Market Overview

10 Stocks Billionaire Steven Cohen Is Buying


(TheStreet) -- Steven Cohen's SAC Capital, known for its trading-oriented style to investing, made big bets in the first quarter while adding to key positions in Newmont Mining (NYSE: NEM) and communications company CenturyLink (NYSE: CTL).

Cohen's Stamford, Conn.-based hedge fund firm, which counted more than 1,500 equity holdings valued at $13 billion at the end of March, was founded in 1992 and has generated average annual returns of about 30%, according to The Wall Street Journal. As the largest investor in his own funds, Cohen routinely earns more than $1 billion a year. Some of his biggest bets last year were in pharmaceutical stocks Alcon and Genzyme. Both companies were acquired by Novartis (NYSE: NVS) and Sanofi-Aventis (NYSE: SNY), respectively, earlier this year.

At the end of the first quarter, SAC Capital counted Genzyme, Dendreon (NASDAQ: DNDN) and Newmont Mining as its top holdings, each position with a market value of at least $251 million. Other big positions include Express Scripts (NASDAQ: ESRX), Weight Watchers (NYSE: WTW) and Murphy Oil (NYSE: MUR).

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