In its latest 13F filing with the U.S. Securities and Exchange Commission, Point72 Asset Management, led by billionaire Steve Cohen, revealed its equity portfolio at the close of the fourth quarter of 2014, which was valued at $14.25 billion. The fund’s diversified portfolio contains a total of 644 positions. During the quarter, Point72 initiated over 260 positions, and sold out of stakes in over 270 companies. Consumers, Energy, and Technology stocks represent around 52% of the fund’s portfolio, while thee five largest holdings, in terms of value are Tyson Foods Inc. (NYSE:TSN), Rackspace Hosting Inc. (NYSE:RAX), Facebook Inc (NASDAQ:FB), Canadian Natural Resource Ltd (USA) (NYSE:CNQ), and General Motors Company (NYSE:GM), which we’ll discuss below.
Point72 Asset Management is a privately owned family office founded by Steven A. Cohen as S.A.C Capital Advisors in 1992. Headquartered in Stamford, Connecticut, the firm invests primarily in public equity markets, and manages the assets of its founder, along with those of certain eligible employees. It makes investments according to a long/short equity strategy.
Point72 Asset Management reported holding its largest stake in Tyson Foods Inc. (NYSE:TSN), a $15.50 billion market cap company engaged in the food production business. During the fourth quarter, the fund cut its stake in the company to 5.18 million shares, worth $207.51 million, from 7.42 million shares. Last month, Tyson Foods Inc. (NYSE:TSN) announced that it was making major improvements to its poultry plant in Vienna, Georgia. The company is likely to invest over $110 million in the project, resulting in the creation of more than 500 jobs. Since February 2014, the company’s stock has gained nearly 8%. On Thursday, the stock is trading up at $41.26.
Ken Griffin’s Citadel Investment Group is also one of the largest shareholders of Tyson Foods Inc. (NYSE:TSN). In its latest 13F, the fund reported ownership of 5.56 million shares of the company. Millennium Management, run by Israel Englander, held 3.59 million shares as of the end of 2014.
Point72 Asset Management’s second largest holding is Rackspace Hosting Inc. (NYSE:RAX), in which the fund revealed holding 4.07 million shares, down from 4.67 million shares held previously. The stake is valued at $190.47 million. Rackspace Hosting Inc. (NYSE:RAX) is the #1 managed cloud company, which has a market cap of $7.25 billion. During the last year, the company’s stock moved up by 42.41%, while its year-to-date performance is a gain of 6.09%. For the fourth quarter of 2014, Rackspace Hosting Inc. (NYSE:RAX) reported a 15.8% increase in net revenue to $472 million, up from $408.10 million in the same quarter of 2013. For full-year 2014, the company posted net revenue of $1.79 billion, compared to $1.53 billion in 2013. Among the largest shareholders of the company is Clifton S. Robbins’ Blue Harbour Group, which held 9.14 million shares as of December 31. JANA Partners, led by Barry Rosenstein, added more shares to its holding of the company during the fourth quarter, bringing its share ownership to 8.00 million shares.
Point72 Asset Management was bullish on Facebook Inc (NASDAQ:FB), as the fund boosted its stake in the company during the fourth quarter to 2.35 million shares from 376,200 shares held earlier. The holding is valued at $183.11 million. Facebook Inc (NASDAQ:FB) has a market cap of $216.36 billion. On Thursday, the company’s stock is trading up by 2.72% at $78.82. The stock moved up 15.63% over the past calendar year. Other funds betting big on Facebook Inc (NASDAQ:FB) include Stephen Mandel’s Lone Pine Capital, which disclosed owning 13.50 million shares at the end of 2014, and Coatue Management, led by Philippe Laffont, which held 7.18 million shares as of December 31, 2014.
On the fourth spot is Canadian Natural Resource Ltd (USA) (NYSE:CNQ), in which Point72 Asset Management disclosed holding 5.50 million shares, with a reported value of $169.88 million. The stake represents a decrease from the 5.77 million shares the fund reported previously. Canadian Natural Resource Ltd (USA) (NYSE:CNQ) is a $33.74 billion market cap energy company engaged in the acquisition, exploration, development, production, marketing and sale of crude oil, NGLs and natural gas.
Other shareholders of Canadian Natural Resource Ltd (USA) (NYSE:CNQ) include Jean-Marie Eveillard’s First Eagle Investment Management, which reported ownership of 25.85 million shares as of the end of 2014. First Pacific Advisors LLC, run by Robert Rodriguez and Steven Romick, held 5.68 million shares as of December 31, 2014.
Point72 Asset Management also seems to be a big fan of General Motors Company (NYSE:GM), as the fund upped its stake in the automaker to 4.42 million shares, worth $154.15 million, from just 663,900 shares the fund held at of the end of the third quarter of 2014, a 565% increase. General Motors Company (NYSE:GM) was the top holding of David Tepper’s Appaloosa Management LP, though it decreased its share ownership in the company slightly to 14.69 million shares, worth $512.44 million, from the 14.86 million shares the fund held at the end of the third quarter. The new total still represented 7.0% of its equity portfolio. Warren Buffett is also betting big on the company, with his fund Berkshire Hathaway increasing its position during the fourth quarter by 1.00 million shares to 41.00 million shares total.
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