Jim Simons’ RenTech Fund Quadrupled its Tesla Stake Last Quarter – and Boosted its AMC Bet by 38% (Business Insider)
Renaissance Technologies quadrupled its Tesla stake and boosted its AMC Entertainment bet by nearly 40% in the third quarter, Securities and Exchange Commission filings show. RenTech, one of the biggest and best-performing hedge funds in history, increased its Tesla holdings from about 204,000 shares to 814,000 shares. The electric-vehicle company’s stock price jumped 14% last quarter, meaning the value of RenTech’s position surged by about 360% to $631 million. As a result, Tesla was the fund’s 13th most-valuable holding as of September 30, up from 106th on the list at the end of June.
Kyle Bass Doesn’t Anticipate a Lunar Flight for Bitcoin (The Street)
You can count hedge fund heavyweight Kyle Bass, founder of Hayman Capital Management, among those who isn’t looking for Bitcoin to fly to the moon. “From here on out, it’s going to be really difficult to make money [from Bitcoin, because of] intense regulation” from the U.S. government, following China’s ban of Bitcoin earlier this year, he told Investor’s Podcast Network.
Soros Reveals Four New Bets; Raises Stakes in Property and Bank Stocks (Bloomberg)
Soros Fund Management increased its bets on real estate and financial stocks during the last quarter, while the value of its U.S. equity portfolio dipped to less than $5 billion. George Soros’s investment firm disclosed new positions in Hill-Rom Holdings Inc., MGM Growth Properties LLC, JPMorgan Chase & Co. and Goldman Sachs Group Inc., according to a regulatory filing Friday.
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U.S. Utility Duke Energy to Add Two Elliott-Backed Directors (Reuters)
Nov 15 (Reuters) – Duke Energy Corp (DUK.N) would add two directors backed by Elliott Management Corp to its board as part of a deal, the company said on Monday, after the activist investment firm had pressed the utility to conduct a strategic review. Elliott went public earlier this year with demands that Duke split into three companies focused on the Carolinas, Florida and the Midwest. The hedge fund said this plan should create $12 billion to $15 billion of near-term value for shareholders.
What’s Behind Sachem Head’s Surge? (Institutional Investor)
Scott Ferguson’s activist fund is being led by several of its largest positions. Sachem Head Capital Management is well on its way to another very successful year.According to a person who is familiar with the results, the activist hedge fund headed by Scott Ferguson was up more than 30 percent for the year through October, easily outperforming the market averages.
Hedge Fund Short Sellers Ramp up Bets Against Hargreaves Lansdown(Hedge Week)
Hedge funds are ramping up their negative positions against Hargreaves Lansdown, with the UK retail-focused investment and advisory firm now the most shorted stock among FTSE 100 names, new market data from Ortex Analytics shows. Some 7.24 per cent of Hargreaves Lansdown’s free float shares are on loan, up from 6.52 per cent last month, with the firm also the most shorted FTSE 100 name in terms of days to cover, London-based equity research and short interest data provider Ortex has found.
Finding “Superstar” Needles in a Haystack (Hedge Nordic)
Stockholm (HedgeNordic) – History shows that most stock market returns usually come from a tiny fraction of companies. In the past decade or so, a handful of technology heavyweights – such as Apple, Facebook, Amazon, Microsoft, Netflix, and Google’s parent company, Alphabet – have carried the S&P 500 on their shoulders. Ernst Grönblom, the architect of a high-conviction strategy – currently powering equity fund UB Thales Argo – that previously propelled HCP Focus to the top of BarclayHedge’s and Citywire’s rankings of the world’s best long-only equity funds, argues that this phenomenon to a large extent explains the longer-than-expected – “anomalistic” – run of outperformance of growth stocks against their value counterparts.
A Retail Trader Who Quadrupled Her AMC Holdings to Half a Million Dollars is Trolling Citadel’s Ken Griffin with Plane Banners and Truck Ads (Business Insider)
One retail trader isn’t letting up on her trolling campaign against Citadel Securities and its founder, Ken Griffin. The trader, 40-year-old Katherine Larsen of Oceanside, California, has bought mobile truck ads, plane banners, and Times Square digital billboards in an effort to elevate views of retail traders who feel they were harmed when Robinhood halted trading of meme stocks like GameStop and AMC, according to a profile from Institutional Investor.
Notable Regional Management Insider Trades $2.1M In Company Stock (Benzinga)
Brian Fisher, Insider at Regional Management (NYSE:RM), made a large buy and sell of company shares on November 12, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that Brian Fisher exercised options to purchase 34,287 Regional Management shares at prices ranging from $14.75 to $17.76 per share for a total of $538,327 on November 12. They then sold their shares on succeeding transactions in the open market. They sold at prices ranging from $60.21 to $60.44 to raise a total of $1,547,444 from the stock sale.
The Principal Accounting Officer of Aon (NYSE: AON) is Selling Shares (Analyst Ratings)
On November 12, the Principal Accounting Officer of Aon (AON), Michael Neller, sold shares of AON for $745.3K. Following Michael Neller’s last AON Sell transaction on March 18, 2021, the stock climbed by 77.1%. In addition to Michael Neller, one other AON executive reported Sell trades in the last month. Based on Aon’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $2.7 billion and GAAP net loss of -$900,000,000.
Monday 11/15 Insider Buying Report: LGF.B, ABCL (Nasdaq.com)
On Wednesday, Lions Gate Entertainment’s Director, Gordon Crawford, made a $1.57M purchase of LGF.B, buying 100,000 shares at a cost of $15.71 a piece. So far Crawford is in the green, up about 6.2% on their buy based on today’s trading high of $16.68. Lions Gate Entertainment is trading up about 3.6% on the day Monday. This purchase marks the first one filed by Crawford in the past twelve months. And on Thursday, Chief Financial Officer Andrew Booth purchased $993,130 worth of AbCellera Biologics, purchasing 67,500 shares at a cost of $14.71 a piece. AbCellera Biologics is trading up about 8.5% on the day Monday. Booth was up about 14.0% on the buy at the high point of today’s trading session, with ABCL trading as high as $16.77 at last check today.
Knowles Corp (KN) President & CEO Jeffrey Niew Sold $2.6 Million of Shares (Guru Focus)
President & CEO of Knowles Corp, Jeffrey Niew, sold 121,396 shares of KN on 11/12/2021 at an average price of $21.62 a share. The total sale was $2.6 million.
