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