Top Holdings of Steve Cohen, the King of Hedge Funds

Steven “Steve” A. Cohen (born 11 June 1956) is an American hedge fund manager. He is the founder of SAC Capital Advisors, a Stamford, Connecticut-based hedge fund focusing primarily on equity market strategies.

He has an estimated net worth of $8.3 billion as of March 2012, ranked by Forbesas the 35th richest man in America. Born in Great Neck, NY, he took a liking to poker as a high school student, often betting his own money in tournaments. Cohen credits the game with teaching him “how to take risks.” While in school, a friend helped him open a brokerage account with $1,000 of his tuition money.

SAC began as a trading-oriented firm, focused on trading liquid, large cap stocks. Over the years, they have branched out into fundamental and quantitative strategies.The group manages $14 billion in assets across four independent portfolios, each with a distinct strategy. According to Bloomberg BusinessWeek magazine, SAC Capital Advisors routinely accounts for as much as 3% of the NYSE’s average daily trading, plus up to 1% of the NASDAQ’s.

Steve Cohen, today at 56 years of age, is still a household name. He recently purchased a 4% stake in the New York Mets for $20 million and is believed to be trying to buy the Los Angeles Dodgers.

His $14 billion hedge fund firm, SAC Capital, has been hit by a series of legal scrutiny. In February, 2012 for the first time, federal prosecutors indicted Jon Horvath, a tech analyst at SAC’s Sigma Capital for insider-trading. Steve continues to focus on his funds performance which was up 1.4% in Q1-2012.

In addition to the top holdings mentioned below, SAC aslso holds significant positions in Spdr S&P 500 ETF Trust (SPY) and powershares Qqq Trust (QQQQ).

Below are his Top 10 Holdings of SAC Capital ranked by percentage of portfolio:

Top NEW holdings can be found here.

1. Apple Inc. (AAPL, Earnings, Analysts, Financials): Designs, manufactures, and markets personal computers, mobile communication and media devices, and portable digital music players, as well as sells related software, services, peripherals, networking solutions, and third-party digital content and applications worldwide. Market cap at $567.5B, most recent closing price at $606.91.

2. Gilead Sciences Inc. (GILD, Earnings, Analysts, Financials): Engages in the discovery, development, and commercialization of therapeutics for the treatment of life threatening diseases worldwide. Market cap at $39.34B, most recent closing price at $51.94.

3. Dollar General Corporation (DG, Earnings, Analysts, Financials): Operates as a discount retailer of general merchandise in the southern, southwestern, midwestern, and eastern United States. Market cap at $18.15B, most recent closing price at $54.61.

4. Tyco International Ltd. (TYC, Earnings, Analysts, Financials): Provides security products and services, fire protection and detection products and services, valves and controls, and other industrial products to customers worldwide. Market cap at $24.13B, most recent closing price at $52.13.

5. Illinois Tool Works Inc. (ITW, Earnings, Analysts, Financials): Manufactures a range of industrial products and equipment worldwide. Market cap at $24.08B, most recent closing price at $50.45.

6. Boeing Co. (BA, Earnings, Analysts, Financials): Engages in the design, development, manufacture, sale, and support of commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. Market cap at $54.66B, most recent closing price at $72.97.

7. Weatherford International Ltd. (WFT, Earnings, Analysts, Financials): Provides equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells to independent oil and natural gas producing companies worldwide. Market cap at $9.11B, most recent closing price at $11.99.

8. Baidu, Inc. (BIDU, Earnings, Analysts, Financials): Provides Internet search services. Market cap at $37.49B, most recent closing price at $107.35.

9. Biogen Idec Inc. (BIIB, Earnings, Analysts, Financials): Develops, manufactures, and markets therapeutics in the areas of neurology, immunology, hemophilia, and oncology in the United States and internationally. Market cap at $34.79B, most recent closing price at $145.22.

10. Ensco plc (ESV, Earnings, Analysts, Financials): Provides offshore contract drilling services to the oil and gas industry. Market cap at $11.36B, most recent closing price at $49.10.

Written by Sabina Bhatia

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