This content is from: Portfolio

The Morning Brief: Winton Trims U.S. Equity Exposure

Winton Capital Management, the London-based, computer-driven trading firm that has made a sizable bet on equities in recent years, slightly trimmed its U.S. stock holdings to $13.98 billion at the end of the third quarter from $14.7 billion the previous quarter, according to a U.S. regulatory filing. Its four largest holdings are defense contractors: Northrop Grumman, Raytheon, General Dynamics and L-3 Communications Holdings.

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Shares of hedge fund favorite Facebook slipped by less than $1 in after-hours trading, even though the social media giant reported very strong quarterly earnings that beat Wall Street estimates. Earnings rose 90 percent while ad revenue climbed 64 percent.

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Alan Howard’s BH Macro fund, managed by his London-based hedge fund firm Brevan Howard Asset Management, trimmed its loss in the past week and is now down 2.71 percent for the month through October 24. As a result, it is off 1.83 percent for the year through Friday, October 24.

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Retired hedge fund manager Thomas Steyer continues to pour money into environmental issues. The founder of San Francisco-based Farallon Capital Management has given $15 million to his NextGen Climate Action Fund, raising his contributions to $55.9m, according to British newspaper the Guardian, citing Federal Election Commission filings. Five environmental groups — including Steyer’s — have plunked down $85 million during this year’s mid-term elections trying to influence key races, according to the Washington Post. The environmental groups are most concerned about climate change and proposed regulations on greenhouse gas emissions from existing power plants, according to the report. Steyer’s and his cohorts’ cache of campaign cash to support left-wing issues is being compared to the right-wing fund raisers the Koch brothers, reminding most voters that cash is king during election season.

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