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Controversy Plagued Steven Cohen Reports Top Five Positions for His Last Quarter as Money Manager

Monica Wolfe

Monica Wolfe

119 followers

Guru Steven Cohen consistently keeps one of the largest portfolios of all the gurus, and this quarter was no different. The guru, who has suffered a tumultuous 2013 due to insider trading controversies throughout his hedge fund, maintained an even larger and higher-valued portfolio than the second quarter of 2013.

During the third quarter Cohen bought 465 new stocks, bringing his total portfolio to 1,757 stocks valued at $17.218 billion. This is down from his third quarter holdings of 1749 stocks valued at $18.5 billion.

Guru and billionaire investor Steven Cohen (Trades, Portfolio)’s SAC Capital will no longer operate as a hedge fund this next year even though 2013 brought in some of the best returns ever for the fund. After a tough year of accusations of insider trading for the fund, several important members of SAC Capital finally plead guilty to many of the charges last month.

Steven Cohen (Trades, Portfolio) reported to his outside investors at the end of 2013 that the fund had mustered up a 20.10% gain, making it one of the hedge fund industry’s best returns to date. Cohen is busy preparing to stop managing money for wealthy outside investors after his fund plead guilty to insider trading last month. One of the conditions Cohen received as a punishment was that he was required to quit managing money for outside investors along with paying a $1.2 billion penalty.

The following five companies are Cohen’s five largest portfolio positions as of the close of the fourth quarter.

Amazon (AMZN)

Cohen’s largest holding is in Amazon where he maintains 503,705 shares of the company’s stock. This position makes up for 1.2% of his total portfolio as well as 0.11% of the company’s shares outstanding.

During the fourth quarter Cohen upped his stake in Amazon 230.05% by purchasing 351,092 shares of the company’s stock. He bought these shares near the estimated average quarterly price of $359.62 per share. Since then the price per share has dropped approximately -0.6%.

Cohen’s historical holding history:

1392662569892.png

Amazon serves consumers through its retail websites and focuses on selection, price, and convenience. It designs its websites to enable millions of unique products to be sold by the company and by third parties across dozens of product categories. The company offers programs that enable sellers to sell their products and fulfill orders through Amazon.com and their own branded websites.

Amazon’s historical revenue and net income:

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The analysis on Amazon reports that the company’s asset growth is faster than its revenue growth, its operating margin has been in a 5-year decline and the company has shown predictable revenue and earnings growth.

Amazon.com has a market cap of $164.12 billion. Its shares are currently trading at around $357.35 with a P/E ratio of 613.00 and a P/S ratio of 2.20. The company had an annual average earnings growth of 36.80%.

Google (GOOG)

The guru’s second largest holding goes to Google where he holds on to 168,550 shares of the company’s stock. His position makes up for 1.1% of his total assets managed as well as 0.05% of the company’s shares outstanding.

During the fourth quarter Cohen increased his holdings in Google 75.52% by purchasing 351,092 shares of the company’s stock. He bought these shares at a price near the company’s estimated average quarterly price of $1015.29 per share. Since then the price per share has increased approximately 18.5%.

Cohen’s holding history as of the close of the fourth quarter:

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Google is a global technology company engaged in improving the ways people connect with information. The company's business is mainly focused around the following key areas: search, advertising, operating systems and platforms, enterprise and hardware products.

Google’s historical revenue and net income:

1392669262917.png

The analysis on Google reports that the company’s price is near a 10-year high, the company has issued $5 billion of debt over the past three years, its interest coverage is comfortable and it’s shown signs of predictable revenue and earnings growth.

The Peter Lynch Chart suggests that Google is currently overvalued:

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Google has a market cap of $404.2 billion. Its shares are currently trading at around $1202.80 with a P/E ratio of 35.30, a P/S ratio of 7.70 and a P/B ratio of 4.63. The company had an annual average earnings growth of 31.50% over the past 10 years.

GuruFocus rated Google the business predictability rank of 2.5-star.

SunEdison (SUNE)

Cohen’s third largest position is in SunEdison. The guru holds on to 12,799,154 shares of the company’s stock, representing 0.97% of his total portfolio holdings as well as 5.52% of the company’s shares outstanding.

During the fourth quarter Cohen cut his holdings a slight -3.73% by selling 495,479 shares of the company’s stock. He sold these shares near the estimated average quarterly price of $11.28 per share, and since then the price per share is trading up about 26.1%.

Cohen’s historical holding history:

1392663004674.png

SunEdison is engaged in the manufacture and sale of wafers and related products to the semiconductor and solar industries.

SunEdison’s historical revenue and net income:

1392668837236.png

The analysis on SunEdison reports that the company’s revenue has been in decline over the past year, its price is near a 3-year high and over the past three years the company has issued $1.3 billion of debt.

There are currently seven gurus that hold a position in SunEdison. Check out their historical holdings here.

SunEdison has a market cap of $3.79 billion. Its shares are currently trading at around $14.22 with a P/S ratio of 1.60 and a P/B ratio of 6.80.

CBS Corporation (CBS)

The guru’s fourth largest holding goes to CBS Corporation where he holds on to 2,557,499 shares of the company’s stock. This position makes up for 0.95% of Cohen’s portfolio and 0.42% of CBS Coroporation’s shares outstanding.

During the fourth quarter Cohen made a huge increase of 853.9% by purchasing 2,289,390 shares of the company’s stock. He bought these shares near the average quarterly price of $58.81 per share, and since then the price per share has increased approximately 10.5%.

Cohen’s holding history as of the fourth quarter:

1392663289303.png

CBS is a mass media company with operations in the following segments: Television, Radio, Outdoor and Parks/Publishing.

CBS’s historical revenue and net income:

1392668262590.png

The analysis on CBS reports that the company’s dividend yield is near a 2-year low, its price is near a 5-year high and its P/B and P/S ratios are also near historical highs.

The Peter Lynch Chart suggests that the company is currently overvalued:

1392668446394.png

CBS has a market cap of $38.98 billion. Its shares are currently trading at around $64.96 with a P/E ratio of 22.80, a P/S ratio of 2.70 and a P/B ratio of 3.70.

Halliburton Company (HAL)

The guru’s fifth largest holding is in Halliburton where he holds on to 3,225,943 shares of the company’s stock. His position makes up for 0.95% of his total portfolio as well as 0.35% of the company’s shares outstanding.

During the fourth quarter Cohen increased his holdings in Halliburton 2984.99% by purchasing 3,121,374 shares. He bought these shares near the average quarterly price of $51.69 per share. Since then the price per share has increased approximately 3.6%.

Cohen’s historical holding history:

1392663454655.png

Halliburton is a provider of services and products to the energy industry related to the exploration, development, and production of oil and natural gas. It operates under two divisions: Completion and Production segment, and Drilling and Evaluation segment.

Halliburton’s historical revenue and net income:



The analysis on Halliburton reports that the company’s revenue has slowed town over the past year, its asset growth is faster than its revenue growth and its operating and gross margins have been in a 5-year decline.

The Peter Lynch Chart suggests that the company is currently overvalued:



Halliburton has a market cap of $45.58 billion. Its shares are currently trading at around $53.57 with a P/E ratio of 22.40, a P/S ratio of 1.60 and a P/B ratio of 3.40. The company had an annual average earnings growth of 13.50% over the past ten years.

Check out Steven Cohen’s complete fourth quarter holdings here.

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Rating: 2.8/5 (4 votes)

Comments

vgm
Vgm - 5 months ago

Currently his largest position is Intercept Pharmaceuticals. The stock went from about $70 to $400+ overnight, early in January. He increased his position by 108% in Q4. Great call Stevie ;-)

sapporosteve
Sapporosteve premium member - 5 months ago

That must of been one of his insider trades :)

vgm
Vgm - 5 months ago

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