BOSTON ( 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 ( NEM) and communications company CenturyLink ( 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 ( NVS) and Sanofi-Aventis ( SNY), respectively, earlier this year.
|Steven A. Cohen (SAC Capital)|
10. Tenaris ( TS) Company Profile: Tenaris makes seamless steel-pipe products, including casing, tubing and line pipe used in the energy and industrial industries. Cohen's Investment: SAC Capital established a new position in Tenaris by buying up 262,000 shares of the company, which had a market value of roughly $13 million as of March 31. Tenaris shares are down 2% this year, but are up more than 10% since March 17. In May, the Luxembourg-based company said revenue climbed 42% in the first quarter to $2.32 billion, although net income of $324 million was below Wall Street's expectations.