Market Overview

A Look At Bruce Kovner's Portfolio (QCOM, VVUS, FCX, CCL)

A Look At Bruce Kovner's Portfolio QCOM, VVUS, FCX, CCL

Caxton Associates is a $7 billion hedge fund started by Bruce Kovner in 1983. Kovner follows a global macro investment strategy. As of 12/31/2009, Caxton's largest long positions were Qualcomm (NASDAQ: QCOM), Vivus, Inc. (NASDAQ: VVUS), Freeport-McMoran (NYSE: FCX), and Carnival Corporation (NYSE: CCL).

As of Caxton Associates last 13-F filing, the fund had a position in shares of Qualcomm (QCOM) valued at $32,615,797. This stock has had a rough start to 2010, losing 16.47% year-to-date.

The fund's second largest holding was Vivus (VVUS). Caxton had a stake valued at more than $31 million in this stock as of the beginning of the year. In 2010, VVUS shares have gained 12.17% and currently trade at $10.32. According to Yahoo Finance, Caxton's position amounts to 4.26% of the company's outstanding shares.

Freeport-McMoran (FCX) was the fund's third largest holding, valued at $31,538,796. The stock has fallen 8.16% to $73.74 in 2010.

Another name that Kovner appears to be betting on heavily is Carnival Corporation (CCL). At least part of this holding was in call options as of 12/31/2009. Carnival shares have gained nearly 34% year-to-date and are currently trading at $42.42.

Posted-In: Bruce Kovner Caxton AssociatesLong Ideas Hedge Funds Trading Ideas General


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