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 Forbes as 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. In December 2009, Steven Cohen and his brother Donald were sued by Steven’s ex-wife Patricia Cohen for racketeering and insider trading charges. On March 30, 2011, the United States District Court in Lower Manhattan dismissed the case, saying Ms. Cohen’s claims amounted to little more than speculation and rumor.
In addition to being a well-renowned businessman, Steve Cohen began collecting art in 2000, and over the past several years has become a prominent collector, appearing on Art News magazine’s “Top 10″ list of biggest-spending art collectors around the world each year since 2002, and Forbes magazine’s “Top Billionaire Art Collectors” list in 2005. He has a private museum on his property for his personal art collection.
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.
If you are looking for new investment ideas and would like to follow a Investment Guru like Steve Cohen, below listed are his newly acquired positions. The list consists of recent hot IPO’s like Michael Kors (KORS) and old school names like Reliance Steel (RS).
Below are the Top new buys of SAC Capital:
Interactive Chart: Use the Compar-O-Matic to compare analyst ratings for the stocks mentioned below:
1. Reliance Steel & Aluminum Co. (RS, Earnings, Analysts, Financials): Operates metals service centers. Market cap at $3.74B, most recent closing price at $49.79.
2. Michael Kors Holdings Ltd. (KORS, Earnings, Analysts, Financials): A designer, marketer, distributor and retailer of women’s apparel and accessories and men’s apparel bearing the Michael Kors name and MICHAEL KORS, MICHAEL MICHAEL KORS, KORS MICHAEL KORS and various other related logos. Market cap at $8.1B, most recent closing price at $40.63.
3. Carter’s, Inc. (CRI, Earnings, Analysts, Financials): Designs, sources, and markets branded children’s wear. Market cap at $3.18B, most recent closing price at $53.78.
4. Charter Communications Inc. (CHTR, Earnings, Analysts, Financials): Provides cable services to residential and commercial customers in the United States. Market cap at $7.39B, most recent closing price at $72.95.
5. Shaw Group Inc. (SHAW, Earnings, Analysts, Financials): Provides technology, engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation, and facilities management services to multinational and national oil companies, industrial corporations, regulated utilities, independent and merchant power producers, and government agencies worldwide. Market cap at $1.7 B, most recent closing price at $26.
6. Comverse Technology Inc. (CMVT, Earnings, Analysts, Financials): A holding company and conducts business through its subsidiaries, principally, its wholly owned subsidiary, Comverse, Inc., and its majority owned subsidiaries, Verint Systems and Starhome B.V. Market cap at $1.18B, most recent closing price at $5.42.
7. MDC Holdings Inc. (MDC, Earnings, Analysts, Financials): Engages in homebuilding and financial services businesses in the United States. Market cap at $1.5B, most recent closing price at $31.15.
8. Dunkin’ Brands Group, Inc. (DNKN, Earnings, Analysts, Financials): Operates, and franchises quick service restaurants worldwide. Market cap at $4.12B, most recent closing price at $34.
9. Wolverine World Wide Inc. (WWW, Earnings, Analysts, Financials): Engages in manufacturing, sourcing, marketing, licensing, and distributing footwear, apparel, and accessories to the retail sector primarily in the United States, Europe, and Canada. Market cap at $2.11B, most recent closing price at $42.24.
10. TripAdvisor Inc. (TRIP, Earnings, Analysts, Financials): An online travel research company, enabling users to plan and have a trip. Market cap at $6.2B, most recent closing price at $45.42.
11. Texas Roadhouse Inc. (TXRH, Earnings, Analysts, Financials): Operates a full-service, casual dining restaurant chain in the United States. Market cap at $1.4B, most recent closing price at $18.47.
12. Take-Two Interactive Software Inc. (TTWO, Earnings, Analysts, Financials): Develops, and distributes interactive entertainment software, hardware, and accessories worldwide. Market cap at $840M, most recent closing price at $9.2.
Written by Sabina Bhatia
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Analyze These Ideas: Getting Started
- Read descriptions for all companies mentioned
- Access a performance overview for all stocks in the list
- Compare analyst ratings for the companies mentioned
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Dig Deeper: Access Company Snapshots, Charts, Filings
- Reliance Steel & Aluminum Co. (RS, Chart, Download SEC Filings)
- Michael Kors Holdings Ltd. (KORS, Chart, Download SEC Filings)
- Carter’s, Inc. (CRI, Chart, Download SEC Filings)
- Charter Communications Inc. (CHTR, Chart, Download SEC Filings)
- Shaw Group Inc. (SHAW, Chart, Download SEC Filings)
- Comverse Technology Inc. (CMVT, Chart, Download SEC Filings)
- MDC Holdings Inc. (MDC, Chart, Download SEC Filings)
- Dunkin’ Brands Group, Inc. (DNKN, Chart, Download SEC Filings)
- Wolverine World Wide Inc. (WWW, Chart, Download SEC Filings)
- TripAdvisor Inc. (TRIP, Chart, Download SEC Filings)
- Texas Roadhouse Inc. (TXRH, Chart, Download SEC Filings)
- Take-Two Interactive Software Inc. (TTWO, Chart, Download SEC Filings)
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