As one would reasonably expect, key hedge funds have jumped into Cheniere Energy Partners LP Holdings LLC (NYSEMKT:CQH) headfirst. Luminus Management, led by Jonathan Barrett and Paul Segal, assembled the largest position in Cheniere Energy Partners LP Holdings LLC (NYSEMKT:CQH). Luminus Management had $23.6 million invested in the company at the end of the quarter. Clint Carlson’s Carlson Capital also initiated a $9.3 million position during the quarter. The following funds were also among the new CQH investors: Howard Guberman’s Gruss Asset Management, Dmitry Balyasny’s Balyasny Asset Management, and John A. Levin’s Levin Capital Strategies.
Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Cheniere Energy Partners LP Holdings LLC (NYSEMKT:CQH) but similarly valued. We will take a look at Manpowergroup Inc (NYSE:MAN), Veeva Systems Inc (NYSE:VEEV), Erie Indemnity Company (NASDAQ:ERIE), and Blue Buffalo Pet Products Inc (NASDAQ:BUFF). This group of stocks’ market valuations are similar to CQH’s market valuation.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| MAN | 29 | 447052 | 5 |
| VEEV | 23 | 254286 | 2 |
| ERIE | 9 | 61054 | -1 |
| BUFF | 28 | 309153 | 2 |
As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $268 million. That figure was $542 million in CQH’s case. Manpowergroup Inc (NYSE:MAN) is the most popular stock in this table. On the other hand Erie Indemnity Company (NASDAQ:ERIE) is the least popular one with only 9 bullish hedge fund positions. Cheniere Energy Partners LP Holdings LLC (NYSEMKT:CQH) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard MAN might be a better candidate to consider taking a long position in.
Disclosure: None
