Cohen’s SAC Capital Purchased Shares in Reliance Steel in Fourth Quarter
The firm held 1.26 million shares of Los Angeles-based Reliance valued at $61.5 million as of Dec. 31, according to a filing today with the U.S. Securities and Exchange Commission. SAC bought 1.3 million shares of apparel retailer Kors Holdings valued at $35.2 million at the end of the quarter.
The purchases were the biggest new holdings for SAC in the last quarter. The fund increased its stake in Apple Inc., its biggest holding, to 1.07 million shares valued at $433 million as of Dec. 31 from about 200,000 shares in the third quarter. The hedge fund also added to its stakes in drugmaker Gilead Sciences Inc. (GILD), its second-largest U.S. stock position, and Illinois Tool Works Inc. (ITW), according to the filing.
Jonathan Gasthalter, a spokesman for Stamford, Connecticut- based SAC, declined to comment on the filing.
To contact the reporter on this story: Saijel Kishan in New York at email@example.com
To contact the editor responsible for this story: Christian Baumgaertel at firstname.lastname@example.org