Hedge fund manager Louis Moore Bacon (Trades, Portfolio) follows a global macro strategy when making his investments and, for the last couple of decades, he has been ranked among the top 20 money earners. In 2009, when the economy was reeling, Moore Global Investments recorded returns exceeding 20%.
Bacon made 166 new buys in the first quarter of 2015. His most significant purchase was Signet Jewelers Ltd (SIG, Financial), a Bermuda-based specialty retail jeweler. Bacon bought 250,000 shares of Signet Jewelers for an average price of $123.89 per share. The transaction had a 0.77% impact on his portfolio.
Signet Jewelers has a market cap of $10.43 billion and an enterprise value of $3.39 billion. It has a P/E of 25.9, a Price/Book of 3.6 and a Price/Sales of 1.7. Alan Fournier (Trades, Portfolio), First Pacific Advisors (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Jim Simons (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Ken Heebner (Trades, Portfolio), Steven Cohen (Trades, Portfolio) and Chuck Royce (Trades, Portfolio) have shares of Signet Jewelers in their portfolios.
Bacon also purchased a stake in Amazon.com Inc (AMZN, Financial), a Seattle-based ecommerce company. Bacon acquired 92,261 shares for an average price of $351.66 per share. The buy had a 0.76% impact on his portfolio.
Amazon.com has a market cap of $205.29 billion and an enterprise value of $199.77 billion. It has a Price/Book of 18.9 and a Price/Sales of 2.2. Chris Davis (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Bill Nygren (Trades, Portfolio), Jim Simons (Trades, Portfolio), Manning & Napier Advisors, Inc, Steven Cohen (Trades, Portfolio), PRIMECAP Management (Trades, Portfolio), Ron Baron (Trades, Portfolio), Caxton Associates (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), John Burbank (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Murray Stahl (Trades, Portfolio), Dodge & Cox, Bill Frels (Trades, Portfolio) and First Eagle Investment (Trades, Portfolio) have shares of Amazon.com in their portfolios.
Bacon bought a 402,700-share stake in Target Corp (TGT, Financial), a Minneapolis, Minnesota-based discount retailer, for an average price of $77.24 per share. The deal had a 0.73% impact on Bacon’s portfolio.
Target has a market cap of $53.85 billion and an enterprise value of $63.9 billion. It has a Price/Book of 3.8 and a Price/Sales of 0.7. James Barrow (Trades, Portfolio), Dodge & Cox, HOTCHKIS & WILEY, Bill Frels (Trades, Portfolio), NWQ Managers (Trades, Portfolio), Richard Snow (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Martin Whitman (Trades, Portfolio), Caxton Associates (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Ray Dalio (Trades, Portfolio), John Buckingham (Trades, Portfolio), Mark Hillman (Trades, Portfolio), Ken Fisher (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) have shares of Target in their portfolios.
Bacon bought 800,000 shares of E*Trade Financial Corp (ETFC, Financial), a New York-based financial services company, for an average price of $25.5 per share. The acquisition had a 0.51% impact on Bacon’s portfolio.
E*Trade Financial has a market cap of $8.93 billion and an enterprise value of $10.23 billion. It has a P/E of 38.1, a Price/Book of 1.7 and a Price/Sales of 5.1. John Griffin (Trades, Portfolio), Leon Cooperman (Trades, Portfolio), PRIMECAP Management (Trades, Portfolio), Jim Simons (Trades, Portfolio), James Barrow (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Julian Robertson (Trades, Portfolio), Chuck Royce (Trades, Portfolio) and Jeremy Grantham (Trades, Portfolio) have shares of E*Trade Financial in their portfolios.
Bacon acquired a stake in Seattle-based fashion retailer Nordstrom Inc (JWN, Financial) in the first quarter. Bacon purchased 275,000 shares for an average price of $79.14 per share. The transaction had a 0.49% impact on Bacon’s portfolio.
Nordstrom has a market cap of $14.46 billion and an enterprise value of $16.83 billion. It has a P/E of 20.8, a Price/Book of 5.6 and a Price/Sales of 1.1. HOTCHKIS & WILEY, John Rogers (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Chuck Royce (Trades, Portfolio), Jim Chanos (Trades, Portfolio), Mark Hillman (Trades, Portfolio), Manning & Napier Advisors, Inc, Murray Stahl (Trades, Portfolio) and Jeff Auxier (Trades, Portfolio) have shares of Nordstrom in their portfolios.
Bacon also invested in a stake in Procter & Gamble Co (PG, Financial), a Cincinnati-based consumer goods company. He bought 250,000 shares for an average price of $85.98 per share. The acquisition had a 0.45% impact on Bacon’s portfolio.
Procter & Gamble has a market cap of $216.14 billion and an enterprise value of $237.16 billion. It has a P/E of 26.0, a Price/Book of 3.5 and a Price/Sales of 2.9. Warren Buffett (Trades, Portfolio), Donald Yacktman (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Yacktman Fund (Trades, Portfolio), Yacktman Focused Fund (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Diamond Hill Capital (Trades, Portfolio), Jim Simons (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Manning & Napier Advisors, Inc, MS Global Franchise Fund (Trades, Portfolio), Bill Frels (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Richard Pzena (Trades, Portfolio), Charles Brandes (Trades, Portfolio), Dodge & Cox, Ruane Cunniff (Trades, Portfolio), Tom Gayner (Trades, Portfolio), Tom Russo (Trades, Portfolio), Signature Select Canadian Fund (Trades, Portfolio), John Hussman (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Jeff Auxier (Trades, Portfolio), Murray Stahl (Trades, Portfolio), Pioneer Investments (Trades, Portfolio) and Richard Snow (Trades, Portfolio) have shares of Procter & Gamble in their portfolios.
Bacon’s purchase of 1,250,000 shares of Levy Acquisition Corp (TACO, Financial) for an average price of $10.47 per share made Bacon’s stake in Levy one of the 20 largest stakes by volume in his portfolio. The purchase had a 0.36% impact on his portfolio.
Levy Acquisition has a market cap of $276.75 million and an enterprise value of $277.53 million. It has a Price/Book of 54.8. John Keeley (Trades, Portfolio) has shares of Levy Acquisition in his portfolio.
Among the remaining stakes that Bacon purchased in the first quarter were St Jude Medical Inc (STJ, Financial), Northrop Grumman Corp (NOC, Financial), Chevron Corp (CVX, Financial), Vertex Pharmaceuticals Inc (VRTX, Financial) and Tiffany & Co (TIF, Financial).
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