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SAC holdings soar ahead of possible shutdown

July 25, 2013: 1:42 PM ET
Steve Cohen

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

Traders buy up SAC-owned stocks.

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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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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