BOSTON ( TheStreet) -- Steven Cohen's SAC Capital, which has suffered catastrophic losses in biotechnology firm Dendreon ( DNDN), made more than 300 new bets in the third quarter, including the popular SPDR Gold Trust ETF ( GLD) and industrial gas supplier Praxair ( PX).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. Colgate-Palmolive ( CL) Company Profile: Colgate-Palmolive is a consumer-products company. It has market positions in six product categories: consumer batteries, pet supplies, electric shaving & grooming, electric personal care, portable lighting & home and garden control products. Its brands include Colgate, Palmolive, Ajax, Irish Spring, Murphy Oil and Speed Stick. SAC Capital's Investment: Cohen's fund bought 66,000 shares of Colgate-Palmolive in the quarter, which had a market value of $5.9 million as of Sept. 30. Share Price Performance: Colgate-Palmolive shares are up a solid 10% this year, although the stock is flat since Sept. 30.
8. Sanmina-SCI ( SANM) Company Profile: Sanmina-SCI focuses on engineering and fabricating complex components, such as printed circuit boards, enclosures, plastics and cables. SAC Capital's Investment: Cohen purchased nearly 1 million shares of Sanmina-SCI in the third quarter, a position that carried a market value of $6.5 million as of Sept. 30. Share Price Performance: The stock is down 26% this year, which makes the chart look bad overall. However, Sanmina-SCI has rallied more than 26% since Sept. 30.
6. First Solar ( FSLR) Company Profile: First Solar makes solar electric power modules using a proprietary thin-film semiconductor technology. SAC Capital's Investment: The hedge fund owned about 195,000 shares of the solar company as of Sept. 30. The position was worth $12 million at the end of the third quarter. Share Price Performance: First Solar shares have tumbled 65% this year along with many other solar stocks. Since Sept. 30, the stock has fallen almost 30%, which was sparked by the CEO's abrupt departure in October and the company's weak outlook.
4. Big Lots ( BIG) Company Profile: Big Lots is a closeout retailer in the U.S. SAC Capital's Investment: Cohen's fund picked up about 629,000 shares of the discount retailer in the third quarter. The stake was worth almost $22 million as of Sept. 30. Share Price Performance: Shares of Big Lots have rallied more than 30% this year. Since Sept. 30, the stock is up 17%.
2. Marathon Petroleum ( MPC) Company Profile: Marathon Petroleum is a supplier of gasoline and distillates to resellers and consumers. Its refining, marketing and transportation operations are concentrated primarily in the Midwest, Gulf Coast and Southeast regions of the U.S. SAC Capital's Investment: The hedge fund purchased 3.4 million shares of Marathon Petroleum last quarter. The stake was worth $91 million as of Sept. 30. Share Price Performance: Marathon Petroleum shares have fallen 13% since its July split from its parent company. However, shares have rallied a whopping 35% since the end of the third quarter.