A Look Into Billionaire Steve Cohen’s Major Q4 Additions

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Point72 increased its stake in Williams Companies Inc (NYSE:WMBby 210% in the fourth quarter, reporting a holding of 7.11 million shares worth $221.59 million as of the end of December. Stephen Mandel’s Lone Pine Capital was the biggest buyer of the stock during Q4, as the fund doubled its stake to 16.32 million shares. Williams Companies Inc. (NYSE:WMB) is an energy infrastructure company that owns substantial gas pipeline assets in the U.S and Canada. The company has given a whopping 81% return to shareholders over the last year, though the stock has pulled back somewhat in 2017. The $23 billion company should perform well thanks to increasing oil and gas production in the U.S, due to a recovery in oil prices as well as favorable government policies. At the end of the fourth quarter, 61 funds in our system held $3.2 billion worth of Williams Companies Inc. (NYSE:WMB) shares, versus 66 funds holding shares worth $4.58 billion at the end of the third quarter.

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Point72 Asset Management added a 2.84 million-share stake in telecom giant Verizon Communications Inc. (NYSE:VZ) to its portfolio in Q4, valued at $151.53 million as of December 31. On the other hand, Warren Buffett’s Berkshire Hathaway sold off almost its entire position of 15 million shares of Verizon Communications Inc. (NYSE:VZ) in the final quarter of 2016, holding a mere 928 shares at the end of December. During the quarter, Verizon Communications Inc. (NYSE:VZ) added 591,000 subscribers to a total of 114.2 million subscribers. For the fourth quarter, Verizon reported earnings of $0.86 per share, lower than the consensus estimate of $0.89. Its revenue of $32.34 billion beat estimates of $32.09 billion, driven by lackluster wireless margins. The company recently announced that it would start selling an unlimited data plan for $80 per month, which is the first time that it has offered such a service since 2011. The number of funds in our system long Verizon Communications Inc. (NYSE:VZ) inched up by one to 55 during the fourth quarter.

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Lastly, Steven Cohen’s family office bought 472,200 shares of Ulta Beauty Inc. (NASDAQ:ULTA) in the quarter, increasing its holding to 481,200 shares valued at $122.67 million as of the end of December. Lone Pine Capital remains one of the largest owners of Ulta Beauty Inc. (NASDAQ:ULTA), with a 1.79 million-share stake, despite selling 1.15 million shares during the fourth quarter. Ulta Beauty Inc. (NASDAQ:ULTA) is a beauty retailer that operates around 970 retail stores across the 48 contiguous U.S states. It sells 20,000 products from over 500 beauty brands and has its own private label. The company has given a stunning return of 83% over the last year and its market value has reached an all-time high of $17.3 billion. On January 29, the company announced that it would form a new holding company, Ulta Beauty Inc., into which all of its outstanding shares would automatically convert. It will continue to trade under the “ULTA” ticker. At the end of the fourth quarter, $1.93 billion in ULTA shares were held by 40 funds that we track, down from $2.04 billion in shares a quarter earlier.

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Disclosure: None

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