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 194.34

+0.31 +0.16%
Volume: 10,542,477
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AMP 37.83

+0.60 +1.61%
Volume: 2,623,862
Track AMP

AVN 27.82

+0.00 +0.00%
Volume: 8,350
Track AVN

AVR 0.16

+0.00 +0.00%
Volume: 6,904,472
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DAL 7.79

+0.46 +6.28%
Volume: 9,312,552
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DELL 14.86

-0.05 -0.34%
Volume: 11,775,809
Track DELL

DYN 1.93

-0.12 -5.85%
Volume: 13,992,330
Track DYN

EL 46.75

+0.58 +1.26%
Volume: 3,200,646
Track EL

FITB 9.17

-0.05 -0.54%
Volume: 13,345,688
Track FITB

GM 1.43

+0.00 +0.00%
Volume: 341,588,570
Track GM

GOOG 551.10

+2.45 +0.45%
Volume: 1,826,705
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MAT 19.74

+0.20 +1.02%
Volume: 1,943,732
Track MAT

NEM 49.04

+1.79 +3.79%
Volume: 11,746,763
Track NEM

NOV 43.68

+0.14 +0.32%
Volume: 4,143,484
Track NOV

PPC 0.62

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

RIMM 58.72

+0.93 +1.61%
Volume: 14,975,852
Track RIMM

S 2.85

+0.02 +0.71%
Volume: 36,594,012
Track S

SCI 7.55

+0.04 +0.53%
Volume: 1,604,776
Track SCI

STI 19.93

-0.34 -1.68%
Volume: 5,909,741
Track STI

STT 41.45

-1.36 -3.18%
Volume: 6,321,935
Track STT

TGT 49.70

+0.00 +0.00%
Volume: 5,293,301
Track TGT

WYE 50.39

+0.00 +0.00%
Volume: 50,253,011
Track WYE


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