Point72 Asset Management leader Steven Cohen (Trades, Portfolio) disclosed Feb. 7 he established a 3.53% stake in travel retail company Hudson Ltd. (HUD, Financial), which is a subsidiary of Switzerland-based Dufry AG (DUFRY, Financial).
According to GuruFocus real-time picks, Cohen picked up 1.87 million shares of the East Rutherford, New Jersey-based company for an average price of $17.42 per share, giving it 0.15% portfolio space.
Hudson, which debuted on the New York Stock Exchange on Feb. 1 at $19 per share, operates a slew of duty-paid and duty-free travel stores in airports and commuter terminals across the U.S., its largest operation being at the Los Angeles International Airport. According to Hudson’s website, its two flagship brands are Hudson News and Hudson, which provide newspapers, magazines and travel essentials. It also operates bookstores, restaurants and cafes and specialty retail shops with well-known brands like Vineyard Vines, Discovery Channel and Eddie Bauer.
The stock, which closed at $16.29 on Friday, has fallen since its initial public offering.
Cohen, whose former hedge fund, SAC Capital Investors, was investigated for insider trading in 2012, now runs the $22.4 billion portfolio of Point72, which is a family asset manager based in Stamford, Connecticut.
With the goal of achieving superior risk-adjusted returns, the guru investor’s portfolio of 845 holdings is largely invested in the consumer cyclical and health care sectors. His top five holdings, as of the third quarter of 2017, are Time Warner Inc. (TWX, Financial), Altaba Inc. (AABA, Financial), Amazon.com Inc. (AMZN, Financial), Danaher Corp. (DHR, Financial) and Facebook Inc. (FB, Financial).
Disclosure: No positions.
