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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Stocks Mentioned

AAPL 91.01

-2.01 -2.16%
Volume: 27,040,556
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AMP 23.00

-2.10 -8.37%
Volume: 3,699,230
Track AMP

AVN 18.15

-0.39 -2.10%
Volume: 1,450
Track AVN

AVR 0.59

-0.05 -7.81%
Volume: 1,008,638
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DAL 11.88

-0.50 -4.04%
Volume: 12,449,925
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DELL 11.15

+0.10 +0.90%
Volume: 30,496,029
Track DELL

DYN 2.59

-0.04 -1.52%
Volume: 13,549,615
Track DYN

EL 30.91

-0.27 -0.87%
Volume: 3,033,611
Track EL

FITB 7.93

-0.52 -6.15%
Volume: 7,707,557
Track FITB

GM 4.13

+0.19 +4.82%
Volume: 26,682,355
Track GM

GOOG 322.01

-12.05 -3.61%
Volume: 4,495,195
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MAT 16.02

-0.28 -1.72%
Volume: 2,965,308
Track MAT

NEM 35.11

-4.44 -11.23%
Volume: 11,639,176
Track NEM

NOV 29.08

-1.32 -4.34%
Volume: 8,919,534
Track NOV

PPC 0.62

+0.00 +0.00%
Volume: 2,352,281
Track PPC

RIMM 46.69

+0.08 +0.17%
Volume: 24,569,422
Track RIMM

S 2.38

+0.06 +2.59%
Volume: 37,296,738
Track S

SCI 5.28

+0.11 +2.13%
Volume: 1,686,792
Track SCI

STI 26.68

-1.62 -5.72%
Volume: 4,000,004
Track STI

STT 42.22

-2.05 -4.63%
Volume: 7,478,462
Track STT

TGT 37.01

-1.10 -2.89%
Volume: 10,514,763
Track TGT

WYE 38.18

-0.38 -0.99%
Volume: 7,531,785
Track WYE


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