Hedge Fund and Insider Trading News: Alan Howard, Paul Tudor Jones, Michael Burry, David McCormick, Millennium Management, Third Point LLC, Maverick Capital, Carvana Co (CVNA), Activision Blizzard Inc. (ATVI), and More

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Millennium Spinoff Modular Hires Liebau for Blockchain Strategy (Bloomberg)
Modular Asset Management, a hedge-fund spinoff from Israel Englander’s Millennium Management, hired Daniel Liebau as chief investment officer for a strategy that will focus on sustainable blockchain technologies. Liebau, the founding director of Lightbulb Capital, will report to Modular Chief Executive Officer Jimmy Lim and be based in Singapore, according to an e-mailed statement Wednesday. Modular manages about $1 billion.

Third Point Takes Stake in Cano Health, Pushes for Company Sale (Reuters)
BOSTON (Reuters) – Hedge fund Third Point LLC said in a regulatory filing on Wednesday that it owns a 6.37% stake in Cano Health and is urging a strategic review that should focus on selling the U.S. company. The New York firm, run by billionaire investor Daniel Loeb, said that it does not have plans to seek board seats now but may do so in the future if Cano’s board does not “adequately address the value gap” between the company’s share price and its intrinsic value.

Mainstream Hedge Funds Pour Billions of Dollars Into Crypto (The Wall Street Journal)
Some of the biggest names in the hedge-fund world are betting on crypto. Veterans including Alan Howard, co-founder of Brevan Howard Asset Management LLP, and Paul Tudor Jones, the billionaire who runs Tudor Investment Corp., are expanding their crypto trading, according to people familiar with the situation.

Countries with the Smallest Government Per Capita in the World


Fox News Poll: McCormick Tops Dr. Oz in Pennsylvania GOP Senate Primary Poll (Fox News)
Former hedge fund CEO David McCormick has a clear advantage in Pennsylvania’s Republican primary for U.S. Senate, including besting television celebrity doctor Mehmet Oz — although many primary voters remain undecided. A Fox News survey of Pennsylvania GOP primary voters finds McCormick tops Oz by 9 points (24%-15%). Others receive support in the single digits, including Kathy Barnette and Jeff Bartos (9% each), and Carla Sands (6%). Nearly one-third (31%) are unsure which candidate they will support in the May 17 primary.

Paleo Shaping up for a Long Race (Hedge Nordic)
Stockholm (HedgeNordic) – In a chance to catch up with one of the managers qualifying for this year´s “Nordic Hedge Fund Rookie of the Year” we talked to Karl Oscar Strom, of Paleo Fund AIF. The fund currently is available only to Norwegian professional investors and runs around seven million Euro just ahead of its second round of investments into the vehicle. Strom runs a multi strategy approach, focusing on western markets with an emphasis on tech plays. The majority of trades is around equity instruments, which can be single stock or indices, typically futures on the largest markets such as Nasdaq 100 and S&P 500 but also as also futures traded on some commodities, crypto currencies, AEX, DAX or OMX are within the mandate.

What Stocks Does ‘The Big Short’ Investor Michael Burry Own? (Business Insider)
Michael Burry is the founder and former hedge fund manager of now-defunct Scion Capital, most famously known for his massively profitable contrarian investment in the events leading up to the collapse of the real estate market and subsequently the global financial crisis in 2008. Burry was active on Twitter (NYSE:TWTR) in 2021 until he closed his bearish bets on Tesla (NASDAQ:TSLA). He has since deleted his tweets, and his account. He is the hedge fund manager at Scion Asset Management.

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