Cohen’s SAC Buys Newmont, CenturyLink While Selling Plains
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SAC Capital Advisors LP, the hedge fund founded by billionaire Steven A. Cohen, boosted stakes in Newmont Mining Corp., CenturyLink Inc. and Dendreon Corp. during the first quarter, according to a regulatory filing.
SAC cut its Plains Exploration & Production Co. stake by 45 percent last quarter, according to the filing today. The fund increased its equity weighting to the energy and materials industries by 1.2 percent each and lowered consumer discretionary and technology weightings by 1 percent in the period that ended March 31.