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SAC holdings soar ahead of possible shutdown

Jul 25, 2013
Well, at least his stocks are having a good day.

FORTUNE -- Federal prosecutors today filed criminal insider trading charges against hedge fund SAC Capital, one week after filing civil charges against firm founder Steve Cohen. WSJ is reporting that the government is seeking $10 billion from SAC, while Fox Business says that SAC may shut down its fund by as early as later this afternoon.

One thing we know for sure is that SAC Capital's top holdings are on the rise. A bit strange given that there soon may be a glut of supply, but the numbers are the numbers.

As of 1:30pm ET, the DJIA was up 0.08% and the NASDAQ was up 0.61%. But look at the increases for SAC Capital's top ten holdings (based on its March 31 report):

  1. EQT Corp (eqt) +4.37%
  2. Amazon (amzn) +1.09%
  3. Suncor Energy (su) +0.60%
  4. Visa Inc. (v) +4.77%
  5. Micron Technology (mu) +1.34%
  6. Michael Kors (kors) +0.88%
  7. SM Energy (sm) +1.12%
  8. Starbucks (sbux) +1.6%
  9. Noble Energy (nbl) -1.04%
  10. GNC Holdings (gnc) +9.58%

That's nine up and one down, with all nine beating the broader market.

Perhaps there are some traders who strongly believe (or know?) that that the shutdown report is bogus. Or perhaps it's all coincidental...

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