David Einhorn’s Greenlight Makes Changes to the Hedge Fund Positions (TipRanks)
David Einhorn, Founder and President of Greenlight Capital exited his stakes in Intel (INTC), Rivian Automotive (RIVN), and News Corp. (NWS) in Q4, according to the hedge fund’s 13-F filing. The hedge fund has opened new positions instead in Coya Therapeutics (COYA) with 1.13 million shares, Tenet Healthcare (THC) with 296,300 thousand shares, and Funko (FNKO) with 234,300 thousand shares.
Why Billionaires Paul Tudor Jones and George Soros Bought Up Horizon (HZNP) Stock (Business Insider)
Two billionaires – Paul Tudor Jones and George Soros — acquired shares of Horizon Therapeutics (NASDAQ:HZNP) stock, a drugmaker, last quarter. On Dec. 12, Horizon agreed to be acquired by a giant pharmaceutical company, Amgen (NASDAQ:AMGN). Jones and Soros’ Purchases of HZNP Stock: In the fourth quarter of 2022, Tudor Investment, Paul Tudor Jones’ hedge fund, bought 648,600 of HZNP stock. The purchase marked the first time the fund acquired shares in Horizon.
Family Offices Whiff on Tech Rally as Hedge Funds Get Boost (Bloomberg)
Money managers for the ultra-wealthy dumped beaten-down technology stocks during the fourth quarter, right before the market rallied in 2023, while their hedge fund counterparts took a different tack. Both Iconiq Capital and the investment firm for the Walton family’s fortune sold shares of cloud-computing company Snowflake Inc., which surged 20% this year through Tuesday after a steep slide in 2022. Stan Druckenmiller’s Duquesne Family Office also exited Microsoft Corp. and Amazon.com Inc. in the fourth quarter, according to a regulatory filing.
Rawpixel.com/Shutterstock.com
Billionaire George Soros Confirms Huge Bet on Tesla And Elon Musk (The Street)
The legendary financier continued to buy Tesla shares in the fourth quarter despite the electric vehicle maker’s stock market rout. Elon Musk asked a provocative question to George Soros last month. The question was related to the way Soros uses his money and indirectly about the numerous donations the legendary financier makes. “Do you actually know where your money is going?” Musk said on Jan. 16, referring to Soros.
‘Big Short’ Manager Burry, Farallon Among Hedge Funds Making Bets on China (Reuters)
“Big Short” investor Michael Burry, Farallon Capital Management, and Coatue Management were among the prominent hedge fund managers who took large bets on Chinese companies ahead of the reopening of the country’s borders in January after nearly three years of restrictions, securities filings showed on Tuesday. Burry, who came to fame ahead of the 2008 financial crisis by betting against U.S. real estate, added a new position of 75,000 shares in Chinese e-commerce company JD.com Inc (9618.HK) and a new position of 50,000 shares in Chinese tech giant Alibaba.com (9988.HK), filings show.
