Market Overview

Steven Cohen Is Putting His Own Money Down In EQT, Advance Auto Parts & Visteon, Among Others


Last year, Steven Cohen closed his legendary hedge fund SAC Capital, and created a new group of funds called Point72 Asset Management to manage his personal assets, as well as those of certain eligible employees.

Same as in the last quarter, the portfolio is highly diversified, but has a slight focus on consumer discretionary (20 percent) and energy (17 percent) stocks.

Related Link: What Steven Cohen Is Doing With His Personal Wealth

Below are a few interesting positions from this equity portfolio worth roughly $14.67 billion.

Remarkable Positions

Leaving options aside, the largest new position was the one initiated at EQT Corporation (NYSE: EQT), a $13.8 billion market cap energy company. This 2,280,200 shares stake is the fourth most valuable in the equity portfolio; valued at more than $188 million, it accounts for 1.29 percent of Cohen’s total holdings.

Another big newcomer was Advance Auto Parts, Inc. (NYSE: AAP). Between January and March, inclusive, the fund purchased 850,000 shares of the company, worth approximately $127 million.

Only one long equity position (again, leaving options aside) is more valuable than the one at EQT: Visteon Corp (NYSE: VC). After increasing his involvement by 78 percent over the quarter, Cohen disclosed ownership of 2,154,050 shares, worth about $207 million.

Related Link: 13F Season: A Look At Warren Buffett's Q1 Moves

Another company that felt Point72’s bullishness is Suncor Energy Inc. (USA) (NYSE: SU), which saw the fund acquire 5,870,359 shares over the quarter, taking its holdings to 6,459,700 shares, worth $188 million.

It seems like the firm is also quite into dollar stores, as it increased its exposure to Dollar Tree, Inc. (NASDAQ: DLTR) and Dollar General Corp. (NYSE: DG). After almost tripling its stake, the fund owns 2,045,488 shares of Dollar Tree. Dollar General saw an even larger increase: 490 percent (to 2,080,051 shares).

On the opposite sidewalk, Point72 closed out its stakes in 257 companies, including Home Depot Inc (NYSE: HD) and Broadcom Corporation

(NASDAQ: BRCM), of which it held 766,100 shares and 1,813,600 shares, correspondingly.

Posted-In: 13F Point72 Point72 Asset ManagementLong Ideas Hedge Funds Tech Trading Ideas General


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