Legendary hedge-fund pioneer Steven Cohen is best known for founding SAC Capital Advisors, one of the most successful hedge funds ever created. However, it was forced to shut down in 2013 after the firm pleaded guilty to securities fraud involving insider trading charges.
Point72 Asset Management was founded in its wake as a family office that invests on behalf of Cohen, his relatives, and friends. It has more than $35 billion in assets under management (AUM).
In a surprise announcement, though, Cohen just said he will be stepping down from trading at the hedge fund. That makes it instructive to see the puts and takes in Cohen’s portfolio. Here are the two stocks that saw the biggest selloff in shares from the hedge fund’s portfolio.
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