Point72 Asset Management, the investment firm that manages the wealth of billionaire trader Steve Cohen, bought stakes in energy companies EQT Corp. and Southwestern Energy Co. in the first quarter.
The firm bought 2.28 million shares of EQT valued at $189 million as of March 31, according to a quarterly filing with the U.S. Securities and Exchange Commission. Point72 bought 4.8 million shares of Southwestern Energy, which were worth $111 million.
Point72 sold stakes in Home Depot Inc. and Broadcom Corp. The firm’s biggest U.S.-listed investment is in Visteon Corp., a stake worth $207.6 million at the end of March, according to the filing.
Point72 is the successor firm to Cohen’s hedge fund, SAC Capital Advisors. SAC paid a record $1.8 billion fine and agreed to stop managing money for clients as part of its insider-trading settlement with the U.S. Point72 is based in Stamford, Connecticut.
Money managers who oversee more than $100 million in equities in the U.S. must file a Form 13F within 45 days of each quarter’s end to list those stocks as well as options and convertible bonds. The filings don’t show non-U.S. securities, holdings that aren’t publicly traded, or cash.