Yahoo Finance Caxton Associates Amplifies Stake in Citigroup Inc by Over 7000%
Insightful Analysis of Caxton Associates (Trades, Portfolio)' Q1 2024 13F Filing
Caxton Associates (Trades, Portfolio), a prominent global macro hedge fund established by Bruce Kovner in 1983, recently disclosed its 13F filing for the first quarter of 2024. Known for its strategic bets on macroeconomic trends across various asset classes, the fund is characterized by its dynamic trading approach aimed at capitalizing on short-term market movements. This quarter, Caxton Associates (Trades, Portfolio) has made significant adjustments to its portfolio, including a massive increase in its stake in Citigroup Inc.
Summary of New Buys
Caxton Associates (Trades, Portfolio) expanded its portfolio by adding 155 new stocks. Key new acquisitions include:
Synopsys Inc (NASDAQ:SNPS), purchasing 25,948 shares valued at approximately $14.83 million, making up 0.83% of the portfolio.
Western Digital Corp (NASDAQ:WDC), with 185,326 shares worth around $12.65 million, representing 0.71% of the portfolio.
Netflix Inc (NASDAQ:NFLX), acquiring 19,668 shares, which constitute 0.67% of the portfolio with a total investment of about $11.94 million.
Key Position Increases
Significant enhancements were made to existing positions, notably:
Citigroup Inc (NYSE:C), with an additional 1,988,494 shares, bringing the total to 2,015,390 shares. This adjustment marks a staggering 7393.27% increase in share count and impacts the portfolio by 7.04%, with a total value of approximately $127.45 million.
Amazon.com Inc (NASDAQ:AMZN), increasing by 367,462 shares to a total of 548,853 shares, a 202.58% rise, valued at around $99 million.
Summary of Sold Out Positions
The fund exited 162 positions this quarter, including:
Tesla Inc (NASDAQ:TSLA), where all 330,000 shares were sold, impacting the portfolio by -4.21%.
Analog Devices Inc (NASDAQ:ADI), liquidating all 360,000 shares, which resulted in a -3.67% portfolio impact.
Key Position Reductions
Reductions were also prominent in the portfolio adjustments:
Microsoft Corp (NASDAQ:MSFT) saw a reduction of 196,720 shares, a -50.98% decrease, impacting the portfolio by -3.8%. The stock traded at an average price of $404.82 during the quarter.
Adobe Inc (NASDAQ:ADBE) was reduced by 116,543 shares, a -93.02% decrease, affecting the portfolio by -3.57%. The stock's average trading price was $573.19 during the quarter.
Portfolio Overview
As of the first quarter of 2024, Caxton Associates (Trades, Portfolio)' portfolio included 449 stocks. The top holdings were:
7.14% in Citigroup Inc (NYSE:C)
5.55% in Amazon.com Inc (NASDAQ:AMZN)
4.63% in Autoliv Inc (NYSE:ALV)
4.46% in Microsoft Corp (NASDAQ:MSFT)
3.53% in Broadcom Inc (NASDAQ:AVGO)
The portfolio is well-diversified across all 11 industries, including Technology, Consumer Cyclical, and Financial Services.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
