We think it’s unlikely that investors will end up redeeming their cash from Moore Capital after today’s insider trading arrest.
Based on first blush, this doesn’t look to be Raj, so there won’t be great opportunities for shorts to play the liquidation.
Still this gives us a good chance to examine Louis Bacon’s investing profile.
Here are the fund’s last reported top-10 holdings, according to Stockpickr. Notice they’re super-heavy on financials.
- Bank of America (BAC, 29.31% of portfolio)
- Standard and Poors (SPY, 5.48% of portfolio)
- Mastercard (MA, 5.05% of portfolio)
- IShares Trust (EEM, 4.79% of portfolio)
- CME Group (CME, 3.95% of portfolio)
- Assured Guarantee (AGO, 3.84% of portfolio)
- Max Capital Group (MXGL, 2.95% of portfolio)
- Banco Santander (BSDR, 2.61% of portfolio)
- Citigroup (C)
- Wells Fargo (WFC)
Moore Cap has just said that no client funds were involved in the possibly illegal trades, so again the possibility of a liquidation is unlikely.
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