BOSTON (TheStreet) -- Steven Cohen's SAC Capital, which has suffered catastrophic losses in biotechnology firm Dendreon (DNDN), made more mundane new purchases in the second quarter, including tractor maker Deere (DE).Cohen's Stamford, Conn.-based hedge fund 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 usually earns more than $1 billion a year.
|Steven A. Cohen (SAC Capital)|
10. Gen-Probe ( GPRO) Company Profile: Gen-Probe develops nucleic acid tests used to diagnose human diseases and to screen donated human blood. Cohen's Investment: SAC Capital established a new position in Gen-Probe by buying up 268,000 shares of the company, which had a market value of roughly $18 million as of June 30. Share Price Performance: The stock rose to a 52-week high of $86.96 in May but has been a losing investment since Cohen reported a stake. Shares of Gen-Probe are down nearly 12% since July 1.
8. Diamond Foods ( DMND) Company Profile: Diamond Foods makes nuts and snack products. Cohen's Investment: SAC Capital purchased 286,000 shares of Diamond Foods during the quarter, worth almost $22 million as of June 30. Share Price Performance: Diamond Foods has been a very successful investment this year, rallying 36% in 2011. However, since Cohen's ownership disclosure as of June 30, shares of Diamond Foods have tumbled 5%.
6. Meritor ( MTOR) Company Profile: Meritor is a global supplier of drivetrain and braking products for cars. Cohen's Investment: SAC Capital purchased 1.5 million shares of Meritor in the second quarter, which carried a market value of $24 million as of June 30. Share Price Performance: If Dendreon's 70% drop is the most painful investment for Cohen, Meritor likely ranks a close second. Shares of the company have plunged more than 50% this year, and more than 40% since June 30.
4. Buenaventura ( BVN) Company Profile: Based in Lima, Peru, Buenaventura is a precious-metal explorer and miner. The company processes gold, silver and other metals. Cohen's Investment: SAC Capital bought up 783,000 shares of Buenaventura during the second quarter, which carried a market value of $29 million as of June 30. Share Price Performance: Shares of Buenaventura are down 13% this year but, depending on when Cohen bought the stock in the second quarter, he could be holding a winner. After hitting a low of $35.33 in early June, shares have rallied almost 20% to $42.44.
2. Grifols SA ( GRFS) Company Profile: Grifols makes plasma derivatives, IV therapy, enteral nutrition, diagnostic systems and medical materials. Cohen's Investment: SAC Capital snatched up 8.7 million shares of Grifols during the second quarter, a position that had a market value of $65 million as of June 30. Share Price Performance: Grifols is another ugly stock chart for Cohen and SAC Capital. Shares are down nearly 6% since the stock's debut in early June. After notching a high of $8.50 in late July, the stock has plunged as low as $6.33 earlier this month.