Hedge Fund Moore Capital Reduce Collins Stewart (LON:CLST) Position

Louis Bacon's hedge fund Moore Capital have reduced their long position in financial advisor Collins Stewart (LON: CLST). Moore's reduction below a 3% ownership stake in the company triggered a regulatory filing with the London Stock Exchange.

We cannot be sure if the hedge fund still owns shares or not, as they are not required to report a position once they breach that 3% threshold to the downside.

Moore could have sold completely out of the position, or they could still hold a long stake in CLST below the 3% level. Unfortunately, this is one of the pitfalls of the UK regulatory disclosure system. In other activity, we also noted Moore Capital reduced its Mecom position.

From Google Finance - "Collins Stewart plc is a United Kingdom-based company. It is an independent financial advisory group servicing corporates, financial institution, private equity houses, private clients, governments and quasi-governmental bodies. The Company's services covers institutional stockbroking, United Kingdom, European and United States research, corporate broking, corporate finance, debt capital markets, restructuring and debt advisory services and private client wealth management."

Moore Capital's flagship Moore Global fund was up 3% last year as noted in our compilation of 2010 hedge fund returns. Its macro managers fund, on the other hand, returned 105%.

Louis Bacon's Moore Capital Starts New Collins Stewart Position

Louis Bacon's global macro hedge fund Moore Capital Management has disclosed a new position in Collins Stewart (LON: CLST) traded in UK markets. Due to trading on the 2nd of November, Moore now holds 3.29% of CLST's shares outstanding. It must also be noted that Bacon's entire position has been acquired via the Contract For Difference market (CFDs). If you're unfamiliar with this instrument, we've penned a primer on CFDs here.

Though we haven't seen their investor letters as of late, we detailed Moore's first quarter letter here for those interested. Moore is one of the premier global macro funds out there as Bacon has been fixated on risk management as the path to success.

Regarding other hedge fund activity in UK markets, we just posted up that Larry Robbins' Glenview Capital raised its stake in Punch Taverns (PUB) and that Odey Asset Management disclosed a short position in Provident Financial (PFG).

Taken from Google Finance, Collins Stewart plc is "a United Kingdom-based company. It is an independent financial advisory group servicing corporates, financial institution, private equity houses, private clients, governments and quasi-governmental bodies.

The Company's services covers institutional stockbroking, United Kingdom, European and United States research, corporate broking, corporate finance, debt capital markets, restructuring and debt advisory services and private client wealth management. The Company has four operating divisions: Wealth Management, Securities, Corporate Broking and Advisory. Wealth Management is a portfolio manager and stockbroker with a focus on administering assets. The Securities division offers a research, sales and execution service to institutional clients across Europe and North America. It is a distributor of small and mid-cap equity, both primary and secondary, and specializes in raising such capital. Its corporate advisory firm Hawkpoint, provides advisory services."

Find out what other foreign positions hedge funds have moved into with our coverage of UK markets.