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 199.00

-1.59 -0.79%
Volume: 7,451,012
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AMP 37.36

+0.31 +0.84%
Volume: 764,583
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 8.06

+0.15 +1.90%
Volume: 4,610,002
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DELL 14.07

-0.07 -0.50%
Volume: 6,389,645
Track DELL

DYN 1.79

-0.03 -1.65%
Volume: 4,434,780
Track DYN

EL 46.67

-0.32 -0.68%
Volume: 552,042
Track EL

FITB 9.93

+0.36 +3.76%
Volume: 7,864,101
Track FITB

GM 1.43

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

GOOG 578.57

-1.19 -0.21%
Volume: 730,912
Track GOOG

MAT 19.43

-0.14 -0.72%
Volume: 860,668
Track MAT

NEM 53.52

+0.17 +0.32%
Volume: 2,688,190
Track NEM

NOV 42.56

-0.74 -1.71%
Volume: 1,997,569
Track NOV

PPC 0.62

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

RIMM 58.07

-0.07 -0.12%
Volume: 7,344,822
Track RIMM

S 3.69

-0.06 -1.60%
Volume: 18,911,570
Track S

SCI 7.51

-0.02 -0.27%
Volume: 499,496
Track SCI

STI 22.92

+0.33 +1.46%
Volume: 2,040,551
Track STI

STT 40.26

+0.06 +0.15%
Volume: 1,793,067
Track STT

TGT 46.09

-1.61 -3.38%
Volume: 5,717,280
Track TGT

WYE 50.39

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


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