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.
Credit Suisse’s Archegos Inquiry Rips Bank’s Due Diligence (Bloomberg)
Credit Suisse Group AG failed to properly monitor tens of billions of dollars of exposure that piled up while handling trades for Archegos Capital Management that generated relatively little revenue, according to people briefed on the findings of the bank’s internal inquiry. The report into how the bank lost about $5.5 billion tied to the collapse of Bill Hwang’s family office paints a picture of due diligence failings as employees chased business that made little economic sense, the people said, asking not to be identified because the conclusions aren’t yet public. Credit Suisse will probably post findings alongside earnings on Thursday.
Preqin Quarterly Update: Hedge Funds, Q2 2021 (Preqin)
After a strong 2020 and Q1 2021, hedge funds continued their momentum into the second quarter. The Preqin All-Strategies Hedge Fund benchmark returned +7.42% in Q1 and +4.20% in Q2. In fact, the asset class was positive in every month in H1 2021 – this has occurred only four times in the past 25 years. In terms of strategies, equity strategies went up 5.97% – more than any other top-level strategy. Credit had the lowest performance but still managed to return 2.07% to investors.
Anthem, Humana Join Hedge Fund to Launch PBM (Medcity News)
The hedge fund SS&C Technologies Holdings will be the majority stakeholder, while the two payers will each hold a minority interest in the PBM, dubbed DomaniRx. The joint venture will develop a claims adjudication platform to support its operations. Anthem and Humana have entered into a joint venture with hedge fund and private equity administrator SS&C Technologies Holdings to create DomaniRx, a pharmacy benefit manager.
Warren Buffett’s Next ‘Elephant-Sized’ Acquisition May Face Antitrust Risks After Regulators Tanked 2 Megadeals this Month (Business Insider)
Warren Buffett has been hunting for his next “elephant-sized” acquisition for several years now. The famed investor and Berkshire Hathaway CEO may think twice about pulling the trigger after seeing two billion-dollar deals collapse this month. Berkshire’s energy unit struck a $10 billion deal to buy Dominion Energy’s natural gas transmission and storage business last summer. After completing the bulk of the transaction in November, it scrapped its plan to buy the Questar Pipeline Group from Dominion for $1.7 billion earlier this month.
The CFO, Treasurer and EVP of Nucor (NYSE: NUE) is Selling Shares (Analyst Ratings)
Today, the CFO, Treasurer and EVP of Nucor (NUE), James Frias, sold shares of NUE for $554.3K. Following James Frias’ last NUE Sell transaction on April 29, 2021, the stock climbed by 16.3%. In addition to James Frias, one other NUE executive reported Sell trades in the last month. Based on Nucor’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $8.79 billion and quarterly net profit of $1.51 billion.
SEBI Imposes Rs 3 Lakh Fine on Shilpa Shetty and Raj Kundra for Insider Trading (The Indian Express)
Capital Markets regulator Securities and Exchange Board of India (SEBI) imposed a fine of Rs 3 lakh on Shilpa Shetty, Raj Kundra and Viaan Industries, the company they own, violating its insider trading rules. The Bollywood actor, her businessman husband and their company delayed a mandatory disclosure to stocks exchanges by more than three years.
Snap Inc (SNAP) CEO Evan Spiegel Sold $75 million of Shares (Guru Focus)
CEO of Snap Inc, Evan Spiegel, sold 991,465 shares of SNAP on 07/27/2021 at an average price of $75.65 a share. The total sale was $75 million.
