Hedge Fund and Insider Trading News: Ken Griffin, Kyle Bass, Steve Cohen, ARK36, Borea Asset Management, Whale Rock Capital Management, Elliott Management, Clene Inc. (CLNN), and More

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Steve Cohen’s Point72 Lagged Behind Multistrategy Peers With 1.3% January Drop (Bloomberg)
Steve Cohen’s Point72 Asset Management lost money in January, making it an outlier as several multistrategy hedge funds posted gains during a volatile start of the year for stocks. Point72 fell 1.3% last month, according to people familiar with the matter. A spokesman for the $24.2 billion hedge fund firm declined to comment. Gabe Plotkin’s Melvin Capital Management, in which Point72 has invested, tumbled 15% in January.

Ken Griffin’s Citadel Flagship Hedge Fund Gains Nearly 5% During January’s Tech Rout (CNBC)
Billionaire investor Ken Griffin’s hedge funds crushed the market in January as a spike in volatility and a steep sell-off in growth stocks created an ideal environment for fast-money traders. Citadel’s multistrategy flagship fund Wellington gained 4.71% last month, according to a person familiar with the returns.

Here are the Hedge-Fund Winners and Losers After a Brutal January for Growth Stocks – from Melvin Capital to Citadel and AQR (Business Insider)
January’s market mayhem wasn’t painful for every hedge fund manager. While funds focused on growth stocks, especially in the tech and software sectors, were hit hard during the month’s sell-off, several macro managers and multi-strategy firms came out with strong months, regardless of market conditions.

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Investor Kyle Bass Pivots to Green Credits, Returned Cash from Hedge Fund (Reuters)
(Reuters) – Investor Kyle Bass, who spent much of his career betting on sovereign debt crises and interest rates, is shifting focus from hedge funds to the environment with a firm that will buy rural land and create environmental mitigation offsets. The new firm, Conservation Equity Management, was officially launched on Thursday and plans to rebuild wetlands, streams, and endangered species habitats to help create offsets, or tradable credits, to diminish the ecological damage from development. These types of credits are highly sought after by large corporations and developers which generate emissions in their businesses but are pledging to cut or offset them.

Growth Hedge Funds Suffer Worst Rout in Years (The Wall Street Journal)
Stock markets’ selloff in January dealt double-digit losses to a range of hedge funds investing in technology and other fast-growing companies, sparking questions about whether a popular and lucrative strategy for these firms is running out of steam. Whale Rock Capital Management’s hedge fund lost 15.9% for the month in the share class that invests in public and private companies, following a 9% loss last year, according to a person familiar with the firm. Tiger Global Management’s hedge fund, which also lost money last year, lost 14.8% for the month, another person said. Melvin Capital Management and Light Street Capital Management both lost 15% following double-digit losses in 2021, clients said.

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