Lone Pine Capital Boosts Cheniere Energy Position ~ market folly

Wednesday, September 30, 2015

Lone Pine Capital Boosts Cheniere Energy Position

Steve Mandel's hedge fund firm Lone Pine Capital has filed a 13G with the SEC regarding its stake in Cheniere Energy (LNG). Per the filing, Lone Pine now owns 5.2% of the company with over 12.24 million shares.

This is up markedly from the 7.9 million shares they owned at the end of the second quarter.  The filing was made due to activity on September 18th.  LNG shares are down almost 30% since the end of Q2.

As we've highlighted recently, Cheniere Energy has attracted some big names on both the long and short sides.  Carl Icahn has been buying LNG shares recently and Seth Klarman's Baupost Group has also been an owner of shares for a bit.  On the other side of the trade, Jim Chanos is short LNG.

For more on Mandel's fund, we've detailed previous Lone Pine portfolio activity here.

Per Google Finance, Cheniere Energy is "an energy company engaged in Liquefied natural gas (LNG) businesses. The Company operates through two segments: LNG terminal business, and LNG and natural gas marketing business The Company owns and operates the Sabine Pass LNG terminal in Louisiana through its ownership interest in and management agreements with Cheniere Energy Partners, L.P. (Cheniere Partners), which is a publicly traded limited partnership. The Company owns 100% of the general partner interest in Cheniere Partners and 80.1% of Cheniere Energy Partners LP Holdings, LLC (Cheniere Holdings), which is a publicly traded limited liability company that owns a 55.9% limited partner interest in Cheniere Partners. The Company is engaged in the development of two LNG terminal projects: the Sabine Pass LNG terminal in western Cameron Parish, Louisiana, and the Corpus Christi LNG terminal near Corpus Christi, Texas." 

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