Steven Cohen's Q2 2023 13F Filing Update: Top Trades and Portfolio Overview
Renowned investor Steven Cohen recently disclosed his firm's portfolio updates for the second quarter of 2023, which ended on June 30, 2023. Cohen, known for his high-risk, high-reward investment strategy, has a portfolio that is diverse and dynamic, reflecting his firm's active trading approach.
The firm's portfolio contained 2,066 stocks with a total value of $33.26 billion. The top holdings were NVDA (2.09%), MSFT (1.87%), and AMZN (1.19%).
Top Three Trades of the Quarter
The following were the firm's top three trades of the quarter:
Health Catalyst Inc (NAS:HCAT)
During the quarter, Steven Cohen (Trades, Portfolio)'s firm purchased 1,437,298 shares of Health Catalyst Inc (NAS:HCAT), bringing the total holding to 2,824,198 shares. This trade had a 0.06% impact on the equity portfolio. The stock traded for an average price of $13.33 during the quarter. As of August 14, 2023, HCAT had a price of $12.7 and a market cap of $723.44 million. The stock has returned -4.37% over the past year. GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 3 out of 10. In terms of valuation, HCAT has a price-book ratio of 1.84, a EV-to-Ebitda ratio of -6.80, and a price-sales ratio of 2.46.
Turnstone Biologics Corp (NAS:TSBX)
The firm established a new position in Turnstone Biologics Corp (NAS:TSBX), purchasing 833,333 shares. This gave the stock a 0.03% weight in the equity portfolio. Shares traded for an average price of $11.4 during the quarter. As of August 14, 2023, TSBX had a price of $11.73 and a market cap of $260.28 million. The stock has returned 0.00% over the past year. GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 2 out of 10. In terms of valuation, TSBX has a price-earnings ratio of 3910.00, a EV-to-Ebitda ratio of 657.10, and a price-sales ratio of 13.45.
Microsoft Corp (NAS:MSFT)
During the quarter, the firm bought 1,373,840 shares of Microsoft Corp (NAS:MSFT), bringing the total holding to 1,822,955 shares. This trade had a 1.41% impact on the equity portfolio. The stock traded for an average price of $313.01 during the quarter. As of August 14, 2023, MSFT had a price of $324.04 and a market cap of $2,407.54 billion. The stock has returned 11.86% over the past year. GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 10 out of 10. In terms of valuation, MSFT has a price-earnings ratio of 33.44, a price-book ratio of 11.68, a price-earnings-to-growth (PEG) ratio of 1.81, a EV-to-Ebitda ratio of 22.20, and a price-sales ratio of 11.41.
In conclusion, Steven Cohen (Trades, Portfolio)'s firm's Q2 2023 portfolio update reveals a dynamic and diverse investment strategy, with significant trades in the healthcare and technology sectors. The firm's top holdings and trades reflect a balanced approach to risk and reward, consistent with Cohen's investment philosophy.
This article first appeared on GuruFocus.
