Yahoo Finance Steven Cohen's Strategic Emphasis on Broadcom Inc in Q1 2024
Insight into Cohen's Latest 13F Filings and Investment Adjustments
Steven Cohen (Trades, Portfolio), the Chairman and CEO of Point72 Asset Management, has made significant portfolio adjustments in the first quarter of 2024, as revealed in the latest 13F filing. With a robust background in economics from The Wharton School and a deep-rooted career in investment, Cohen continues to influence the financial markets through strategic stock selections and adjustments. His firm, known for its long/short equity strategy, focuses on a fundamental, bottom-up research process to drive its investment decisions.
Summary of New Buys
Steven Cohen (Trades, Portfolio)'s portfolio saw the addition of 471 new stocks in this quarter. Noteworthy new positions include:
Broadcom Inc (NASDAQ:AVGO), with 470,365 shares, making up 1.53% of the portfolio and valued at $623.43 million.
Edwards Lifesciences Corp (NYSE:EW), comprising 2,970,804 shares, which account for approximately 0.7% of the portfolio, with a total value of $283.89 million.
Zebra Technologies Corp (NASDAQ:ZBRA), with 659,175 shares, representing 0.49% of the portfolio and a total value of $198.70 million.
Key Position Increases
Significant increases were also made to existing holdings, including:
Fox Corp (NASDAQ:FOXA), with an additional 9,098,097 shares, bringing the total to 9,740,532 shares. This adjustment represents a 1,416.19% increase in share count and a 0.7% impact on the current portfolio, valued at $304.59 million.
PayPal Holdings Inc (NASDAQ:PYPL), with an additional 4,206,495 shares, bringing the total to 4,716,280 shares. This adjustment represents an 825.15% increase in share count, valued at $315.94 million.
Summary of Sold Out Positions
Steven Cohen (Trades, Portfolio) completely exited 424 holdings in the first quarter of 2024, including:
Union Pacific Corp (NYSE:UNP), where all 1,184,177 shares were sold, impacting the portfolio by -0.71%.
Honeywell International Inc (NASDAQ:HON), with all 1,110,232 shares liquidated, causing a -0.57% impact on the portfolio.
Key Position Reductions
Reductions were made in several key holdings, notably:
Dell Technologies Inc (NYSE:DELL), reduced by 3,909,954 shares, resulting in a -96.66% decrease in shares and a -0.73% impact on the portfolio. The stock traded at an average price of $93.3 during the quarter and has returned 81.02% over the past 3 months and 96.61% year-to-date.
Meta Platforms Inc (NASDAQ:META), reduced by 779,637 shares, resulting in a -78.66% reduction in shares and a -0.68% impact on the portfolio. The stock traded at an average price of $446.07 during the quarter and has returned -0.41% over the past 3 months and 36.19% year-to-date.
Portfolio Overview
As of the first quarter of 2024, Steven Cohen (Trades, Portfolio)'s portfolio included 2,067 stocks. The top holdings were:
Amazon.com Inc (NASDAQ:AMZN) at 1.67%
Broadcom Inc (NASDAQ:AVGO) at 1.53%
Microsoft Corp (NASDAQ:MSFT) at 1.06%
AT&T Inc (NYSE:T) at 1.05%
Coca-Cola Co (NYSE:KO) at 0.8%
The holdings are mainly concentrated across 11 industries, with significant investments in Technology and Healthcare sectors.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
