Insights into the Billionaire's Latest Portfolio Adjustments
Steven Cohen (Trades, Portfolio), the Chairman and CEO of Point72, a prominent investment firm, has made significant changes to his investment portfolio in the second quarter of 2024. Known for his sharp investment acumen, Cohen founded S.A.C. Capital Advisors in 1992, transforming it into Point72 by 2014. A Wharton School graduate, Cohen's career spans over three decades, marked by ventures into global capital and private equity strategies, and ownership of the New York Mets. His investment strategy primarily revolves around long/short equity, employing a rigorous bottom-up research process to drive macro investment decisions.
Summary of New Buys
Steven Cohen (Trades, Portfolio)'s recent acquisitions include 371 new stocks. Noteworthy additions include:
- Apple Inc (AAPL, Financial), purchasing 1,573,924 shares, making up 0.88% of the portfolio, valued at $331.5 million.
- Comcast Corp (CMCSA, Financial), with 5,740,384 shares, representing 0.6% of the portfolio, valued at $224.79 million.
- ConocoPhillips (COP, Financial), acquiring 1,974,900 shares, also accounting for 0.6% of the portfolio, with a total value of $225.89 million.
Key Position Increases
Significant enhancements were made to existing holdings, including:
- Dell Technologies Inc (DELL, Financial), with an additional 2,253,113 shares, bringing the total to 2,388,359 shares. This represents a 1,665.94% increase in shares, impacting the portfolio by 0.82%, and valued at $329.38 million.
- Autodesk Inc (ADSK, Financial), increasing by 664,939 shares to a total of 843,040 shares, marking a 373.35% rise, valued at $208.61 million.
Summary of Sold Out Positions
Steven Cohen (Trades, Portfolio) exited 611 holdings, including:
- Microsoft Corp (MSFT, Financial), selling all 1,023,260 shares, impacting the portfolio by -1.06%.
- Boeing Co (BA, Financial), liquidating 1,347,586 shares, resulting in a -0.64% portfolio impact.
Key Position Reductions
Reductions were also prominent in Cohen's Q2 portfolio adjustments:
- Broadcom Inc (AVGO, Financial), reduced by 317,378 shares, a -67.47% decrease, impacting the portfolio by -1.03%. The stock traded at an average price of $140.14 during the quarter, with a 14.63% return over the past three months and 42.32% year-to-date.
- AT&T Inc (T, Financial), reduced by 20,813,692 shares, an -85.39% decrease, impacting the portfolio by -0.9%. The stock's average trading price was $17.39, returning 15.14% over the past three months and 22.61% year-to-date.
Portfolio Overview
As of the second quarter of 2024, Steven Cohen (Trades, Portfolio)'s portfolio encompasses 1,747 stocks. Top holdings include 1.62% in Amazon.com Inc (AMZN, Financial), 0.88% in Apple Inc (AAPL, Financial), and 0.87% in Dell Technologies Inc (DELL, Financial). The portfolio is diversified across all 11 industries, with significant concentrations in Technology, Healthcare, and Consumer Cyclical sectors.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
