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.
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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.
Dalio Says China’s Winning Trade War With US But Clash Avoidable (BNN Bloomberg)
(Bloomberg) — Ray Dalio, the founder of hedge fund Bridgewater Associates, said China is coming out on top in the trade war with the US, though the standoff between the world’s two biggest economies likely won’t escalate into military conflict. The billionaire investor told a conference in Dubai on Wednesday that the renminbi was beginning to be used more widely for international trade and the real winners of the confrontation will be those able to tap into both the US and China.
FTX Negotiates for Return of $400 Million From Obscure Hedge Fund (The New York Times)
The founders of the trading firm Modulo Capital are in talks with FTX about returning the investment that Sam Bankman-Fried made in the fund. After the cryptocurrency exchange FTX collapsed last year, bankruptcy lawyers, federal prosecutors and forensic investigators embarked on a global hunt to recover billions of dollars in lost deposits and repay the firm’s customers. One large chunk of money has been sitting for months in an interest-bearing account at JPMorgan Chase, the world’s largest bank. JPMorgan holds $400 million that FTX’s founder, Sam Bankman-Fried, invested in an obscure hedge fund, Modulo Capital, four people with knowledge of the matter said.
Wednesday 2/15 Insider Buying Report: ASPS, VAPO (Nasdaq.com)
At Altisource Portfolio Solutions, a filing with the SEC revealed that on Tuesday, John G. Aldridge Jr. bought 20,000 shares of ASPS, for a cost of $5.00 each, for a total investment of $100,000. Altisource Portfolio Solutions is trading up about 4.8% on the day Wednesday. This buy marks the first one filed by Aldridge Jr. in the past year. And at Vapotherm, there was insider buying on Friday, by Director Lance A. Berry who purchased 95,238 shares at a cost of $1.05 each, for a total investment of $100,000. Before this latest buy, Berry made one other purchase in the past twelve months, buying $49,840 shares at a cost of $3.18 each. Vapotherm is trading up about 20.4% on the day Wednesday.
Fox, MGM Resorts And 3 Other Stocks Insiders Are Selling (Benzinga)
Moderna: The Trade: Moderna, Inc. (MRNA) Director Noubar B. Afeyan sold a total of 20,000 shares at an average price of $167.84. The insider received around $3.36 million from selling those shares. MGM Resorts International: The Trade: MGM Resorts International (MGM) CEO and President William Hornbuckle sold a total of 110,000 shares at an average price of $44.86. The insider received around $4.93 million from selling those shares.
London Hedge Fund Makes $150 Million on Bust Norwegian Papermaker (Bloomberg)
Oceanwood Capital Management LLP’s bet on a bankrupt Norwegian newsprint manufacturer has finally paid off, nearly five years after the hedge fund bought it out of bankruptcy. The London-based outfit made around $150 million in its wager on Norske Skog ASA, after an initial investment of around $300 million, according to a person familiar with the numbers. Oceanwood sold the vast majority of its shares in the company, according to a statement issued last week.
