This LNG Stock Is Up 32% in a Year, so Why Did One Investor Sell Off a $14 Million Position?

Bayberry Capital Partners LP fully exited its position in Golar LNG (GLNG 2.19%) during the fourth quarter, according to a February 17, 2026, SEC filing.

What happened

According to an SEC filing published February 17, 2026, Bayberry Capital Partners LP sold its entire 346,000-share stake in Golar LNG (GLNG 2.19%) during the fourth quarter. The net position change for the quarter, reflecting the share sale, was $13.98 million.

What else to know

• Top five holdings after the filing:
  • NYSE:LION: $29.76 million (9.6% of AUM)
  • NASDAQ:CHDN: $23.03 million (7.4% of AUM)
  • NYSE:WCC: $21.55 million (6.9% of AUM)
  • NYSE:PRMB: $19.63 million (6.3% of AUM)
  • NYSE:SXT: $19.47 million (6.3% of AUM)
• As of Thursday, shares of Golar LNG were priced at $44.80, up 32% over the past year and far outperforming the S&P 500’s roughly 21% gain in the same period.

Company overview

Company snapshot

• Golar LNG designs, builds, owns, and operates marine infrastructure for LNG liquefaction and regasification, including LNG carriers, floating liquefaction (FLNG) vessels, and floating storage regasification units (FSRUs).
• The firm generates revenue through operation and chartering of LNG shipping and FLNG assets.
• It serves a global client base in the energy sector, including utilities and industrial customers seeking LNG transportation and infrastructure solutions.

Golar LNG Limited is a leading provider of floating LNG infrastructure, with a business model centered on the operation and charter of LNG carriers, FLNG vessels, and FSRUs. The company leverages its technical expertise and asset base to deliver flexible, scalable solutions to a global client base. Its competitive advantage lies in its integrated approach to LNG logistics and its ability to serve diverse customer needs across the LNG value chain.

What this transaction means for investors

Looking at Golar’s latest financials, you won’t see a company in distress. The company ended 2025 with improving operating momentum. Total operating revenue reached about $393.5 million for the year, climbing 51%, while adjusted EBITDA jumped 10% to roughly $265 million. Fourth-quarter EBITDA alone came in near $91 million, reflecting stronger production from its floating liquefied natural gas vessels and improved operating performance.

The bigger story, however, may be the durability of its backlog. Long-term contracts tied to its FLNG infrastructure projects provide multiyear visibility into earnings, including a recently secured 20-year project with Argentina’s Southern Energy S.A. that significantly expands the company’s contracted revenue pipeline. Those projects help anchor Golar’s business model around infrastructure-like cash flows rather than commodity price swings.

With the fund’s largest holdings concentrated in industrial and consumer businesses such as Lionsgate Studios, Churchill Downs, and WESCO International, this portfolio exit appears more like a capital allocation shift than a verdict on the company itself.