Caxton Associates (Trades, Portfolio) sold shares of the following stocks during the first quarter of 2020.
SPDR S&P 500
The firm closed its position in SPDR S&P 500 (SPY). The trade had an impact of -18.62% on the portfolio.
Aptiv
The firm trimmed the Aptiv PLC (APTV) stake by 42.39%. The portfolio was impacted by -1.98%.
The auto-parts dealer has a market cap of $18.28 billion and an enterprise value of $23.03 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 60.18% and return on assets of 16.9% are outperforming 97% of companies in the vehicles and parts industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.31 is below the industry median of 0.46.
The largest guru shareholder of the company is Al Gore (Trades, Portfolio) with 2.67% of outstanding shares, followed by Frank Sands (Trades, Portfolio) with 1.95% and Bill Nygren (Trades, Portfolio)’s Oakmark Fund with 0.84%.
Bank Of America
The firm trimmed its holding in Bank of America Corp. (BAC). The portfolio was impacted by -1.50%.
The bank has a market cap of $198.76 billion and an enterprise value of $246.34 billion.
GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of 8.48% and return on assets of 0.98% are outperforming 50% of companies in the banks industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.92 is below the industry median of 1.16.
The largest guru shareholder of the company is Warren Buffett (Trades, Portfolio)’s Berkshire Hathaway with 10.66% of outstanding shares, followed by Dodge & Cox with 1.56% and PRIMECAP Management (Trades, Portfolio) with 0.47%.
Voya Financial
The firm closed its position in Voya Financial Inc. (VOYA), impacting the portfolio by -1.32%.
The investment and insurance company has a market cap of $5.34 billion and an enterprise value of $8.51 billion.
GuruFocus gives the company a profitability and growth rating of 4 out of 10. While the return on equity of -5.84% is underperforming the sector, return on assets of -0.31% is outperforming 57% of companies in the diversified financial services industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.32 is below the industry median.
The largest guru shareholder of the company is Richard Pzena (Trades, Portfolio) with 4.36% of outstanding shares, followed by Steven Cohen (Trades, Portfolio)’s Point72 Asset Management with 0.52% and Pioneer Investments (Trades, Portfolio) with 0.06%.
Taiwan Semiconductor
The investment firm reduced its position in Taiwan Semiconductor Manufacturing Co. Ltd. (TSM). The trade had an impact of -1.21% on the portfolio.
The chip foundry has a market cap of $266.36 billion and an enterprise value of $254.65 billion.
GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 24.52% and return on assets of 17.94% are outperforming 90% of companies in the semiconductors industry. Its financial strength is rated 8 out of 10. The cash-debt ratio of 2.59 is below the industry median of 1.42.
Other notable shareholders include Ken Fisher (Trades, Portfolio) with 0.57% of outstanding shares, First Eagle Investment (Trades, Portfolio) with 0.20% and Sarah Ketterer (Trades, Portfolio)’s Causeway Capital with 0.12%.
Sony
The firm exited its holding in Sony Corp. (SNE).The trade had an impact of -1.10% on the portfolio.
The consumer electronics designer and seller has a market cap of $76.27 billion and an enterprise value of $68.50 billion.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of 14.66% and return on assets of 2.64% are outperforming 51% of other companies in the hardware industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 1.81 is above the industry median of 1.31.
Notable shareholders include PRIMECAP Management (Trades, Portfolio) with 2.88% of outstanding shares, Mario Gabelli (Trades, Portfolio)’s GAMCO Investors with 0.24% and Daniel Loeb (Trades, Portfolio)’s Third Point with 0.06%.
Disclosure: I do not own any stocks mentioned.
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