Insight into the Billionaire's Latest Trading Activities and 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 third quarter of 2024. Known for his strategic investment decisions, Cohen has a rich history in the financial markets, starting his career at Gruntal & Co. and later founding S.A.C. Capital Advisors. His firm, Point72, focuses on a long/short equity strategy, utilizing a multi-manager platform to capitalize on deep sector-specific research. Beyond finance, Cohen is also a noted philanthropist and the owner of the New York Mets.
Summary of New Buys
During the third quarter, Steven Cohen (Trades, Portfolio) made substantial additions to his portfolio, incorporating 440 new stocks. Noteworthy new positions include:
- Alphabet Inc (GOOGL, Financial) with 1,159,225 shares, representing 0.5% of the portfolio and valued at $192.26 million.
- Canadian National Railway Co (CNI, Financial) with 1,364,960 shares, making up about 0.41% of the portfolio, valued at $159.91 million.
- Microsoft Corp (MSFT, Financial) with 370,630 shares, also accounting for 0.41% of the portfolio, with a total value of $159.48 million.
Key Position Increases
Steven Cohen (Trades, Portfolio) also increased his stakes in several key holdings, including:
- Shell PLC (SHEL, Financial), where he added 3,614,885 shares, bringing his total to 5,474,461 shares. This increase of 194.39% in share count had a 0.61% impact on his current portfolio, totaling $361.04 million.
- NVIDIA Corp (NVDA, Financial), with an additional 1,574,796 shares, bringing the total to 3,689,814 shares, valued at $448.09 million.
Summary of Sold Out Positions
In a significant portfolio adjustment, Steven Cohen (Trades, Portfolio) exited several positions entirely in Q3 2024:
- Amazon.com Inc (AMZN, Financial), where he sold all 3,163,439 shares, impacting the portfolio by -1.62%.
- Apple Inc (AAPL, Financial), with all 1,573,924 shares liquidated, resulting in a -0.88% portfolio impact.
Key Position Reductions
Reductions were also prominent in Cohen's Q3 2024 strategy, with major cuts in:
- Broadcom Inc (AVGO, Financial), reducing his stake by 1,271,766 shares, a -83.13% decrease, impacting the portfolio by -0.54%. The stock had an average price of $160.32 during the quarter.
- Royal Caribbean Group (RCL, Financial), cutting down by 1,077,660 shares, a -99.06% reduction, impacting the portfolio by -0.46%. The stock's average price was $162.04 during the quarter.
Portfolio Overview
As of the third quarter of 2024, Steven Cohen (Trades, Portfolio)'s portfolio included 1,889 stocks. Top holdings were 1.16% in NVIDIA Corp (NVDA, Financial), 0.93% in Shell PLC (SHEL, Financial), and 0.87% in Arista Networks Inc (ANET, Financial). The portfolio is diversified across all 11 industries, with significant concentrations in Technology and Healthcare.
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.
