Bruce Stanley Kovner is the founder and chairman of Caxton Associates (Trades, Portfolio), a New York-based trading and investment firm. Caxton Associates (Trades, Portfolio)' primary business is to manage client and proprietary capital through global macro hedge fund strategies
During the third quarter 24 stocks got new positions in the portfolio, and here are the most weighted new buys.
The firm acquired a 355,663-share stake in Macy's Inc. (M) at an average price of $62.72 per share. The company operates 13 Bloomingdale's Outlet stores. Bloomingdale's in Dubai, United Arab Emirates, is operated under a license agreement with Al Tayer Insignia, a company of Al Tayer Group, LLC. The deal had a 1.12% impact on his portfolio, and the price dropped by 45%. Currently it is trading at $34.50.
Macy's has a market cap of $11.28 billion and an enterprise value of $18.77 billion. It has a P/E of 9.40, a forward P/E of 8.87, a P/B of 2.80 and a P/S of 0.45. GuruFocus has given the stock a financial strength rating of 7/10 and a profitability and growth rating of 7/10.
Jim Simons (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio) and Scott Black (Trades, Portfolio) are other investors who acquired a new position in the company.
The firm also bought 338,800 shares in Wells Fargo & Co. (WFC) at an average price of $54.99 per share. It provides retail, commercial and corporate banking services through banking stores and offices, the Internet and other distribution channels to individuals, businesses and institutions in all 50 states, the District of Columbia and in other countries. The deal had a 1.07% impact on the portfolio, and the price went up 1%. Currently it is trading at $55.47 per share.
Wells Fargo has a market cap of $285.27 billion and an enterprise value of $564.64 billion. It has a P/E of 13.50, a P/B of 1.66 and a P/S of 3.42. GuruFocus has given the stock a financial strength rating of 6/10 and a profitability and growth rating of 5/10.
The stock got a new position in the portfolio of Ray Dalio (Trades, Portfolio).
Caxton Associates (Trades, Portfolio) acquired a 181,762-share stake in Facebook Inc. (FB) at an average price of $91.76 per share. It is a social networking website that builds products that create utility for users, developers and advertisers. The deal had a 1.01% impact on the portfolio, and the price went up 16%. Currently it is trading at $106.22.
Facebook has a market cap of $302 billion and an enterprise value of $286.28 billion. It has a P/E of 108.12, a forward P/E of 38.46, a P/B of 7.28 and a P/S of 19.02. GuruFocus has given the stock a financial strength rating of 8/10 and a profitability and growth rating of 7/10.
This quarter the stock saw huge increases of 1,023.53% by Ray Dalio (Trades, Portfolio) and 433.84% by John Burbank (Trades, Portfolio).
The firm bought a 460,000-share stake in Take-Two Interactive Software Inc. (TTWO) at an average price of $29.71 per share. It is a developer, publisher and marketer of interactive entertainment for consumers around the globe. The deal had a 0.81% impact on his portfolio, and the price went up 21%. Currently it is trading at $35.85 per share.
Take-Two Interactive Software has a market cap of $3.07 billion and an enterprise value of $2.49 billion. It has a forward P/E of 45.66, a P/B of 5.56 and a P/S of 2.05. GuruFocus has given the stock a financial strength rating of 6/10 and a profitability and growth rating of 5/10.
RS Investment Management (Trades, Portfolio) and Jim Simons (Trades, Portfolio) are others who increased their holdings.
The firm acquired a 350,000-share stake in Kinder Morgan, Inc. (KMI) at an average price of $33.16 per share. The company along with its subsidiaries owns an interest in or operates approximately 80,000 miles of pipelines and 180 terminals. The deal had a 0.6% impact on his portfolio, and the price dropped 54%. Currently it is trading at $15.37.
Kinder Morgan has a market cap of $35.57 billion and an enterprise value of $80.35 billion. It has a P/E of 30.90, a forward P/E of 21.19, a P/B of 1.02 and a P/S of 2.17. GuruFocus has given the stock a financial strength rating of 5/10 and a profitability and growth rating of 6/10.
Steven Cohen (Trades, Portfolio) is another investor who acquired a new position in the portfolio while RS Investment Management (Trades, Portfolio), Jim Simons (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) increased their stakes.
Caxton Associates (Trades, Portfolio) bought a 75,000-share stake in Constellation Brands Inc. (STZ) at an average price of $123.3 per share. The company is an international alcoholic beverage company with many of its products recognized as leaders in their categories and geographic markets. The deal had a 0.58% impact on the portfolio, and the price went up 13%. Currently it is trading at $139.89 per share.
Constellation Brands has a market cap of $28.09 billion and an enterprise value of $35.29 billion. It has a P/E of 29.58, a forward P/E of 28.33, a P/B of 4.66 and a P/S of 4.62. GuruFocus has given the stock a financial strength rating of 7/10 and a profitability and growth rating of 8/10.
Steve Mandel (Trades, Portfolio) is another investor who had Constellation Brands as his new buy in this quarter.
Caxton Associates (Trades, Portfolio) acquired a 622,900-share stake in Strategic Hotels & Resorts Inc. (BEE) at an average price of $13.56 per share. It operates as a self-administered and self-managed real estate investment trust (REIT) managed by its board of directors and executive officers and conducts its operations through the company's direct and indirect subsidiaries including SH Funding. The deal had a 0.53% impact on the portfolio, and the price went up 5%. Currently it is trading at $14.22.
Strategic Hotels & Resorts has a market cap of $4.01 billion and an enterprise value of $5.65 billion. It has a P/E of 98.10, a forward P/E of 37.45, a P/B of 2.41 and a P/S of 2.91. GuruFocus has given the stock a financial strength rating of 6/10 and a profitability and growth rating of 4/10.
This quarter the stock got a new position in Mario Gabelli (Trades, Portfolio)'s portfolio.
The firm bought a 135,000-share stake in Cheesecake Factory Inc. (CAKE) at an average price of $54.94 per share. It provides a distinctive, high-quality dining experience at moderate prices by offering an extensive, new and evolving menu in an upscale casual, high-energy setting with attentive, efficient and friendly service. The deal had a 0.45% impact on his portfolio, and the price dropped by 16%. Currently it is trading at $46.24 per share.
Cheesecake Factory has a market cap of $2.29 billion and an enterprise value of $2.26 billion. It has a P/E of 20.64, a forward P/E of 17.76, a P/B of 3.93 and a P/S of 1.14. GuruFocus has given the stock a financial strength rating of 9/10 and a profitability and growth rating of 8/10.
John Hussman (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio) and Ray Dalio (Trades, Portfolio) are other investors who acquired new positions in the portfolio.
The firm acquired a 155,569-share stake in Microsoft Corp. (MSFT) at an average price of $44.9 per share. The company generates revenue by developing, manufacturing, licensing and supporting software products and services for different types of computing devices. The deal had a 0.42% impact on his portfolio, and the price went up 24%. Currently it is trading at $55.70.
Microsoft has a market cap of $448.36 billion and an enterprise value of $387.57 billion. It has a P/E of 37.57, a forward P/E of 19.53, a P/B of 5.82 and a P/S of 5.06. GuruFocus has given the stock a financial strength rating of 8/10 and a profitability and growth rating of 7/10.
Other investors who got new positions in the company are Jana Partners (Trades, Portfolio) and John Burbank (Trades, Portfolio).
The firm also bought a 180,000-share stake in Twitter Inc. (TWTR) at an average price of $30.05 per share. It provides a compelling and efficient way for people to stay informed about their interests, discover what is happening in their world right now and interact directly with each other. The deal had a 0.3% impact on his portfolio, and the price dropped 22%. Currently it is trading at $23.31 per share.
Twitter has a market cap of $16.64 billion and an enterprise value of $14.66 billion. It has a forward P/E of 52.36 a P/B of 3.88 and a P/S of 7.96. GuruFocus has given the stock a financial strength rating of 6/10 and a profitability and growth rating of 4/10.
PRIMECAP Management (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio) and Pioneer Investments (Trades, Portfolio) are others who increased their holdings in Twitter.
