Billionaire Investor David Einhorn Just Revealed His Top 10 Holdings. Here’s Why the Hedge-Fund Chief Bought Each Stock — Plus Why He Likes Rivian More Than Tesla (Business Insider)
David Einhorn enjoyed a strong fourth quarter as his hedge fund Greenlight Capital outperformed the S&P 500’s 11% gain by returning 18.6%, according to the billionaire investor’s latest 13F filing. Einhorn also revealed he’d bought 1,000 put contracts against Tesla shares and shared his analysis of some of the fund’s top holdings in a letter to Greenlight’s investors.
Brevan Howard’s Broad Hiring Spree Continues (eFinancialCareers.com)
Do you work for a bank? Hedge fund Brevan Howard may hire you. Do you work for a rival hedge fund? Brevan Howard may hire you. Do you work for a major consulting firm? Brevan Howard may hire you. Do you work in crypto and high frequency trading? Brevan Howard may hire you too. Brevan Howard is hiring from right across the piste. The latest new recruit to arrive is Mitesh Gupta, the head of flow credit at HSBC, who was said to be joining last year and who presumably couldn’t be bothered to wait around to see whether his bonus was up 10% as recently promised.
Rubric Takes a Big Stake in Hertz (Institutional Investor)
Here’s where one-time Institutional Investor Rising Star and SAC alum David Rosen is finding deep value. David Rosen isn’t exactly a credit and distressed-debt specialist. Yet the one-time II Hedge Fund Rising Star has emerged as the fourth-largest shareholder of Hertz Global Holdings, the recently reorganized car rental giant. Rosen’s Rubric Capital Management disclosed that it owns roughly 9.9 million shares of the car rental giant, or…
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Top 15 Hedge Fund Managers Earn $15.8 Billion Last Year (The Street)
Top 15 hedge fund manager earnings drop to $15.8 billion in 2021 compared to $23 billion for 2020, as volatility in stocks and bonds limit performance. It’s getting rough out there for hedge fund managers. The 15 most highly-paid in the industry earned “only” $15.8 billion, down from $23 billion in 2020, according to Bloomberg’s rankings.
Icahn Documentary Shows the Laughs as Well as the Ruthlessness (Bloomberg)
Hi, it’s Scott in New York. For today’s Bloomberg Deals newsletter, I got a sneak peak of a new documentary that offers some answers to those long-pending questions about how the son of a cantor from Queens became the Carl Icahn the world knows—and often fears. Today’s top stories: In the years that I’ve reported on Carl Icahn’s pitched Wall Street battles, he’s made me laugh harder than just about anyone in my professional circle, and made me bang my head on my desk, too. He’s pushy and demanding and loves a fight—but ultimately is steadfast in his beliefs.
BlueBay Prices Inaugural US Public CLO and Third European CLO (Hedge Week)
RBC Global Asset Management’s specialist fixed income manager, BlueBay Asset Management, has proved its third European CLO, BBAM European CLO III DAC, and its inaugural public US CLO, BBAM US CLO I. The European CLO will issue EUR408.15 million notes arranged and placed with a syndicate of leading international institutional investors, by Citigroup Global Markets Limited. The transaction is expected to close on 25 March, 2022.
Focus on Green Metal Supply Chain (Hedge Nordic)
Stockholm (HedgeNordic) – During the summer of last year, one of Atlant Fonder’s funds managed by Mattias Gromark shifted its focus from precious metals to “green” metals in an attempt to capitalize on the green energy transition. Atlant Green Tech Metals has now been subject to additional changes in its fund regulations to sharpen the focus on the supply chain for green metals.
Man Group Hires Two to Lead New Private Credit Strategy (Opalesque)
British hedge fund manager Man Group announced that its private markets investment business Man Global Private Markets hired Jonathan Imundo and Matthew Moniot as co-heads of credit-risk sharing (CRS), a new strategy in its global private markets unit. According to a press release from the world’s largest publicly traded hedge fund, the new CRS strategy is within the firm’s $3.5 billion global private markets unit. Both are from alternative credit manager Elanus Capital Management and will report to Eric Burl, head of global private markets and global co-head of sales and marketing. Jonathan is based in New York, and Matthew is in London.
Morgan Stanley’s Archegos Unwinding Sped Up Trading Probe (Bloomberg Quint)
(Bloomberg) — Morgan Stanley’s role in the unraveling of Bill Hwang’s family office breathed new life into a federal probe examining irregularities in Wall Street’s lucrative market for block trades. U.S. authorities ramped up their investigation into whether big banks and their hedge fund clients broke rules when privately negotiating large stock sales after the blowup at Archegos Capital Management, according to people with knowledge of the matter.
Wednesday 2/16 Insider Buying Report: KNTE, AMG (Nasdaq.com)
At Kinnate Biopharma, a filing with the SEC revealed that on Tuesday, Director Carl L. Gordon purchased 195,700 shares of KNTE, at a cost of $10.17 each, for a total investment of $1.99M. So far Gordon is in the green, up about 9.0% on their purchase based on today’s trading high of $11.08. Kinnate Biopharma is trading up about 8.6% on the day Wednesday. And also on Tuesday, Director Reuben Jeffery III purchased $503,860 worth of Affiliated Managers Group, purchasing 3,500 shares at a cost of $143.96 each. Before this latest buy, Jeffery III bought AMG at 2 other times during the past twelve months, for a total investment of $909,878 at an average of $174.98 per share. Affiliated Managers Group is trading up about 0.6% on the day Wednesday. So far Jeffery III is in the green, up about 1.3% on their purchase based on today’s trading high of $145.89.
Executives Sell Over $50M Of 4 Stocks (Benzinga)
Interactive Brokers Group: The Trade: Interactive Brokers Group, Inc. (IBKR) Chairman Thomas Peterffy disposed a total of 33,000 shares at an average price of $73.61. The insider received around $2.43 million as a result of the transaction. AGNC Investment: The Trade: AGNC Investment Corp. (AGNC) Director, Executive Chairman Gary Kain sold a total of 832,034 shares at an average price of $14.03. The insider received around $11.67 million from selling those shares. Holley: The Trade: Holley Inc. (HLLY) Director James D Coady sold a total of 3,000,000 shares at an average price of $11.20. The insider received $33.6 million as a result of the transaction.
