Moore Capital Management, Louis Bacon’s investment firm, increased its stake in US consumer and financial industries during the fourth quarter of 2014. Moore also reduced its bet on index funds that track Chinese shares.
Bacon’s firm, which has $14.8 billion under management, invests mostly macro-economically. During the last quarter of 2014 Moore Capital bought shares of Financial Select Sector SPDR Fund to bring its stake to $98.9 million by December 31. Moore’s largest new investment was in an exchange-traded fund that tracks retail companies, to the tune of $105.1 million. Now Moore’s largest holding is in the SPDR S&P Retail ETF.
In addition, equity investments at Moore Capital decreased by 24 percent, down to $2.25 billion. The firm sold off 3.62 million shares of iShares China Large-Cap ETF, but retained 1.2 million shares, valued at about $50 million. Bacon’s firm also lowered its bets on Alibaba Group Holding Ltd, selling off 1.38 million shares.