terms of valuation, BABA has a price-earnings ratio of 20.30, a price-book ratio of 1.69, a price-earnings-to-growth (PEG) ratio of 18.45, a EV-to-Ebitda ratio of 9.36 and a price-sales ratio of 1.90.
NVIDIA Corp (NAS:NVDA)
The firm reduced their investment in NVIDIA Corp (NAS:NVDA) by 526,995 shares, impacting the equity portfolio by 3.19%. The stock traded for an average price of $331.15 during the quarter. As of August 14, 2023, NVDA's price was $434.69 with a market cap of $1,073.68 billion. The stock has returned 131.99% over the past year. GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 10 out of 10. In terms of valuation, NVDA has a price-earnings ratio of 226.40, a price-book ratio of 43.82, a price-earnings-to-growth (PEG) ratio of 11.67, a EV-to-Ebitda ratio of 156.27 and a price-sales ratio of 41.90.
Amazon.com Inc (NAS:AMZN)
During the quarter, the firm bought 1,365,872 shares of Amazon.com Inc (NAS:AMZN), bringing the total holding to 1,666,531 shares. This trade had a 3.18% impact on the equity portfolio. The stock traded for an average price of $114.02 during the quarter. As of August 14, 2023, AMZN's price was $139.7183 with a market cap of $1,441.58 billion. The stock has returned -2.65% over the past year. GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10. In terms of valuation, AMZN has a price-earnings ratio of 110.01, a price-book ratio of 8.55, a price-earnings-to-growth (PEG) ratio of 4.74, a EV-to-Ebitda ratio of 23.97 and a price-sales ratio of 2.71.
This portfolio update provides valuable insights into the investment strategies of Louis Moore Bacon (Trades, Portfolio) and his firm. It offers a glimpse into the guru's top holdings and significant transactions, which could serve as a useful reference for value investors.
