Cohen Has Busy Third Quarter

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Nov 19, 2014
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Steven Cohen (Trades, Portfolio), founder of SAC Capital Advisors, a Stamford, Connecticut-based hedge fund, had a busy third quarter, buying and selling shares in more than 500 companies.

SAC had a return of 15% in 2010, down from 28.39% the year before.

In the third quarter of 2014, Cohen added holdings in more than 190 companies to his portfolio.

The acquisition that had the greatest impact was his purchase of Laredo Petroleum Inc (LPI, Financial), a Tulsa-based energy company. Cohen bought 4,672,010 shares at an average price of $25.5. The purchase had a 0.79% impact on his portfolio.

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Cohen also bought 2,933,700 shares in Superior Energy Services Inc (SPN, Financial), a Louisiana-based oil and gas company, for an average price of $34.66. That transaction had a 0.73% impact on his portfolio.

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Cohen purchased 1,994,100 shares of Alere Inc (ALR, Financial), a diagnostic device and service provider from Massachusetts, for an average price of $37.38. The buy had a 0.58% impact on his portfolio.

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Among the other companies Cohen added to his portfolio were Pier 1 Imports Inc (PIR, Financial), PBF Energy Inc (PBF, Financial), Anacor Pharmaceuticals Inc (ANAC, Financial), FedEx Corp (FDX, Financial) and Xilinx Inc (XLNX, Financial). Cohen’s other new buys had impacts of less than 0.25% on his portfolio.

Cohen increased his existing holdings in nearly 150 companies in the third quarter.

He bought 4,974,800 shares of Tyson Foods Inc (TSN, Financial), an Arkansas-based processor and marketer of chicken, beef and pork, more than tripling his stake, at an average price of $38.24. The transaction had a 1.47% impact on his portfolio.

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Cohen more than quadrupled his stake in Canadian Natural Resources Ltd (CNQ, Financial), a Calgary-based oil and gas exploration, development and production company, with the purchase of 4,754,600 shares at an average price of $42.71. That purchase had a 1.4% impact on his portfolio.

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Among the companies in which Cohen added to his existing stake were Anadarko Petroleum Corp (APC, Financial), Suncor Energy Inc (SU, Financial), Ingersoll-Rand PLC (IR), Devon Energy Corp (DVN), Range Resources Corp (RRC), Dollar Tree Stores Inc (DLTR), Sirius XM Holdings Inc (SIRI), LyondellBasell Industries NV (LYB), Air Products & Chemicals Inc (APD) and Micron Technology Inc (MU).

All the remaining additions to his portfolio had an impact of less than 0.5% on his portfolio.

Cohen sold his stakes in more than 200 companies during the third quarter.

He sold all his holdings in Packaging Corp of America (PKG), a manufacturer of packaging material based in Illinois, for an average price of $72.81. The transaction had a -0.63% impact on his portfolio.

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Cohen also sold his stake in Martin Marietta Materials Inc (MLM), a North Carolina-based supplier of heavy building materials, for an average price of $128.9. That transaction had a -0.53% impact on his portfolio.

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Cohen divested himself of his stock in Hewlett-Packard Co (HPQ), a California-based information technology company, selling his holdings for an average price of $35.71 per share. The deal had a 0.52% impact on his portfolio.

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Among the remaining companies in which Cohen sold all his holdings in the third quarter were Yelp Inc (YELP), Columbia Sportswear Co (COLM), Demandware Inc (DWRE), Eldorado Gold Corp (EGO), Bristol-Myers Squibb Company (BMY), Under Armour Inc (UA), International Paper Co (IP), Hertz Global Holdings Inc (HTZ), BHP Billiton Ltd (BHP) and Monsanto Co (MON).

He reduced his holdings in more than 180 companies.

Cohen sold 2,485,230 shares of Whiting Petroleum Corp (WLL), a Denver-based oil and gas company, for an average price of $85.12. The transaction had a -1.28% impact on his portfolio.

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Cohen also sold 4,902,700 shares in General Electric Co (GE), a Connecticut-based conglomerate, for an average price of $26. The deal had a -0.82% impact on his portfolio.

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Among the other companies in which Cohen reduced his holdings were Southwest Airlines Co (LUV), Hilton Worldwide Holdings Inc (HLT), Twenty-First Century Fox Inc (FOXA), Halliburton Co (HAL), Lowe's Companies Inc (LOW), Facebook Inc (FB), Comcast Corp (CMCSA), Home Depot Inc (HD), Visa Inc (V) and Expedia Inc (EXPE).

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