Cohen's SAC Capital Accumulates Stakes in Target (TGT), Pilgrim's Pride (PPC) and Some Financials (STI, FITB, STT)

August 18, 2008 4:00 PM EDT

Steven Cohen's SAC Capital released its latest 13F for the quarter ended June 30, 2008 late last week. Notably, Cohen's hedge fund bought a few banks and other financial firms including, SunTrust Bank (NYSE: STI), Fifth Third Bancorp (Nasdaq: FITB) and State Street (NYSE: STT). He also took big stakes in Target (NYSE: TGT) and Pilgrim's Pride (NYSE: PPC). Cohen nearly doubled his stake in Service Corp. International (NYSE: SCI). Cohen trimmed his positions in Research In Motion Ltd. (Nasdaq: RIMM) and Elan (NYSE ELN) and got rid of Aventine (NYSE: AVN) and Delta Airlines (NYSE: DAL).

Below are some highlights from the filing.

New Stakes:
Target (NYSE: TGT) 2,431,602 shares
Pilgrim's Pride (NYSE: PPC) 5,492,850 shares
Google (Nasdaq: GOOG) 166,088 shares
Estee Lauder Companies Inc. (NYSE: EL) 1,487,100 shares
SunTrust Bank (NYSE: STI) 1,312,500 shares
Fifth Third Bancorp (Nasdaq: FITB) 3,689,404 shares
General Motors (NYSE: GM) 1,314,831 shares

Raised Stakes:
Wyeth (NYSE: WYE) from 2,232,200 shares to 6,121,100 shares
Newmont Mining (NYSE: NEM) from 40,300 shares to 4,012,500 shares
State Street (NYSE: STT) from 35,800 shares to 2,275,000 shares
Ameriprise (NYSE: AMP) from 43,300 shares to 3,157,992 shares
Apple (Nasdaq: AAPL) from 401,000 shares to 657,416 shares
Mattel (NYSE: MAT) from 203,900 shares to 3,664,200 shares
Service Corp. International (NYSE: SCI) from 5,836,965 shares to 10,049,539 shares
Dell (Nasdaq: DELL) from 10,609 shares to 1,490,518 shares

Lowered Stakes:
Research In Motion Ltd. (Nasdaq: RIMM) from 1,604,560 shares to 1,108,142 shares
Elan (NYSE ELN) from 5,919,513 shares to 2,700,000 shares
National Oilwell Varco (NYSE: NOV) from 1,572,500 shares to 532,700 shares
Sprint Nextel (NYSE: S) from 1,000,000 to 0
Savient Pharmaceuticals Inc. (SVNT) from 1,762,312 shares to 0
Frontier Oil Corp. (FTO) from 1,306,900 shares to 0
Dynegy (NYSE: DYN) from 1,700,000 shares to 0
Delta Airlines (NYSE: DAL) from 2,497,500 shares to 0
Aventine (NYSE: AVR) from 1,432,400 to 0
Acorda Therapeutics, Inc. (ACOR) from 1,584,406 to 0


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AAPL 89.91

+1.77 +2.01%
Volume: 43,223,395
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AMP 16.00

-0.31 -1.90%
Volume: 5,303,732
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AVN 17.35

-0.16 -0.91%
Volume: 4,760
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AVR 0.78

-0.15 -16.13%
Volume: 444,083
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DAL 7.88

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Volume: 10,871,143
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DELL 10.60

+0.08 +0.76%
Volume: 27,842,306
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DYN 2.31

+0.00 +0.00%
Volume: 5,765,901
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EL 29.15

-0.58 -1.95%
Volume: 3,053,816
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FITB 9.32

+0.18 +1.97%
Volume: 11,229,747
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GM 3.09

-0.09 -2.83%
Volume: 42,189,358
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GOOG 297.42

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Volume: 8,348,022
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MAT 12.77

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Volume: 5,552,575
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NEM 23.65

+0.30 +1.28%
Volume: 7,169,892
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NOV 25.35

+0.59 +2.38%
Volume: 8,512,458
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PPC 0.33

+0.02 +6.45%
Volume: 1,811,530
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RIMM 47.25

+5.01 +11.86%
Volume: 41,151,558
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S 2.15

-0.03 -1.38%
Volume: 40,041,246
Track S

SCI 5.65

-0.20 -3.42%
Volume: 1,687,052
Track SCI

STI 31.12

-0.44 -1.39%
Volume: 8,460,518
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STT 35.76

-1.16 -3.14%
Volume: 6,716,190
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TGT 30.06

-1.62 -5.11%
Volume: 20,322,359
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WYE 35.50

+2.61 +7.94%
Volume: 15,162,144
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