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Caxton Associates Cuts WSO, SKS, MS, URI

November 26, 2013 | About:
Sally Jones

Sally Jones

49 followers
Caxton Associates’ recently updated portfolio lists 166 stocks, 99 of them new, with a total value of $1.90 billion and a quarter-over-quarter turnover of 32%. The portfolio is currently weighted with top three sectors: ETF, options, preferred at 34.7%, consumer cyclical at 17.6% and financial services at 14.2%. The stocks bought by Caxton averaged a return of 21.63% over 12 months.

In the second quarter, Caxton made major sells of auto makers and insurance. In the third quarter of 2013, the hedge fund made its largest cuts in Watsco Inc. (WSO) and Saks Incorporated (SKS), both showing high gains in the trading history. Caxton also cut United Rentals Inc. (URI), showing another trading history of high gains.

Here are the firm’s four high-impact decreases, as of Sept. 30, 2013:

United Rentals Inc. (URI): Sold Out

Impacts Portfolio: -1.9%

Up 73% over 12 months, United Rentals Inc., an equipment rental company, has a market cap of $6.44 billion; its shares were traded at around $69.04 with a P/E ratio of 25.50. The company does not pay a dividend.

Guru Action: As of Sept. 30, 2013, Caxton Associates sold out URI, selling 756,819 shares at an average price of $55.48 per share, for a gain of 24.7%, the lowest point in the holding history.

The firm has had sixteen quarters of very high gains, starting back in the second quarter of 2008. Caxton made a new buy of 289,360 shares at an average price of $19.91, gaining 247.4%

Check out this remarkable trading history topping out at gains of 734.4%.

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Check out more guru action and recent insider selling.

Track historical pricing, revenue and net income:

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Watsco Inc. (WSO): Sold Out

Impacts Portfolio: -4.1%

Up 36% over 12 months, Watsco Inc., an independent distributor of air conditioning, heating, and refrigeration equipment and related parts and supplies (HVAC/R), has a market cap of $3.35 billion; its shares were traded at around $96.43 with a P/E ratio of 26.50. The dividend is 1.20%.

Guru Action: As of Sept. 30, 2013, Caxton Associates sold out its holding for the third time in the trading history. Caxton sold 80,132 shares at an average price of $91.53, for a gain of 5.5%, the lowest point in the history.

In eight out of ten gaining quarters, the firm made more than a 43% gain.

Here are more gurus trading WSO. There are no recent insider trades to report.

Track historical pricing, revenue and net income:

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Saks Incorporated (SKS): Reduced

Impacts Portfolio: -3.17%

Current Shares: 1,950,207

Up 53% over 12 months, Saks Incorporated, the luxury retailer, has a market cap of $2.4 billion; its shares were traded at around $15.99 with a P/E ratio of 70.10. The company does not pay a dividend.

Guru Action: As of Sept. 30, 2013, Caxton Associates reduced its position by 70.45%, selling 4,650,068 shares at an average price of $15.57, for a gain of 2.7%.

Overall, the firm has averaged a gain of 45% on 7,186,403 shares bought at an average price of $11.04 per share. On shares sold, the firm averaged a gain of 5% on 5,236,196 shares sold at an average price of $15.27 per share.

Check out more gurus trading SKS, and lots of insiders selling.

Track historical pricing, revenue and net income:

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Morgan Stanley (MS): Reduced

Impacts Portfolio: -2.09%

Current Shares: 3,526,204

Up 89% over 12 months, Morgan Stanley, the financial services firm, has a market cap of $61.25 billion; its shares were traded at around $31.39 with a P/E ratio of 19.20. The dividend yield is 0.60%.

Guru Action: As of Sept. 30, 2013, Caxton Associates reduced its position by 32.64%, selling 1,708,800 shares at an average price of $26.83, for a gain of 17.3%.

The firm has averaged a gain of 44% on 7,377,618 shares bought at an average price of $21.87 per share. On shares sold, the firm averaged a gain of 25% on 3,851,414 shares sold at an average price of $25.10 per share.

Here are more gurus trading and insiders selling MS.

Track historical pricing, revenue and net income:

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Founded by Guru Bruce Kovner in 1983, Caxton Associates LP is a New York-based investment firm and a leading hedge fund. Andrew E. Law is the chairman and CEO of Caxton Associates. Caxton’s founder Bruce Kovner is now retired. According to Forbes, Kovner’s net worth is an estimated $4.7 billion, as of September 2013.

Here is the complete portfolio of Caxton Associates.



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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 5.0/5 (1 vote)

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