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.
8. Titan International ( TWI) Company Profile: Titan International manufactures both wheels and tires for original equipment manufacturers and aftermarket customers in the agricultural, earthmoving and construction and consumer markets. Cohen's Investment: SAC Capital purchased 742,000 shares of Titan International during the quarter, worth almost $20 million as of March 31. Titan International shares have easily outpaced the broader market this year, rallying more than 40%. In April, Titan acquired Goodyear's European and Latin American farm tire businesses for nearly $100 million. Later in the month, the company reported a first-quarter loss of $3 million, even as revenue surged 43% to $280 million. Excluding special items, Titan would have earned $18.7 million in the quarter.
6. Staples ( SPLS) Company Profile: Staples is the retailer of office products in 26 countries worldwide. Cohen's Investment: SAC Capital purchased 1.4 million shares of the retailer during the first quarter, which carried a market value of $27.5 million as of March 31. Perhaps Cohen views Staples as a value play, as the stock is down more than 12% this year even as the S&P 500 has climbed more than 5%. In March, Staples raised its dividend by 11%; the stock now yields 2%. That same month, the Framingham, Mass.-based company said it earned $274.7 million in the first quarter, an increase of 17% over the year-ago period.
4. Swift Transportation ( SWFT) Company Profile: Swift Transportation offers transportation services that include dry van, dedicated, temperature controlled, cross border, and port drayage operations. Cohen's Investment: SAC Capital bought up 2.6 million shares of Swift Transportation during the first quarter, which carried a market value of $38 million as of March 31. Swift Transportation, which was taken private by founder Jerry Moyes in 2007, went public again in December 2010 after the company offered 73.3 million shares priced at $11. Previously, Swift was expected to offer shares in a range of $13 to $15. Shares of Swift Transportation are up more than 5% this year to $13.22.
2. HCA Holdings ( HCA) Company Profile: HCA Holdings is the largest private hospital company in the U.S. Cohen's Investment: SAC Capital snatched up 1.4 million shares of HCA Holdings during the first quarter, a position that had a market value of $48 million as of March 31. HCA Holdings, which was acquired by an investor group in 2006, went public in March in a $3.8 billion initial public offering. HCA offered more than 126 million shares priced at $30. The stock currently trades for $34.25.