Horos Asset Management Exited Golar LNG Limited (GLNG)

Horos Asset Management, an investment management company, recently released its second quarter 2022 investor letter. A copy of the same can be downloaded here. Since its inception, in May 2018, Horos Value Internacional has returned 19.8% and Horos Value Iberia has returned 7.1%. For more information on the fund’s top picks in 2022, please check its top five holdings.

Horos Asset Management discussed stocks like Golar LNG Limited (NASDAQ:GLNG). Headquartered in Hamilton, Bermuda, Golar, LNG Limited (NASDAQ:GLNG) is in the business of marine LNG. The stock of Golar LNG Limited (NASDAQ:GLNG) closed at $28.72 per share on August 18, 2022. In one month, the stock returned 33.02% and its shares gained 178.83% of their value over the last 52 weeks. Golar LNG Limited (NASDAQ:GLNG) has a market capitalization of $3.096 billion.

Here is what Horos Asset Management specifically said about Golar LNG Limited (NASDAQ:GLNG):

“This quarter we sold our entire stake in Golar LNG Limited (NASDAQ:GLNG). As we highlighted in our previous letter, the company engaged in the conversion of natural gas into liquefied natural gas (FLNG infrastructures), the storage of LNG and regasification through FSRU and the transportation of LNG (with its stake in Cool Company), has benefited greatly from the current tightness in the natural gas market, derived from the energy transition and, indeed, aggravated by the Russian invasion of Ukraine and the various sanctions and measures taken by the Western nations against the country led by Vladimir Putin. On the one hand, its market value relative to our intrinsic value estimate has considerably narrowed following its outstanding performance. On the other hand, our search for a more favorable riskreturn setup in the natural gas market led us to sell Golar LNG and to invest, as we will discuss below, in its spin-off Cool Company.”

Photo by Asael Peña on Unsplash

Golar LNG Limited (NASDAQ:GLNG) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, Golar LNG Limited (NASDAQ:GLNG) was held by 27 hedge fund portfolios at the end of the first quarter, which was 31 in the previous quarter.

We discussed Golar LNG Limited (NASDAQ:GLNG) in another article and shared RiverPark Funds’ insights about the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.