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 82.58

+2.09 +2.60%
Volume: 56,054,896
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AMP 12.37

-0.55 -4.26%
Volume: 6,927,017
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AVN 16.23

-0.08 -0.49%
Volume: 14,000
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AVR 0.43

-0.20 -31.75%
Volume: 591,686
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DAL 6.82

-0.20 -2.85%
Volume: 14,950,599
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DELL 9.30

-0.51 -5.20%
Volume: 58,475,583
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DYN 1.77

+0.26 +17.22%
Volume: 12,560,889
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EL 25.65

+0.93 +3.76%
Volume: 4,223,612
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FITB 7.49

-0.22 -2.85%
Volume: 18,004,697
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GM 3.06

+0.18 +6.25%
Volume: 29,700,247
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GOOG 262.43

+2.87 +1.11%
Volume: 10,246,238
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MAT 11.75

+0.33 +2.89%
Volume: 6,130,155
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NEM 28.79

+5.79 +25.17%
Volume: 19,539,671
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NOV 21.52

+3.66 +20.49%
Volume: 15,841,116
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PPC 0.30

+0.02 +7.14%
Volume: 1,709,178
Track PPC

RIMM 44.80

+3.28 +7.90%
Volume: 31,459,698
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S 1.71

+0.34 +24.82%
Volume: 64,587,685
Track S

SCI 4.52

+0.21 +4.87%
Volume: 2,476,017
Track SCI

STI 22.45

-2.16 -8.78%
Volume: 20,614,271
Track STI

STT 31.78

+3.09 +10.77%
Volume: 8,064,620
Track STT

TGT 28.08

+0.08 +0.29%
Volume: 22,219,131
Track TGT

WYE 33.91

+1.88 +5.87%
Volume: 14,176,008
Track WYE


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