New Picks of Steve Cohen’s SAC Capital Advisors

Hedge funds have been busy in their hunt for profitable stock investments, with several funds making notable additions to their equity portfolio. In its latest 13F, Steven Cohen’s SAC Capital Advisors LP revealed his recent trades out of which we have picked some of the most notable new positions initiated during the last three months of 2013.

SAC CAPITAL ADVISORS

The total value of the equity portfolio of SAC Capital declined to $17.22 billion from $18.48 billion in the third quarter of 2013. The fund added over 400 companies to its equity portfolio.

Over the fourth quarter of 2013, SAC Capital Advisors bought 2.51 million Class A shares of Twenty-First Century Fox Inc (NASDAQ:FOXA), worth $9.81 million. The diversified global media and entertainment giant reported 15% increase in net sales to $8.16 billion compared to the year ago period.

Earlier this year, the New York based company inked an agreement to acquire Yankees Entertainment and Sports Network. This new development would raise the company stake to 80% in the regional sports network from the 49% held currently.

Another remarkable addition to SAC Capital’s equity portfolio is ARRIS Group, Inc. (NASDAQ:ARRS), global leader in IP, video and broadband technology innovation. Steven Cohen’s SAC Capital now owns 2.31 million shares of the company. The reported value of the holdings is $56.35 million.

Next in line is Foot Locker, Inc., (NYSE:FL), with a market cap of $5.71 billion, which has drawn Steven Cohen’s attention. SAC Capital currently owns 1.20 million shares in the global retailer of athletically inspired shoes and apparel. The reported value of the holdings is equivalent to $49.75 million.

Recently, the New York based specialty retailer declared quarterly cash dividend of $0.22 per share. The dividend is due for payment on May 22, 2014 as disclosed in the company’s recent press release.

Disclosure: none

Recommended Reading:

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Luxor Capital Initiates Stakes in Nexstar Broadcasting Group, Inc. (NXST) and CBL & Associates Properties, Inc. (CBL)

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