SAC Capital Advisors LP, the hedge-fund firm that Steven A. Cohen transformed into a family office this year, added to technology and consumer companies and cut positions in industrial firms during the first quarter.
SAC bought a $91 million stake in Blackberry Ltd. and increased its holdings in Yahoo! Inc. by 7.17 million shares to 9.69 million with the position having a market value of $347.8 million at the end of March, according to a regulatory filing.
Cohen’s firm managed $11.9 billion in assets as of Feb. 1, falling from $15 billion at the start of 2013 as the firm returned money to investors as part of its settlement with the government over insider trading. SAC changed its name to Point72 Asset Management LP in April.
SAC also increased its holding in Chinese internet search engine Baidu Inc. by 1.52 million shares to 1.67 million with a market value of $254.3 million, the filing shows. SAC sold out of its stakes in Foster Wheeler AG and Broadcom Corp.