Cohen's Point72 Adds to Nike, Sells Amazon in Fourth Quarter

  • Firm reduces its investment in Amazon by 610,100 shares
  • Manager adds 2.3 million shares of Nike to U.S. holdings

Point72 Asset Management LP added shares of Nike Inc. last quarter, sold stock in Inc. and exited Comcast Corp.’s class A shares.

The fund added 2.3 million shares of Nike and the value of its stake increased by $146.2 million to $164.4 million as of Dec. 31, the biggest gain among previously disclosed holdings, according to a quarterly filing with the Securities and Exchange Commission on Tuesday.

Point72 cut its investment in Amazon by 610,100 shares, leaving 8,100 valued at $5.5 million. The firm liquidated its $123.7 million investment in Comcast A shares, selling 2.2 million shares.

Point72’s disclosed holdings totaled $11.1 billion and its equity value fell by $123.4 million during the quarter, a period when the Standard & Poor’s 500 Index rose 6.5 percent. The firm owned shares in 618 companies at the end of the quarter and 206 of them were newly reported, led by a $218.9 million stake in Advance Auto Parts Inc. and a $104.3 million holding in Corning Inc.

Money managers who oversee more than $100 million 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.

This story was produced by the Bloomberg Automated News Generator.

Before it's here, it's on the Bloomberg Terminal.