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Thursday, November 16, 2006

SAC Capital's Latest Adjustments

From 13D Tracker

Another 13F filing of interest. This one from one of the world's largest and most well respected hedge funds SAC Capital, which is run by Steve Cohen.

SAC is not a buy and hold type investor, so while interesting the stocks may not be good piggybacks:

Some positions closed out: FPL Group Inc. (NYSE: FPL) (sold 1.9M shares), Emulex Corp. (NYSE: ELX) (sold 2.3M shares), Laidlaw International Inc. (NYSE: LI) (sold 1.3M shares), Source Interlink Companies Inc. (Nasdaq: SORC) (sold 2.5M shares), Level 3 Communications Inc. (Nasdaq: LVLT) (sold 5.8M shares).

Some new positons: NTL Inc. (Nasdaq: NTLI) (added 2.5M shares), Tyco International Ltd. (NYSE: TYC) (added 1.45M shares), Pentair Inc. (NYSE: PNR) (added 1.3M shares)

Some raised positons: Business Objects SA (Nasdaq: BOBJ) (added 2.85M shares), Alcoa Inc. (NYSE: AA) (added 2.6M shares), Phelps Dodge Corp. (NYSE: PD) (added 482K shares)

Some lowered position: Inco Ltd. (NYSE: N) (cut 1.5M shares), International Paper Co. (NYSE: IP) (cut 2.6M shares), Time Warner Inc. (NYSE: TWX) (cut 5.6M shares).

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