SAC Capital Advisors LP boosted its holdings in industrial and technology companies in the fourth quarter, even as the hedge-fund firm is shutting its investment advisory business after pleading guilty to securities fraud.
The fund bought about 351,000 shares of Amazon.com, increasing its stake to more than 503,000 that were valued in excess of $200 million as of Dec. 31, according to a filing today with the Securities and Exchange Commission. The Seattle-based company was the fund’s largest U.S.-listed stock investment in the period.
SAC also bought 72,520 shares of Mountain View, California-based Google Inc., owning a total 168,550 shares worth $189 million at the end of the year. The fund bought 149,080 shares of Foster Wheeler AG, for which U.K. oil and gas engineer Amec Plc (AMEC) said yesterday it’s offering $3.3 billion in cash and shares.
Jonathan Gasthalter, a spokesman for SAC at Sard Verbinnen & Co., declined to comment on the filing.
SAC owned $15.1 billion worth of U.S. listed stocks at the end of the year compared with about $16 billion as of Sept. 30, according to data compiled by Bloomberg. The Stamford, Connecticut-based firm in November agreed to pay a record $1.8 billion to settle insider-trading charges and to close its funds to clients.
SAC will manage about $9 billion, mainly that of its billionaire founder Steven Cohen and his employees, compared with about $15 billion at the start of 2013. The firm cut its stake in Yahoo! Inc., which was its biggest holding in the third quarter, selling 5 million shares of the Sunnyvale, California-based company.
SAC also added to its stake in Intercept Pharmaceuticals Inc., which last month posted a record stock gain after the success of a liver disease drug trial. The fund bought 647,950 shares of the New York-based company in the fourth quarter, owning 1.25 million shares at the end of the year.
Six former SAC employees have pleaded guilty to insider trading, and another two money managers, Mathew Martoma and Michael Steinberg, were found guilty in the past two months of securities fraud. As part of the settlement, Cohen agreed to shut SAC and return client money, ending his 22-year career managing assets for clients.
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