Hedge Fund and Insider Trading News: Glen Kacher, Third Point LLC, Invenomic Capital Management, GSA Capital, Riley Exploration Permian Inc (REPX), Vicor Corp (VICR), and More

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Naked Wines Surges After Hedge Fund Pitch on CNBC (Seeking Alpha)
Naked Wines PLC (OTCQX:NWINF) jumped 100% after Light Street‘s Glen Kacher pitched the wine company on CNBC. Kacher, who pitched the idea at a Sohn Investment conference in San Francisco yesterday, said the stock has the potential to quadruple in the next few years.

Oil Giant Shell Misses on Third-Quarter Profit as Dan Loeb Calls for the Company to Break Up (CNBC)
LONDON — Oil giant Royal Dutch Shell on Thursday reported weaker-than-expected third-quarter earnings as New York-based hedge fund Third Point called on the energy major to break up. Shell also announced it had set itself a bigger carbon reduction target. The Anglo-Dutch company posted adjusted earnings of $4.1 billion for the three months through to the end of September. That compared with $955 million over the same period a year earlier and $5.5 billion for the second quarter of 2021.

Hedge Fund Manager Set Up Irish Fund to Carry Out Cum-ex Scheme (The Irish Times)
A Dubai-based hedge fund manager set up a fund in Ireland to claim tens of millions of euro in tax refunds from European authorities in trades now under investigation for suspected tax evasion. The trades were part of a scheme known as cum-ex, which allowed a network of traders, hedge funds, asset managers and banks to claim multiple refunds on dividend withholding tax that was only paid once, or not at all, through a series of complex financial transactions.

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Billion-Dollar Quant Hedge Fund Invests $2.6 Billion in Crypto (Micky)
GSA Capital, the $2.6 billion quant hedge fund, joins Steve Cohen, and Alan Howard in a bid to profit from the market’s well-known volatility and inefficiencies. That is, assuming Chris Taylor, an American football player, and his fellow fast-money speculators survive the next crash unscathed. The 16-year-old fund employs the same systematic trading techniques that enabled it to profit in the traditional stock, derivatives, and currency markets. Taylor stated that the General Services Administration (GSA) began trading crypto assets formally in August.

Hedge Fund Performance Monitor: September 2021 (Preqin)
After a strong August, hedge funds performed poorly in September. The Preqin All-Strategies Hedge Fund benchmark dropped 1.20% to wipe out most of the gains it recorded the previous month. Read our Performance Monitor for a look at how equity, credit, macro, and niche hedge fund strategies performed in August. The Monitor presents hedge fund performance benchmarks, plus the YTD and 12-month return figures for all top-level strategies, structures, denominations, and size classifications.

Value-Focused US Long/Short Manager Invenomic Launches UCITS Strategy (Hedge Week)
Boston-headquartered Invenomic Capital Management has launched a new UCITS version of its US-focused long/short equities strategy. The Invenomic US Equity Long/Short UCITS Fund rolled out last month on fund structuring and governance service provider Waystone’s MontLake UCITS Platform ICAV. The strategy launched with USD35 million in assets, with a steady pipeline ramping up to USD100 million. The strategy, which replicates Invenomic’s existing offshore fund, invests in a diverse range of market caps in US equities, trading long and short with a fundamental approach to stock-picking and a strong value bias, using quantitative analysis.

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