Steven Cohen – SAC Capital Advisors disclosed 5.7% passive stake in Cheniere Energy Inc. (LNG) on December 29th. According to a regulatory filing, Steven Cohen now has 7.17 million shares of LNG, which is a 686% expansion in his position. In the third quarter, Steven Cohen reported 1.04 million shares in LNG. It’s possible that Steven Cohen foresaw LNG’s surge and bought most shares during October. LNG has returned more than 50% in 2011. The stock is now trading at $8.57.
Steven Cohen isn’t Cheniere Energy’s biggest stakeholder. In the third quarter, John Kleinheinz’s Kleinheinz Capital Partners retained exactly 4 million shares in the stock, unchanged from the previous quarter. David E. Shaw’s D. E. Shaw boosted its position by 59% and had 2.75 million shares as of the end of September.
Stamford, Connecticut-based SAC Capital is founded by Steven Cohen in 1992. SAC is a diversified hedge fund that uses both fundamental and quantitative analysis based approaches. Cohen is one of the legendary traders and a billionaire. He is estimated to have an $8 Billion new worth. Steve Cohen has $14 Billion in AUM and returned nearly 30% during the past 20 years.
Cheniere Energy, Inc. is “an energy company primarily engaged in liquefied natural gas (LNG)-related businesses”, according to Google Finance. The company “owns and operates the Sabine Pass LNG terminal in Louisiana through its 90.6% ownership interest in and management agreements with Cheniere Energy Partners, L.P. Cheniere operates in three business segments: LNG terminal business, natural gas pipeline business and LNG and natural gas marketing business.”