Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Nokia Corporation (ADR) (NOK): Here’s What This Top-Earning Billionaire Has Been Buying

Page 1 of 2

Every quarter, many money managers have to disclose what they’ve bought and sold, via “13F” filings. Their latest moves can shine a bright light on smart stock picks.


Today, let’s look at Moore Capital Management, managed by billionaire Louis Moore Bacon. Bacon is known for employing a global macroeconomic focus in his investing, and has been among the top 20 money earners since the 1990s, per Bacon’s fund has turn in some spectacular performances, but also some lackluster ones, and after poor results in 2011, he returned $2 billion to shareholders, citing the fund’s size as an obstacle. Still, Bacon seems to have solid investing chops, with his flagship fund reportedly averaging nearly 19% in annual gains since its inception in 1989 (as of 2012).

The company’s reportable stock portfolio totaled $6.2 billion in value as of March 31, 2013.

Interesting developments
So what does Moore’s latest quarterly 13F filing tell us? Here are a few interesting details:

The biggest new holdings are call options on the iShares Russell 2000 ETF and shares of the SPDR S&P Retail ETF. Other new holdings of interest include Nokia Corporation (ADR) (NYSE:NOK), which has struggled in recent years and sits in penny-stock territory. It has been regaining its footing, providing less developed economies with less expensive mobile phones and also partnering on Windows phones. It’s also coming out with new offerings. Sales in China have been shrinking recently, however, and some worry about developing nations embracing more pricey smartphones. The stock jumped this week on rumors that a Chinese firm may buy the company. It’s worth noting that despite recently sporting net losses and negative free cash flow, Nokia does have plenty of cash, even outstripping debt.

Among holdings in which Moore Capital Management increased its stake was Sequenom, Inc. (NASDAQ:SQNM), which makes molecular and genetic diagnostic tests. The company’s revenue has been growing, but its losses have been widening and it’s free-cash-flow negative. Still, it has plenty of merit and potential. One of its tests can check for Down syndrome in a non-invasive manner, which should be of interest to many older women. Future tests might address conditions such as macular degeneration.

Moore Capital Management reduced its stake in lots of companies, including Amarin Corporation plc (ADR) (NASDAQ:AMRN) and Synovus Financial Corp. (NYSE:SNV). Amarin stock has fallen roughly in half over the past year. The company is a late-stage cardiovascular-focused biotech enterprise, with a promising (and FDA-approved) drug to lower triglycerides, fish-oil-based Vascepa. It needs a big partner for Vascepa, though, and one likely suitor recently bought a competitor instead.

Synovus Financial Corp. (NYSE:SNV), with its stock up about 50% over the past year, has been posting strong return-on-equity (ROE) numbers and working to pay off its TARP obligations. In May, it acquired $54 million in deposits from the failed Sunrise Bank. Some worry about Synovus’ significant residential real estate business and the current low interest rate environment. The stock yields 1.5%, with its dividend unchanged since 2009, when it was cut by 83%.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!