10 Stocks Billionaire Steven Cohen Is Buying

(TheStreet) -- Steven Cohen's SAC Capital, known for its trading-oriented style to investing, made big bets in the first quarter while adding to key positions in Newmont Mining NEM and communications company CenturyLink CTL. Cohen's Stamford, Conn.-based hedge fund firm, which counted more than 1,500 equity holdings valued at $13 billion at the end of March, was founded in 1992 and has generated average annual returns of about 30%, according to The Wall Street Journal. As the largest investor in his own funds, Cohen routinely earns more than $1 billion a year. Some of his biggest bets last year were in pharmaceutical stocks Alcon and Genzyme. Both companies were acquired by Novartis NVS and Sanofi-Aventis SNY, respectively, earlier this year. At the end of the first quarter, SAC Capital counted Genzyme, Dendreon DNDN and Newmont Mining as its top holdings, each position with a market value of at least $251 million. Other big positions include Express Scripts ESRX, Weight Watchers WTW and Murphy Oil MUR. Continue reading the article.