Cohen’s SAC Capital Boosts Positions in Retailers Target, Dollar General

SAC Capital Advisors LP, the $14 billion hedge fund run by Steven A. Cohen, increased its stakes in Target Corp. (TGT) and Dollar General Corp. (DG) in the third quarter.

The hedge fund held 2.36 million shares, valued at $115.5 million as of Sept. 30, of Minneapolis-based Target, according to a filing today with the U.S. Securities and Exchange Commission. It owned 2.41 million shares of Dollar General, valued at about $91 million, after buying most of the holdings in both chains during the quarter.

SAC, based in Stamford, Connecticut, bought 1.89 million shares of Tyco International Ltd., making the Schaffhausen, Switzerland-based firm its biggest U.S.-listed holding, according to the filing. The hedge fund also added to its stakes in Suncor Energy Corp., its second-largest holding, and Baker Hughes Inc. (BHI), according to the filing.

Jonathan Gasthalter, a spokesman for SAC, declined to comment on the holdings. SAC also bought 184,600 shares in the SPDR Gold Trust, which tracks the price of bullion, according to the filing.

To contact the reporter on this story: Saijel Kishan in New York at skishan@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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