Hedge Fund and Insider Trading News: David Tepper, Warren Buffett, Man Group, Archegos Capital Management, Millennium Management, Oaktree Capital Management, Nucor Corporation (NUE), and More

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These Are The Top Ten Stock Holdings Of David Tepper (Entrepreneur)
David Tepper is among the greatest hedge fund managers ever. He left Goldman Sachs (head of the junk bond desk) and founded Appaloosa Management in 1993. Tepper’s company now manages around $13 billion, down from a peak of $20 billion. He acquired Carolina Panthers professional football team for $2.3 billion in 2018. Tepper’s hedge fund has given an average annual return of about 25% since its inception through 2018. Tepper is known for his investment in depressed bank securities at the time of the financial crisis. This investment helped Appaloosa earn a return of 132% in 2009. Let’s take a look at the top ten stock holdings of David Tepper.

Robinhood Is Not the Only IPO This Week (Institutional Investor)
While investors await the high-profile brokerage firm’s offering, Viking, Citadel and a handful of other hedge fund firms are closely watching more than two dozen other companies go public. All IPO investor eyes are on Robinhood Markets’ initial public offering later this week. But the very popular retail brokerage is just one among at least 26 companies that set terms for their IPOs and are planning to go public this week, according to Renaissance Capital.

Oaktree Takes Stake in Galway Sustainable Capital (Opalesque)
The global alternative investment management firm Oaktree Capital Management made a minority equity investment and provided a new multiyear credit facility for the ESG Investor Galway Sustainable Capital (GSC). Under the terms of the deal, GSC secured an investment of $265m for a minority equity stake and closed a new, multi-year, multi-tranche credit facility with Oaktree. GSC is private equity-backed by lead investor Cordillera Investment Partners. GSC was founded in 2020 by three experienced ESG professionals who collectively bring over 50 years of expertise in structured finance, sustainable infrastructure, and yield-oriented investments.

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Millennium Strikes Again, Poaching a Star Equities Trader from JPMorgan Amid Feverish Demand for Volatility Strategies (Business Insider)
Millennium has struck again, raiding another sell-side desk to acquire a new portfolio manager for its growing volatility-trading business. The target this time was JPMorgan, one of the industry’s best derivatives trading outfits and a firm that until recently had been shielded from the buy-side poaching war that afflicted rivals. Borzu Masoudi, head of equity macro derivatives at JPMorgan, has resigned to join Millennium, according to sources familiar with the matter.

No One is Shorting (Hedge Nordic)
Stockholm (HedgeNordic) – The year-long reflation trade – the bet that smaller, cheaper, economically-sensitive stocks will rise and traditionally safer bonds, bond-like stocks and other rate-sensitive securities will suffer – “has left stocks looking extremely expensive compared to bonds,” according to a market commentary by Man Group. The reflation has also driven short sellers away from the market, with the level of shorting activity hitting the lowest level since 2006.

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