Steven Cohen

SAC Capital Advisors

Last Update: 2013-06-06

Number of Stocks: 1498
Number of New Stocks: 349

Total Value: $20,728 Mil
Q/Q Turnover: 42%

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Steven Cohen Watch

Controversy Stricken Steven Cohen Adds One and Increases One
by Monica Wolfe - Jun 07, 2013
Steven Cohen, founder of SAC Capital, has been in the midst of quite a bit of controversy recently as an insider trading scandal stretching back several years has finally come into the limelight. SAC Capital and several of its employees have been charged with securities fraud as a result of illegal insider trading. In light of all of the firm’s recent controversy, several big clients, including Blackstone Group (BX) and Morgan Stanley (MS), have removed their money and left SAC Capital.

Despite the fact some of his largest investors have taken their money and left, Steven Cohen made some notable purchases on June 5. Cohen increased his holdings in the advertising company Lamar and bought into educational company ITT Educational. As of the most recent quarter Cohen owned 1,498 stocks valued at over $20 billion. Continue Reading »
Third on New Rich List, Cohen Poised for Nexstar’s Major Expansion
by Sally Jones - May 09, 2013
It looks like the stars have aligned for Nexstar Broadcasting Group Inc. (NXST), one of the nation’s top 20 television broadcasting companies in Irving, Texas. Yesterday, the company reported plans for a major expansion that is “expected to result in a total leverage ratio of approximately 3.5 times at year-end 2014,” according to Nexstar’s chairman and CEO Perry A. Sook. The company also reported yesterday a new record for its first quarter 2013 revenue of $112.2 million, an increase of 34.2%. In 2012 the company generated a record net revenue of $379 million, with cash flow of $171 million and adjusted EBITDA of $146 million. Nexstar is also getting the yes vote from one of the richest investors in the U.S., Steven Cohen of SAC Capital Advisors, recently listed as third on the latest “Rich List” by Institutional Investors Alpha. Cohen is reported to have earned $1.4 billion in 2012.

As of May 7, 2013, Cohen, the intuitive, poker-playing hedge fund genius, increased his position with Nexstar Broadcasting Group (NXST) by a12,851.79%, picking up around 1.5 million shares in the price range $26.73. This trade impacts his portfolio by 0.24%. Continue Reading »
NY Judge Approves SAC Capital's $600 Million Insider Trading Settlement
by Monica Wolfe - Apr 16, 2013
Today a New York judge approved the massive $602 million settlement that would resolve the insider trading scandal involving SAC Capital Advisors and Mathew Martoma. Judge Victor Marrero made a statement agreeing that the settlement payment is fair. He also claimed that he is “troubled” by the fact that CR Intrinsic Investors, the fund associated with Guru Steven Cohen and SAC Capital, were simply able to write a check and be done with the whole ordeal even though they were never required to admit or deny their involvement in illegal insider trading.

“In this court’s view, it is both counterintuitive and incongruous for defendants in this SEC enforcement action to agree to settle a case for $600 million that would cost a fraction of that amount, say $1 million, to litigate, while simultaneously declining to admit the allegations asserted against it by the SEC,” Judge Marrero wrote. The judge also added that CR Intrinsic “essentially folded” as long as the SEC would not make them admit their guilt. Continue Reading »
Steve Cohen Increases Celldex Up 145%
by Sally Jones - Apr 06, 2013
Sick of SEC and SAC? Here’s a new thread that brings us back to what investing is all about.

With its leading drug candidates for the treatment of brain cancer and breast cancer nearing the third and final phase of clinical trials, and with six more new drugs in the pipeline, Celldex Therapeutics Inc. (CLDX) is up 59% since January, and 145% over the last 12 months. Continue Reading »
Art Collector Billionaire Steven Cohen and Sotheby’s--The Scream
by Sally Jones - Mar 30, 2013
Famous art auctioneer Sotheby’s Annual Report 2012 is aptly covered with “The Scream,” the harrowing painting by Edvard Munch. Why the scream? Sotheby’s reported net income of $108.3 million in 2012 reflects a 37% decrease from 2011.

Recently fined around $616 million in the largest-ever SEC settlement for insider trading allegations, SAC Capital, led by founder Steven Cohen, also has something to scream about. Last week in the Federal District Court of Manhattan, Judge Victor Marrero reserved judgment on approving the settlement, according to Dealbook, saying, “There is something counterintuitive and incongruous about settling for $600 million if it (SAC) truly did nothing wrong.” Continue Reading »
SAC Capital's Insider Trading Woes Cost Them over $600 Million
by Monica Wolfe - Mar 20, 2013
SAC Capital Advisors LP, the hedge fund run by Guru Steven Cohen, will pay a record-breaking $616 million in order to correct U.S. regulatory claims stating that two of its portfolio managers were involved in illegal insider trading. The $616 million is set to be paid, but that doesn’t prohibit or necessarily mean that the Securities and Exchange Commission (SEC) won’t pursue Cohen, himself, in the future. Cohen claims that he’s done nothing wrong, but he will be the one paying back the bulk of this fee.

Steven Cohen was connected to the alleged illegal trades done by SAC Capital’s subsidiary company, CR Intrinsic Investors LLC, and its former manager, Mathew Martoma, in November 2012. U.S. prosecutors have described this as the “most-lucrative insider-trading scheme” they’ve ever seen. The estimated profits and averted losses of this case add up to $276 million. Continue Reading »
Steven Cohen Boosts ANN
by Sally Jones - Mar 07, 2013
On March 5, 2013 one of the most successful traders in the world and founder of SAC Capital Advisors Steve Cohen increased his stake in Ann Inc. (ANN) by 347.34%, listing current shares at 2,582,551. The current price is $28.66, reflecting a 3% change from the average. Ann Taylor Stores creates an “aspirational luxury brand” for working women, retailing career and casual women’s apparel, shoes and accessories sold primarily under the Ann Taylor and LOFT brands. Steven Cohen’s Holding History of ANN shows a long relationship and a steady climb from third quarter 2011.
Continue Reading »
Billionaire Steven Cohen Vitamins Up with GNC
by mdhargrave - Mar 04, 2013
Steve Cohen and SAC Capital are getting nutritious, in the sense that the billionaire-dollar hedge fund has upped its stake by over thirty times what it owned at the end of the fourth quarter in the vitamin and supplement retailer GNC Holdings (GNC). SAC Capital now owns 5.195 million shares, or 5.2% of GNC's outstanding shares. But, should investors follow Cohen's lead?

The stock is up 150% since its early 2011 IPO and now trades near its all-time high of $42 per share, but I still believe there could be room for it to go higher. Continue Reading »
Steven Cohen Buys Spin-Off Starz Inc.
by Holly LaFon - Jan 30, 2013
Manager of SAC Capital Steven Cohen reported a new stock buy to the SEC: Starz Inc. (STRZA). Cohen bought 6,311,262 shares of the media and entertainment company at an average price of $16 a share, according to GuruFocus Real Time Picks. Cohen’s buy places him at 5.7% ownership of the company.

The move comes several weeks after Starz began trading on the Nasdaq stock exchange following its spin off from Liberty Media Company (LMCAV) on Jan. 11. As part of the spin off, Liberty Media Corporation changed its name to Starz, and Liberty Spinco Inc. changed its name to Liberty Media Corporation (LMCAD). Continue Reading »
Stevie Cohen On Board with Real Estate Betting, Despite SEC Probe
by Dianne Tordillo - Jan 18, 2013
The investigations that the Securities and Exchange Commission has been performing on Guru investor Steven Cohen’s hedge fund, SAC Capital, have been ongoing for several months now, alleging (some confirming true) that some former and current SAC portfolio managers have committed securities fraud through sharing nonpublic information from company insiders to acquire stocks. However, this has not stopped the hedge fund from continuing on with its betting.

Yesterday, a 13G filing by SAC Capital Advisors revealed it had purchased more shares of commercial real estate finance company, Colony Financial Inc. (CLNY) – a whole lot more. Adding more than 2.9 million shares to its current stake, the transaction was an 866.71 percent increase, according to GuruFocus Real Time Picks. Continue Reading »
Steven Cohen Significantly Increases in ArthroCare Corp., Almost 300%
by Dianne Tordillo - Dec 03, 2012
As of Nov. 29, billionaire Guru investor, Steven Cohen, founder of SAC Capital Advisors, has reported to purchasing more than 1.5 million shares of ArthroCare Corp. (ARTC), increasing his holding by 288.73 percent according to GuruFocus Real Time Picks.

This places Cohen at 5.6 percent owner of the company, with a current holding of 1,556,096 shares. At the end of the third quarter, he only reported 400,300 shares. Continue Reading »
Steven Cohen’s SAC Capital Advisors Q3 Updates: Buys Fossil, Fastenal Company and C.R. Bard
by Dianne Tordillo - Nov 19, 2012
Among the almost 2,000 transactions that SAC Capital Advisors reported in the 13F holdings report to the SEC for the period ending Sept. 30, Fossil Inc. (FOSL), Fastenal Company (FAST) and C.R. Bard (BCR) were the company’s top three new buys.

The transactions consisted of: Continue Reading »
Cohen Increases Stake in Goodrich Petroleum by 1141%, Another Energy Stock
by Dianne Tordillo - Nov 02, 2012
SAC Capital Advisors’ Steven Cohen has sparked intrigue lately due to his recent bullish moves on some of his shareholdings in energy stocks. His most recent one: a 1141.47% addition to his stake of independent oil and gas exploration and production company, Goodrich Petroleum Corp. (GDP).

After the purchase, Cohen's ownership grew to 5.1%, with a current holding of almost 1.9 million shares. In the second quarter, he reported 150,400 Goodrich shares. Continue Reading »
Steven Cohen Snatches Up OpenTable Inc., Again
by Dianne Tordillo - Oct 25, 2012
SAC Capital Advisors’ Steven Cohen purchases back his shareholding of online reservation website, OpenTable Inc. (OPEN), after selling all of his shares of the stock in the second quarter. His most recent stock acquisition, reported on Oct. 23 on GuruFocus Real Time Picks places him at 5 percent ownership with 1,155,392 shares.

Cohen’s holding history with OpenTable dates back since the third quarter of 2010, when he purchased 8,078 shares of the company at an average price of $52.49. Continue Reading »
5 Things You Probably Didn’t Know about SAC’s Stevie Cohen
by Coeus Capital - Oct 25, 2012
Dubbed one of the most successful traders in the world, with an estimated net worth of $8.3 billion as of March 2012 and 196^th richest man in the world according to Forbes, is SAC’s Steven Cohen. Without further ado, here goes the list:

1) Chaos theory. Cohen can see order within chaos and just trade. Quote: “When he was building SAC, people would say things about the way he made his money that were not flattering—we heard all those rumors,” says Gary Goldring, onetime co-C.E.O. of Spear, Leeds & Kellogg, the firm that cleared SAC’s trades. “But let me tell you, as his clearing agent, I’ve seen all his records, hundreds of thousands of trades, all of it, and my conclusion is simply that the guy is an artist. He looks at a stock market in chaos and sees order. He was just right over and over and over. I’ve sat and watched him trade, watched him stare at his terminal in silence, and I can tell you, without a doubt, he is the best that ever was at what he does. On the planet.” Continue Reading »
Steven Cohen Adds to Superior Energy Stakes, 649.41%
by Dianne Tordillo - Oct 04, 2012
Founder of hedge fund SAC Capital Advisors, Steven Cohen, purchases about 6.8 million more shares of Superior Energy Services Inc. (SPN), reported on 10/02/2012 according to GuruFocus Real Time Picks.

At an average price of $20.36 per share, Cohen’s total SPN share amount is 7,911,426, boosting his company ownership to 5%. Continue Reading »
Steven Cohen Buys Gaylord Entertainment as It Converts to REIT
by Holly LaFon - Jun 04, 2012
Steven Cohen, founder of SAC Capital Advisors, bought a position in a new holding, Gaylord Entertainment (GET), according to GuruFocus Real Time Picks. His purchase was of 2,508,358 shares at $38 a share on May 31, the same day the company announced it would sell some of its assets and reorganize as a Real Estate Investment Trust (REIT).

Gaylord Entertainment is a Nashville-based entertainment and hospitality company that owns brands such as Gaylord Hotels, the Grand Ole Opry, and many others. After a strategic review, the company decided to sell its Gaylord Hotels brand and the rights to manage its four hotel to Marriott International Inc. (MAR) for $210 million in cash before it converts to a REIT. Continue Reading »
Steven Cohen Boosts Stake in Two Holdings
by Holly LaFon - May 03, 2012
Steven Cohen, the billionaire hedge fund manager of SAC Capital Advisors, has been adding to holdings of companies of which he owns a substantial portion, according to GuruFocus’ Real Time Picks. Though the SEC requires investors to report their holdings once a quarter, if they own more than 5% of a company, they are required to report any buys and sells of it within a few days. GuruFocus Real Time Picks reports these trades of gurus’ largest holdings.

On May 1, Cohen increased his holding of Clearwater Paper (CLW) 8.8%, adding 132,821 shares at approximately $32 per share, and bringing his total holding to 1,640,000 shares or 6.32% of shares outstanding. Cohen opened his position in Clearwater Paper in the first quarter of 2011 at approximately $20 per share. Continue Reading »
Steven Cohen Increases OCZ Technology and MedAssets Inc. 10815%
by Holly LaFon - Apr 17, 2012
Steven Cohen, founder of $14 billion hedge fund SAC Capital Advisors which has returned nearly 30% annually in the last 20 years, made major increases to two of his high-growth-potential holdings on April 5, according to GuruFocus Real Time Picks. Though once trading-oriented, SAC increasingly emphasizes fundamental and technical strategies in equity selection.

Steven Cohen drastically increased his position in MedAssets Inc. (MDAS), a company that helps healthcare providers increase revenue and operating margins and has a $12 billion total U.S. market opportunity, by 10815%. He now owns 3,238,369 shares. The stock price had fallen 18% over the last year and has dropped 4% since Cohen’s most recent purchase. Continue Reading »
Steven Cohen Adds Amarin Corp., Buys Hyatt Hotels
by Holly LaFon - Mar 28, 2012
Steven Cohen is the founder of Stamford, Conn.-based SAC Capital, a $14 billion hedge fund where he returned almost 30% on annual average over the last 20 years. When asked about his investment tenets at the 2011 SALT conference, Cohen responded, “Risk management is really important. Obviously we do an incredible amount of fundamental work. But you have to combine the two because things go wrong and you have to be flexible.” His portfolio is diversified with consumer services, oil & gas and technology occupying 15.1%, 13.1% and 11.4% of it, respectively. The firm is large, and Cohen actually manages less than 10% of its capital.

Cohen’s latest big trades involve hotels and a drug awaiting FDA approval, according to GuruFocus Real Time Picks. On March 14, SAC Capital bought Hyatt Hotels (H) and added to its position in Amarin Corp. Plc (AMRN). Continue Reading »