Hedge Fund Highlights: Ken Griffin, David Tepper & D.E. Shaw Group

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Hedge Fund Manager Ken Griffin Was Seen Chilling On A Yacht With A Name That Only Traders Could Appreciate (Businessinsider India)
Chicago-based billionaire hedge fund manager Ken Griffin was seen chilling on a yacht on Lake Michigan over Memorial Day Weekend, according to a witness who took photos. Griffin, who runs Citadel, was spotted on board a 72-foot Princess Yacht appropriately named “Moar Theta”. It’s a name that only traders could truly appreciate.

CITADEL INVESTMENT GROUP

Billionaires Boost Schools In Jersey City (Wall Street Journal)
Jersey City officials are starting an institute in the fall to train principals for the district’s public schools, with a $3 million gift from two hedge-fund managers who have been active in pushing their vision for educational change. Billionaire hedge-fund manager David Tepper said he backed the Jersey City program because its mayor, city council and school board are “pro-reform” and eager to improve the schools. The district has long been plagued by low achievement, and its instruction and operations are under state control. “Good leadership and good teachers, that’s where it all begins,” Mr. Tepper said.

Lehman Estate Finds Scant Interest In D.E. Shaw Stake (FINalternatives)
Nearly six years after Lehman Brothers went under, it still owns what would seem to be a highly desirable asset. But in spite of six months seeking to drum up interest, there is still no buyer for the collapsed bank’s 20% stake in D.E. Shaw Group. Goldman Sachs is shopping the stake, which Lehman bought about a year before it filed for bankruptcy. No one has yet shown much interest, according to The New York Times, and only Affiliated Managers Group, Inc. (NYSE:AMG), which owns stakes in a number of hedge-fund firms, is still considering a buy.

Highline Capital Management Bets on Healthcare, Basic Materials & Services Stocks (Insider Monkey)
Highline Capital Management is a fund led by Jacob Doft. Founded in 1995, Highline is a long/short equity hedge fund which has an equity portfolio worth $1.46 billion, unchanged in comparison with the previous quarter. Even though the fund holds a diversified equity portfolio, it primarily invests in Services stocks, which account for slightly less than a half of the equity portfolio, followed by Basic Materials and Healthcare sectors. Highline’s commitment to Healthcare stocks is already seen by looking at the first largest holding which is represented by AbbVie Inc (NYSE:ABBV), of which the fund owns 2.07 million shares, with a reported value of $106.36 million.

Hedge Funds’ Investing Prowess Doesn’t Live Up to Billing (Wall Street Journal)
Hedge funds haven’t done much for investors lately. And “lately” in this context starts years ago. The past couple of months have been less than kind for many hedge-fund managers. In March and April, the industry experienced back-to-back declines for the first time in two years, according to industry tracker HFR. Equity hedge funds, which bet on and against stocks and invest in equity derivatives, had a particularly hard time, falling 1.2% even as the S&P 500 had a total return of 1.6%.

When activists come knocking… (CNBC.com)

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