Billionaire Steve Cohen Aggressively Bought These 5 Stocks In Q3

Next up is InterOil Corporation (USA) (NYSE:IOC), which Cohen bought 2.44 million shares of during the September quarter. Point72 now holds 3.02 million shares of the gas and oil exploration company, which holds permits covering four million acres of land in Papua New Guinea. Yesterday, InterOil Corporation (USA) (NYSE:IOC) reported positive results from its drilling at the Antelope-4 sidetrack-1 well in Petroleum Retention License 15 (PRL 15), which sent shares up by 7%. Investors that we track showed a lot of faith in InterOil Corporation (USA) (NYSE:IOC) during the third quarter. While shares plunged by 44%, the value of their collective holdings actually increased by 27% to $273 million, so they were heavily banking on a turnaround. So far, so good, as shares are up by 15% in the fourth quarter.

Iconic coffee house Starbucks Corporation (NASDAQ:SBUX) lands on the list after Cohen purchased 1.59 million shares of its stock during the previous quarter, a greater than 900% boost to his holding that is now worth just over $100 million. Shares of Starbucks Corporation (NASDAQ:SBUX) have trended up all year, prompting the company to undertake a 2:1 stock split in April as shares approached $100. Their lone blip came in late-August when they dipped by 13% over a four-trading-day span, which may have been when Cohen pounced. They quickly rebounded and have gained another 9% in the fourth quarter. Starbucks Corporation (NASDAQ:SBUX) continues to branch out from its traditional morning beverage fare with an expanded “evenings” menu that includes craft beer and wines, and small dinner plates. Arrowstreet Capital, led by Peter Rathjens, Bruce Clarke and John Campbell, was also bullish on Starbucks in the third quarter, adding 3.82 million shares to its holding, now its fourth-largest.

Lastly, Cohen also liked Microsoft Corporation (NASDAQ:MSFT) in the third quarter, buying 2.11 million shares of the software giant during the quarter, when he previously owned just 4,200 (if you’re doing the math at home, that’s a 50,235% increase). Microsoft Corporation (NASDAQ:MSFT) was also gaining in popularity among the entirety of the investors that we follow, ranking as their sixth-most popular stock with 113 investors long Microsoft, up by six quarter-over-quarter. Shares of Microsoft and Hewlett Packard Enterprise Co (NYSE:HPE) are both up by over 1% today after the companies announced a collaboration to strengthen their position in cloud computing, based around Windows 10, taking advantage of the operating system’s “Windows-as-a-Service” to allow software management for HP Enterprise’s corporate customers. Cohen is also a shareholder of HP Inc (NYSE:HPQ), which spun-off Hewlett Packard Enterprise in October.

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