Moore Capital Reports Holdings of $2.4 Billion

   By Christian Berthelsen 
 

Moore Capital Management, the hedge fund run by financier Louis Bacon, reported holdings valued at $2.4 billion in a regulatory filing Wednesday, 32% more than the value of positions it reported in the prior quarter.

The New York-based fund's largest holding was in shares of the SPDR S&P500 ETF (SPY), with 1.8 million shares valued at $266 million. The largest single stocks the fund reported holding were Citigroup Inc. (C), with 5.3 million shares valued at $174 million, and J.P. Morgan Chase & Co. (JPM), with 3.8 million shares valued at $154 million.

In its prior quarter filing, Moore reported a much smaller position in Citigroup of 575,000 shares, and it reported no position in J.P. Morgan.

Moore cut its position in Johnson & Johnson (JNJ), one of its largest individual holdings in the second quarter, to 132,600 shares valued at $9.1 million in the most recent quarter, from 302,600 shares valued at 20.4 million in the prior quarter.

The firm also appeared to completely elminate its position in the Las Vegas Sands Corp. (LVS), the casino company run by billionaire conservative activist Sheldon Adelson. Moore reported options and shares of Sands valued at $28.8 million in the second quarter, but no Sands holdings in its filing Wednesday. The Wall Street Journal has reported the Sands is the target of a U.S. Justice Department investigation into whether the company violated anti-money-laundering laws.

The fund reported 241 total positions in its third-quarter filing, down from 277 in the second quarter. The reported holdings do not represent the total value of assets under management at the firm. Moore Capital manages $15 billion, and recently returned $2 billion to investors after previously disappointing returns.

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