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Louis Moore Bacon Acquires More Than 1.5 Million Shares of JPMorgan Chase

Widely respected trader Louis Moore Bacon ( Trades , Portfolio ) has ETFs as the most heavily weighted sector in his portfolio - and an ETF was among his largest trades of the third quarter - but his most significant activity was in sectors that have less of a presence in his portfolio.

Bacon's most noteworthy third-quarter transaction was his acquisition of a 1,529,467-share stake in JPMorgan Chase & Co. ( JPM ), a New York-based banking and financial services company, for an average price of $65.57 per share. The deal had a 4.39% impact on Bacon's portfolio.

JPMorgan Chase has a market cap of $244.46 billion and an enterprise value of $212.85 billion. It has a P/E of 11.3, a forward P/E of 10.8, a P/B of 1.1 and a P/S of 2.7. GuruFocus has given JPMorgan Chase a Financial Strength rating of 4/10 and a Profitability and Growth rating of 6/10.

James Barrow (Trades, Portfolio), Dodge & Cox, Chris Davis (Trades, Portfolio), Ken Fisher (Trades, Portfolio), T Rowe Price Equity Income Fund (Trades, Portfolio), HOTCHKIS & WILEY, PRIMECAP Management (Trades, Portfolio), Bill Nygren (Trades, Portfolio), Richard Pzena (Trades, Portfolio), Diamond Hill Capital (Trades, Portfolio), Glenn Greenberg (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), NWQ Managers (Trades, Portfolio), Richard Snow (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Leon Cooperman (Trades, Portfolio), Ken Heebner (Trades, Portfolio), Ronald Muhlenkamp (Trades, Portfolio), Charles Brandes (Trades, Portfolio), Manning & Napier Advisors Inc., Mairs and Power (Trades, Portfolio), Arnold Schneider (Trades, Portfolio), Tom Gayner (Trades, Portfolio), John Buckingham (Trades, Portfolio), John Rogers (Trades, Portfolio), David Dreman (Trades, Portfolio), First Eagle Investment (Trades, Portfolio), Mark Hillman (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Ruane Cunniff (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Ray Dalio (Trades, Portfolio), John Keeley (Trades, Portfolio) and David Swensen (Trades, Portfolio) have shares of JPMorgan Chase in their portfolios.

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On Thursday JPMorgan Chase sold for $66.51 per share.

Bacon purchased a 1,500,000-share stake in iShares FTSE/Xinhua China 25 Index(ETF) [FXI] for an average price of $38.9 per share. The acquisition had a 2.5% impact on Bacon's portfolio.

David Swensen (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), First Eagle Investment (Trades, Portfolio), Jim Simons (Trades, Portfolio) and John Keeley (Trades, Portfolio) have shares in iShares FTSE/Xinhua China 25 Index in their portfolios.

The Index sold for $35.83 per share Thursday.

Bacon invested in a 750,000-share stake in Aramark ( ARMK ), a Philadelphia-based foodservice company, for an average price of $31.63 per share. The transaction had a 1.05% impact on Bacon's portfolio.

Aramark has a market cap of $7.79 billion and an enterprise value of $12.96 billion. It has a P/E of 33.8, a forward P/E of 18.5, a P/B of 4.1 and a P/S of 0.6. GuruFocus has given Aramark a Financial Strength rating of 5/10 and a Profitability and Growth rating of 5/10.

Lee Ainslie (Trades, Portfolio), Jana Partners (Trades, Portfolio), Larry Robbins (Trades, Portfolio), Steven Cohen (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Mario Gabelli (Trades, Portfolio) and Caxton Associates (Trades, Portfolio) have shares of Aramark in their portfolios.

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On Thursday Aramark sold for $32.52 per share.

Bacon acquired a 305,000-share stake in Lowe's Companies Inc. ( LOW ), a Mooresville, North Carolina-based home improvement and appliance retailer, for an average price of $68.77 per share. The acquisition had a 0.99% impact on Bacon's portfolio.

Lowe's has a market cap of $68.54 billion and an enterprise value of $79.76 billion. It has a P/E of 23.5, a forward P/E of 23.0, a P/B of 8.3 and a P/S of 8.3. GuruFocus has given Lowe's a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10.

First Eagle Investment (Trades, Portfolio), Third Avenue Management (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Tom Gayner (Trades, Portfolio), Ron Baron (Trades, Portfolio), Jim Simons (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Chris Davis (Trades, Portfolio), Robert Olstein (Trades, Portfolio), George Soros (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Jeff Auxier (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Ruane Cunniff (Trades, Portfolio), Mairs and Power (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Dodge & Cox, Lee Ainslie (Trades, Portfolio) and David Dreman (Trades, Portfolio) have shares of Lowe's in their portfolios.

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Lowe's sold for $74.9 per share Thursday.

Bacon reduced his stake in Ameriprise Financial Inc. ( AMP ), a Minneapolis-based financial services company, by nearly 95%, selling 520,000 shares for an average price of $117.96 per share. The deal had a -1.41% impact on Bacon's portfolio.

Ameriprise has a market cap of $18.38 billion and an enterprise value of $28.13 billion. It has a P/E of 11.9, a forward P/E of 10.2, a P/B of 2.4 and a P/S of 1.6. GuruFocus has given Ameriprise a Financial Strength rating of 4/10 and a Profitability and Growth rating of 7/10.

James Barrow (Trades, Portfolio), Andreas Halvorsen (Trades, Portfolio), Jim Simons (Trades, Portfolio), Ken Fisher (Trades, Portfolio), First Pacific Advisors (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), First Eagle Investment (Trades, Portfolio), John Keeley (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), David Dreman (Trades, Portfolio), Dodge & Cox, Jeff Auxier (Trades, Portfolio), Mairs and Power (Trades, Portfolio), Lee Ainslie (Trades, Portfolio) and Joel Greenblatt (Trades, Portfolio) have shares of Ameriprise in their portfolios.

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Ameriprise sold for $105.70 per share Thursday.

Bacon sold his 273,000-share stake in Baidu Inc. ( BIDU ), a Beijing-based Internet services company, for an average price of $164.85 per share. The transaction had a -1.18% impact on Bacon's portfolio.

Baidu has a market cap of $68.22 billion and an enterprise value of $63.3 billion. It has a P/E of 36.3, a forward P/E of 28.3, a P/B of 7.8 and a P/S of 7.3. GuruFocus has given Baidu a Financial Strength rating of 9/10 and a Profitability and Growth rating of 7/10.

Frank Sands (Trades, Portfolio), Dodge & Cox, David Herro (Trades, Portfolio), First Pacific Advisors (Trades, Portfolio), Manning & Napier Advisors Inc., Jeremy Grantham (Trades, Portfolio), Matthews Pacific Tiger Fund (Trades, Portfolio), Ken Fisher (Trades, Portfolio), John Rogers (Trades, Portfolio), Mason Hawkins (Trades, Portfolio), Jim Simons (Trades, Portfolio), Matthews China Fund (Trades, Portfolio), Chris Davis (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Ron Baron (Trades, Portfolio) and First Eagle Investment (Trades, Portfolio) have shares of Baidu in their portfolios.

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On Thursday Baidu sold for $197.38 per share.

Bacon sold his 685,413-share stake in EndoInternational PLC (ENDP), a health care company with offices in Dublin and Malvern, Pennsylvania, for an average price of $80.05 per share. The divestiture had a -1.18% impact on Bacon's portfolio.

Endo International has a market cap of $14.02 billion and an enterprise value of $22.16 billion. It has a forward P/E of 10.4, a P/B of 2.2 and a P/S of 3.3. GuruFocus has given Endo International a Financial Strength rating of 5/10 and a Profitability and Growth rating of 6/10.

Larry Robbins (Trades, Portfolio), John Griffin (Trades, Portfolio), Steve Mandel (Trades, Portfolio), George Soros (Trades, Portfolio), John Paulson (Trades, Portfolio), Wallace Weitz (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Kyle Bass (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Diamond Hill Capital (Trades, Portfolio), Mario Gabelli (Trades, Portfolio) and Steven Cohen (Trades, Portfolio) have shares of Endo International in their portfolios.

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Endo International sold for $61.38 per share Thursday.

Bacon sold his 1,416,316-share stake in JD.com Inc. (JD), a Beijing-based ecommerce company, for an average price of $28.92 per share. The deal had a -1.05% impact on Bacon's portfolio.

JD.com has a market cap of $44.29 billion and an enterprise value of $41.46 billion. It has a forward P/E of 188.7, a P/B of 7.7 and a P/S of 1.6. GuruFocus has given JD.com a Financial Strength rating of 6/10 and a Profitability and Growth rating of 2/10.

Chase Coleman (Trades, Portfolio), Steve Mandel (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Andreas Halvorsen (Trades, Portfolio), Julian Robertson (Trades, Portfolio), Howard Marks (Trades, Portfolio), Chris Davis (Trades, Portfolio), Stanley Druckenmiller (Trades, Portfolio), George Soros (Trades, Portfolio), Matthews China Fund (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), John Burbank (Trades, Portfolio) and Pioneer Investments (Trades, Portfolio) have shares of JD.com in their portfolios.

JD.com sold for $32.38 per share Thursday.

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This article first appeared on GuruFocus .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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