Hedge Fund and Insider Trading News: Doug Kass, Carl Icahn, Element Capital Management, Macellum Capital Management, AQR Capital Management, QQM Fund Management, Leslie’s Inc (LESL), and More

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Why Hedge-Fund Manager Doug Kass Says His Bearish Case is Now Stronger and Dip Buyers Should Bide Their Time (MarketWatch)
For equity dip buyers still waiting in the wings, hedge-fund manager Doug Kass suggests holding fire for now as better bargains, and unfortunately worse times, are ahead. “It is my view that the odds favor that the rally over the last two days of January and into the first week of February, may have been a Bear Market rally and the first shot across the market’s bow – providing a great trading opportunity but not likely the basis for a new Bull Market leg,” said the president of hedge fund Seabreeze Partners Management, in a note to clients.

Element Made a Big Fourth-Quarter Bet on Equities (Institutional Investor)
The macro giant headed by Jeffrey Talpins established 36 new long positions. Element Capital Management sharply increased the size of its U.S. stock portfolio in the fourth quarter.The macro hedge fund firm headed by Jeffrey Talpins held more than $1.55 billion in U.S. equities as of December 31, 2021, according to its latest 13F filing, made public Wednesday.

Macellum Ramps Up Pressure at Kohl’s With 10-Director Slate (Bloomberg)
Activist investor Macellum Capital Management has nominated 10 directors in an effort to take control of Kohl’s Corp.’s board, arguing the retailer’s leadership “appears to be botching a sale process.” Jonathan Duskin, Macellum’s managing partner, said in a letter to shareholders Thursday that the board’s rejection of two takeover proposals at a substantial premium last week, along with the adoption of an “onerous” poison pill, suggests it’s no longer acting impartially or objectively.

QQM Ready for Fintech Era (Hedge Nordic)
Stockholm (HedgeNordic) – In June of last year, Swedish fintech company Nowonomics announced an agreement to acquire a 72 percent stake in hedge fund boutique QQM Fund Management via a non-cash stock issue. With the Swedish Financial Supervisory Authority, Finansinspektionen, approving the deal back in October, Nowonomics has now completed the acquisition after meeting all required conditions.

IFF Reaches Settlement Agreement With Carl Icahn (The Wall Street Journal)
International Flavors & Fragrances Inc. reached a settlement agreement with activist investor Carl Icahn that will add a new director to the big ingredient maker’s board. As part of the agreement unveiled Wednesday with the company’s earnings, IFF is adding Barry Bruno, the chief marketing officer of consumer-goods company Church & Dwight Co. , as an independent director.

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