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Hedge Fund and Insider Trading News: Bill Ackman, Alan Howard, Barry Rosenstein, Vistra Energy Corp (VST), Novanta Inc (NOVT), and More

Hedge Fund Brevan Howard Made Gains Across Firm in February – Source (Reuters)
LONDON, March 5 (Reuters) – Billionaire Alan Howard’s hedge fund generated gains across the firm in February as many peers struggled in the wake of coronavirus. London-based Brevan Howard’s main fund, which bets on macroeconomic events, made 5.2% in February, generating gains of 3.8% year-to-date, according to a source with knowledge of the matter. Four other Brevan funds generated gains ranging from 2.3% to 16.6%, said the source.

Dyal Sues Rosenstein’s Jana Over Divided Attention at Fund (Bloomberg)
Jana Partners LLC, the activist fund founded by Barry Rosenstein, failed in overseeing its day-to-day operations, the Dyal unit of Neuberger Berman said in a lawsuit. Dyal Capital Partners, the largest investor of its kind to take interests in hedge fund and private equity firms, took a 20% stake in Jana in 2015. The Neuberger unit generally expects fund managers to stay actively involved for the duration of its investment.

Activist Hedge Fund Elliott Management’s Attack on Jack Dorsey is the First Shot in Brutal New Reality for Tech Founder CEOs Who have Lost Their Protective Halo (Business Insider)
Jack Dorsey has just lost a powerful privilege enjoyed by only a tiny group of chief executives: the status of being untouchable. The Twitter cofounder and CEO is being targeted by activist hedge fund Elliot Management, which wants to replace him with a new chief executive. Activist firms have antagonized underperforming public company CEOs for years, often in brutal, no-holds-barred campaigns, but they’ve largely steered clear of tech companies with founders in the top job.

Insider Trading, NYSE, Markets, Stock Trader On The Phone

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Noted Shareholder Pacifist Forced To Mobilize For War (Deal Breaker)
From his home in a gated community on an exclusive island off Miami Beach, a man in white tennis shoes gazes out on the calm water of Biscayne Bay. How he wishes his life could be as tranquil. For in spite of this man’s professedly peace-loving ways, his 84 years have been routinely punctuated by battle over such key points of principle as whether he or Bill Ackman is the bigger asshole. No, the only combat Icahn he now wishes to engage in is on the fairways, shuffleboard and tennis courts of the Indian Island Country Club. Alas, it is not to be for Carl Icahn, for he finds himself called to arms once more. And so, like Neville Chamberlain before him, he must wearily announce that his is again at war, with HP.

Bill Ackman Says He’s Preparing his Fund for the Worst as Coronavirus Sends Markets Spinning (Business Insider)
On Tuesday, Bill Ackman of Pershing Square Holdings told investors that the portfolio is being hedged to combat market volatility amid the coronavirus outbreak. “We have taken steps to protect the portfolio from downward market volatility,” the hedge fund manager wrote. That action was taken as the firm believes “efforts to contain the coronavirus are likely to have a substantial negative impact on the U.S. and global economies, and on equity and credit markets,” he added.

Nordic Equity HFs See Red (Hedge Nordic)
Stockholm (HedgeNordic) – Nordic equity hedge funds fell by 2.3 percent on average last month (86 percent reported), as equity markets across the globe ended the month with the worst week for investors since 2008. Only one in every seven members of the NHX Equities reported gains for February. Global equity markets, as measured by the FTSE World Index, declined by 7.6 percent in Euro terms last month. Nordic equities, as expressed by the VINX All-Share Index, returned a negative 7.0 percent in Euro terms. The index includes all firms listed on Nasdaq OMX Nordic Exchanges and Oslo Börs. Eurozone equities were down 7.8 percent, while North American stocks fell by 7.3 percent in Euro terms.

Hedge Funds Significantly Outperformed S&P In February (Radio) (Bloomberg)
Don Steinbrugge, Founder and CEO of Agecroft Partners, LLC, discusses hedge fund flows and behavior amid the market sell-off. Hosted by Lisa Abramowicz and Paul Sweeney.

Glue42 Signs Major Hedge Fund (Hedge Week)
Glue42, a fintech providing intelligent desktop solutions for financial institutions, is helping a major hedge fund build its next generation trading platform. The company has also recently onboarded two new partners. Glue42 says the new collaborations reflect its workspace vision and how enabling the rise of task-oriented applications, standardisation and the re-use and migration of legacy applications are paramount to defining future interaction styles between humans and their desktop tools.

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