SAC Capital Advisors LP, the $14 billion firm founded by Steve Cohen, told investors that its main hedge fund rose 9.2 percent this year, beating both the stock market and the hedge fund industry.
The gain for SAC Capital International Ltd., the Stamford, Conn.-based firm's main fund, compares with a 5 percent increase in the Standard & Poor's 500 Index and a 4.4 percent return for the hedge funds overall. The SAC fund rose 0.14 percent in June, according to an investor document obtained by Bloomberg.
SAC's top US stock holding in the first quarter was Genzyme Corp., the biotechnology firm acquired by Sanofi in April. Dendreon Corp., SAC's second-largest position, gained 12 percent this year. Plains Exploration & Production Co., the Houston-based oil and gas producer and the firm's fifth-largest position, increased 29 percent this year....
Read more at http://www.nypost.com/p/news/business/sac_boasts_ytd_returns_of_GlBheAv9SVbqu0Hq9HG4JP
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