Louis Moore Bacon (Trades, Portfolio) is an American hedge fund manager and trader who uses a global macro strategy to invest in the markets. Bacon has been in the top 20 of Top 100 money earners since the 1990s. He is considered one of the top 100 traders of the 20th century, and the following are his most heavily weighted trades during the fourth quarter of 2015.
He reduced his stake in JPMorgan Chase & Co. (JPM) by 48.88%, and the deal had an impact of -2.15% on the portfolio.
It is a financial services firm and banking institution in the U.S. with operations around the world. In the fourth quarter the company delivered strong capital returns in which $2.6 billion of net capital returned to shareholders, including $1 billion of net repurchases. Average Core loans were up 16% year over year and 5% quarter over quarter.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with easy ROE of 9.32% and ROA of 0.99% that are outperforming 55% of the companies in the Global Banks - Global industry. Financial strength has a rating of 4 out of 10 with a cash-to-debt of 1.11 that is below the industry median of 2.70.
Barrow, Hanley, Mewhinney & Strauss is the largest shareholder among the gurus with 0.85% of outstanding shares followed by Dodge & Cox with 0.72%, Chris Davis (Trades, Portfolio) with 0.47%, PRIMECAP Management (Trades, Portfolio) with 0.39%, Ken Fisher (Trades, Portfolio) with 0.38% and T Rowe Price Equity Income Fund with 0.32%.
The guru reduced his stake in MGM Resorts International (MGM) by 89.53% and with an impact of -0.7% on the portfolio.
The company acts as a holding company, and its operations are conducted through its wholly owned subsidiaries. The company is a hospitality company, operating a portfolio of destination resort brands. During the last quarter net revenue at the company's wholly owned domestic resorts increased 2% and EBITDA margin was 27.3%, a 330 basis point increase compared to the prior-year quarter.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with negative ROE of -8.88% and ROA of -1.69% that are underperforming 85% of the companies in the Global Resorts & Casinos industry. Financial strength has a rating of 5 out of 10 with cash-to-debt of 0.13 that is far below the industry median of 0.81.
The largest shareholder among the gurus is Leon Cooperman (Trades, Portfolio) with 0.69% of outstanding shares followed by Ron Baron (Trades, Portfolio) with 0.62%, Murray Stahl (Trades, Portfolio) with 0.11%, Steven Cohen (Trades, Portfolio) with 0.07% and Pioneer Investments (Trades, Portfolio) with 0.03%.
The investor exited his stake in ConocoPhillips (COP) with an impact of -0.64% on the portfolio.
The company is engaged in exploring for, developing and producing crude oil and natural gas. Its portfolio mainly includes legacy assets in North America, Europe, Asia and Australia; growing North American shale and oil sands businesses; several major international developments and a global exploration program.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10 with negative ROE of -9.50% and ROA of -4.08% that are outperforming 62% of the companies in the Global Oil & Gas E&P industry. Financial strength has a rating of 6 out of 10 with a cash-to-debt of 0.10 that is below the industry median of 0.41.
Barrow, Hanley, Mewhinney & Strauss is the largest shareholder among the gurus with 2.3% of outstanding shares followed by First Eagle Investment (Trades, Portfolio) with 0.61%, Donald Yacktman (Trades, Portfolio) with 0.38%, Tweedy Browne (Trades, Portfolio) with 0.22%, Yacktman Fund (Trades, Portfolio) with 0.19%, Jeremy Grantham (Trades, Portfolio) with 0.11% and Yacktman Focused Fund (Trades, Portfolio) with 0.11%.
The guru exited his position in Altria Group Inc. (MO) with an impact of -0.61% on the portfolio.
The company, through its subsidiaries, is engaged in the manufacture and sale of cigarettes and certain smokeless tobacco products in the U.S. During the fourth quarter diluted earnings per share (EPS) increased 1.6% and adjusted diluted EPS, which excludes the impact of special items, increased 1.5%.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with strong ROE of 185.59% and ROA of 15.87% that are outperforming 61% of the companies in the Global Tobacco industry. Financial strength has a rating of 8 out of 10 with cash-to-debt of 0.18 that is below the industry median of 0.26.
The largest shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with 1.13% of outstanding shares followed by Tom Russo (Trades, Portfolio) with 0.31%, Pioneer Investments (Trades, Portfolio) with 0.05%, David Winters (Trades, Portfolio) with 0.05%, Wintergreen Fund (Trades, Portfolio) with 0.04% and Joel Greenblatt (Trades, Portfolio) with 0.02%.
The investor closed his stake in CVS Health Corp. (CVS) with an impact of -0.56% on the portfolio.
The company is an integrated pharmacy health care provider in the U.S. It has three segments: Pharmacy Services, Retail Pharmacy and Corporate. During the last quarter net revenues increased 10.3% and operating profit increased 3.8% compared to the same quarter of a year before.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with strong ROE of 14.04% and ROA of 6.41% that are outperforming 69% of the companies in the Global Health Care Plans industry. Financial strength has a rating of 8 out of 10 with a cash-to-debt of 0.09 that is far below the industry median of 1.59.
Pioneer Investments (Trades, Portfolio) is the largest shareholder among the gurus with 0.46% of outstanding shares followed by PRIMECAP Management (Trades, Portfolio) with 0.32%, Vanguard Health Care Fund (Trades, Portfolio) with 0.28%, Grantham with 0.21%, Mario Gabelli (Trades, Portfolio) with 0.11% and Charles de Vaulx (Trades, Portfolio) with 0.08%.
The guru exited his position in Pfizer Inc. (PFE) with an impact of -0.52% on the portfolio.
The company applies science and its resources to bring therapies to people that extend and improve their lives through the discovery, development and manufacture of health care products. Fourth-quarter revenue grew 7% from the same quarter of a year before, adjusted income grew 4%, and net income increased by 50%.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with strong ROE of 10.32% and ROA of 4.20% that are outperforming 52% of the companies in the Global Drug Manufacturers - Major industry. Financial strength has a rating of 7 out of 10 with cash-to-debt of 0.60 that is below the industry median of 3.10.
The largest shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with 0.87% of outstanding shares followed by Fisher with 0.52%, T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.23%, Lee Ainslie (Trades, Portfolio) with 0.18%, Diamond Hill Capital (Trades, Portfolio) with 0.17% and Jana Partners (Trades, Portfolio) with 0.15%.
The investor exited his stake in Juniper Networks Inc. (JNPR) with an impact of -0.51% on the portfolio.
The company designs, develops and sells products and services for high-performance networks, which combine scale and performance with agility and efficiency.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with strong ROE of 13.91% and ROA of 7.48% that are outperforming 79% of the companies in the Global Communication Equipment industry. Financial strength has a rating of 5 out of 10 with a cash-to-debt of 1.00 that is below the industry median of 2.42.
Manning & Napier Advisors Inc. is the largest shareholder among the gurus with 2.12% of outstanding shares followed by Diamond Hill Capital (Trades, Portfolio) with 1.51%, Dodge & Cox with 1.41%, Jim Simons (Trades, Portfolio) with 1.2%, Greenblatt with 0.49% and John Hussman (Trades, Portfolio) with 0.08%.
The guru exited his position in Starbucks Corp. (SBUX) with an impact of -0.49% on the portfolio.
The company is the roaster, marketer and retailer of specialty coffee, operating in 68 countries. It purchases and roasts high-quality coffees that it sells, along with handcrafted coffee, tea and other beverages and a variety of fresh food items, through company-operated stores.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with strong ROE of 41.81% and ROA of 19.60% that are outperforming 93% of the companies in the Global Restaurants industry. Financial strength has a rating of 8 out of 10, with cash-to-debt of 1.01 that is far below the industry median of 0.61.
The largest shareholder among the gurus is Pioneer Investments (Trades, Portfolio) with 0.38% of outstanding shares followed by John Burbank (Trades, Portfolio) with 0.12%, Simons with 0.09%, Cohen with 0.03%, Hussman with 0.01%, Ray Dalio (Trades, Portfolio) with 0.01% and Caxton Associates (Trades, Portfolio) with 0.01%.
