Caxton’s U.S. Stock Book Jumps 40 Percent as Law Adds Three New Mega Positions

Andrew Law reshaped the macro fund’s equity portfolio in Q4, with Tesla expanding and new bets on AMD, BP, and Barrick immediately landing in the top tier of holdings.

Stephen Taub February 24, 2026

Caxton Associates, the London-based macro firm headed by Andrew Law, made several big bets on U.S. stocks in the fourth quarter.Regulatory filings reveal just how aggressively Caxton pivoted toward U.S. equities. The value of its U.S. long portfolio jumped more than 40 percent in the

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