SAC Discloses Government Subpoena (Top 100 Holdings Presented)

Tyler Durden's picture

Goodnight Sweet Prince

From Market Watch:

SAC Capital Advisors LP told investors in a letter that it got a government subpoena, according to a person who received the update from the hedge fund firm. SAC said in the letter, dated Nov. 23, that the government served identical “extraordinarily broad” subpoenas on a number of investment managers of different sizes and descriptions, including SAC. The subpoena does not focus on particular individual securities, sectors or strategies, SAC added. The firm said the subpoenas don’t “shed much light on whom or what the government may be investigating.” One focus appears to be on the use of consultants and soft dollars, SAC noted in the letter. SAC will respond to the government “in a professional and cooperative manner.” “Neither the subpoena nor any other information of which we are aware suggests that anyone at SAC has engaged in any wrongdoing,” the firm added.

Zero Hedge from November 4: Is The SEC's Insider Trading Case Implicating FrontPoint A Sting Operation Aimed At S.A.C. Capital?

Our questions back then:

  1. Did SAC short CYBX in the
    days immediately preceding the adverse CYBX statement from August 12,
    2004. And did it subsequently go long ahead of the favorable 8K from
    February 3, 2005. If so, what was the investment thesis/catalyst for
    such decision. Did SAC consult with an expert network or an outside
    consultant on any of the trades?
  2. Did
    SAC go long ITMN in the days immediately preceding the favorable ITMN
    statement from March 9, 2010. And did it subsequently sell all of its
    holdings in advance of the adverse news from May 4, 2010.
    If so, what was the investment thesis/catalyst for such decision. Did
    SAC consult with an expert network or an outside consultant on any of
    the trades?
  3. Did SAC sell its 700,000 shares in advance of the adverse MYGN news release from May 4, 2010.
    And did it subsequently sell all of its holdings in advance of the
    adverse news from May 5, 2010.
    If so, what was the investment thesis/catalyst for such a decision. Did
    SAC consult with an expert network or an outside consultant on any of
    the trades? Furthermore, what catalyzed the decision to reenter the stock.
  4. We also have some broadly
    rhetorical questions: how is it that a rabbi who as he himself admits,
    has never traded a stock in his whole life, knew ahead of everyone,
    certainly the SEC, that Skowron had (allegedly) traded on inside information. More to the point, why was Jeff Skowron not named as a defendant in this action: based on the
    SEC complaint,
    which in itself is worth an entire read, the agency has more than
    enough information to indict him as a co-conspirator in the case. Why is
    FrontPoint also not named? And why is it that we get the feeling that the SEC got all of its information on the Benhamou/FrontPoint case courtesy of the US attorney general, who had forwarded the Balkany information over to them. If that is the case, what else is the SEC currently investigating? Are all biotech
    consultants working for 'expert networks' currently under SEC
    surveillance and being bugged by various law enforcement administrations
    ala Raj Rajuratnam? And, most importantly, is the ongoing official anonymity of Skowron
    indicative that the SEC is merely using him to build a much greater
    "sting" case against his former, and oh so very elusive, employer? 

We were correct about pretty much everything.

And for shits and giggles, here are SAC's top 100 holdings:

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NoBull1994's picture

Stevie will always have his looks, though.

Mr Lennon Hendrix's picture

He looks like Hank Paulson's fat cousin.

Slash's picture

I was just reading Schwagers "stock market wizards" the other day. 2nd to last guy interviewed....none other than Steven Cohen......./barf


captcha = ____ + 22 = 24?



time for harder captchas....


velobabe's picture

i think that one was intended for me, tyler forgot.

Joe Davola's picture

Careful, or you'll get the "prove Fermat's last theorem" captcha.

snowball777's picture

I'm gonna need way more than 2 chars for that.

chopper read's picture

i actually DID prove Fermat's Last Theorem one night whilst on acid, but i lost the piece of paper.  Go figure.


get it?  "go figure"? 

Careless Whisper's picture

interesting. this is from the story:

For now I will refrain from revealing too much of the article’s contents except to alert you that it includes excruciating detail about this Milken network, shocking facts about some traders who are dangerous in every sense of the word, and a tremendous amount of information regarding some singularly ruthless organized crime groups and people tied to the world’s most violent terrorist outfits.

The Rock's picture

trannysaurus sex (t. sex)

Widowmaker's picture

Don't let the junks get you down - it appears that more and more users from the Huffagton post visit ZH.

MasterB's picture

At least they don't grease back their hair.

Rainman's picture

....ah yah, round up all the unusually ugly bald guys.

chindit13's picture

He has a very lovely and charming wife.  No kidding.

Ripped Chunk's picture

I'm sure he fancies himself the suave, handsome master of the universe just like the rest of the socipaths of his ilk.

Ted K's picture

Looking at Steve Cohen I keep wondering what Kosher food could make a man's teeth so yellow and is fluoride spoken against in the Torah??? 

ZackAttack's picture

I wonder sometimes about these billionaires.

Like, how Trump wears a rug that looks like the matted ass-hair of an orange tabbycat.

And, kee-rist, have you ever seen George Lucas' teeth? Could he not drop a thousand or so on Invisalign?

Desenstematic's picture

They look like that for a reason,

So your run of the mill construction worker thinks he could "kick his ass" and continues about his toiling...

Agent P's picture

"...Trump wears a rug that looks like the matted ass-hair of an orange tabbycat."

That's top shelf color commentary!  I applaud you sir.


Problem Is's picture

You insult matted-ass orange tabby cats, sir...
I challenge you Donald Trump <BITCH><SLAP> to a duel...

Since you would be fucking up my chili cheese dog order right now if your daddy had not left you $400 million...

Your choice of weapons, sir....

Leo Kolivakis's picture

Trump is a shameless self-promoter -- always was one, always will be one. In the world of real estate, he is a midget compared to guys like Tom Barrack and John Grayken. I wish America would fire Trump once and for all!

chindit13's picture

It's part of their bug-out kit.  They can blend into the crowd and be "misunderestimated".  Remember what got people pushing daisies, or lotus blossoms, in Khmer Rouge Kampuchea.  Handsome, good teeth, soft hands, glasses.....

On the other hand, guys like Louis Bacon couldn't hide at the Rose Bowl on New Year's Day.

Bananamerican's picture

i'm not prone to visualizing a man on a roasting spit but...

Ratscam's picture

he definitely pays double price at the brothels

Desenstematic's picture

Look at the weird "colorful children sculpture" in the front of his yard:

UpShotKnotHoleGrable's picture

Nice job ZH.  You don't have to take anybody's shit!

Dr. Engali's picture

Clearly this is what Darth Vader would look like without the burns.


Jaw Knee Cash's picture

The dying repentant Vader, of course. "Luke, I'm so sorry I blew off all your little league games for coke, hookers, and being a master of the universe." "It's ok pop, I'm just glad we had this special moment together before you skurry off to star-hell for being such a murderous douche bag for so long."

cougar_w's picture

SAC: they got nuthin on me the rats

jory's picture

Stevie ain't going down.  He'll have the best attorneys money can buy who will tear up the government guys in their polyester shirts and clip-on ties.  

Mad Max's picture

You mean all the federal prosecutors now joining the Federal $150k club, while private practice attorneys hope to get their fees paid?

Oh, this guy's defense attorneys will be paid more than the prosecutors, but to think it's an unfair fight in his benefit is ignorant.

OutLookingIn's picture


 Why not?

The Department of Wrist Slaps is ready in case of guilty verdicts!

Crisismode's picture

Hey Jory! How's that PM call you made this morning working out for you?!?!

by jory
on Tue, 11/23/2010 - 11:55


Looks like the Buy Gold crowd is going to get a Colon Cleansing for Thanksgiving.  LMFAO!!!!

R Man J's picture



Good work Crisismode. An all-too-rare documented troll-capture!


BrianOFlanagan's picture

another win for Project Mayhem

tmosley's picture

Doing the SEC's work for them, eh?

Well done.

jory's picture

I'd like to know why he hired Ron Insana other than he made him feel better about being fat and ugly.  Tall, fat and ugly is better than short, fat and ugly.





LFMayor's picture


GhostTrader's picture

seems like a nice guy, what seems to be the problem?

Bananamerican's picture

apparently he's actually a man of great avarice, vanity and mendacity...

the community is shocked