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No surprise here....By Joseph Checkler Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Steven A. Cohen's SAC Capital Advisors hedge-fund firm reported nearly $4 billion more in equity and other investments for the first quarter, compared to the end of 2009, according to a regulatory filing made Monday. SAC listed 1,775 securities worth $13.6 billion as of March 31, compared to 1,818 securities worth $9.7 billion at the end of 2009. The mandatory filing, made on Securities and Exchange Commission Form 13-F, lists equity, option and some debt investments that Cohen's hedge funds had as of the end of the first quarter. SAC employs many different strategies across several funds, making it difficult to detect what types of directional bets the firm may be making. Not all types of investments need to be reported on 13-F forms, so it's likely that SAC is deploying more money than the $13.6 billion listed in the filing. Many investors that manage more than $100 million are required to file 13-Fs with their stock holdings 45 days after the end of a given quarter, giving the public its freshest possible glimpse into the portfolios of well-known money managers. Most hedge-fund managers and others wait until the last possible moment to make these filings. Because the 45th day after March 31 falls on a Saturday, the deadline for first-quarter holdings is Monday. A recent bet on shares of biotechnology company Dendreon Corp. (DNDN) worked out well for Cohen, as the company's prostate cancer drug was approved by the Food and Drug Administration and shares skyrocketed. Dendreon represented one of SAC's largest equity investments in terms of market value as of March 31. -By Joseph Checkler; Dow Jones Newswires; 212-416-2152; joseph.checkler@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=6j2gDbwTafmyOYHmCUKfMw==. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
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