Hedge Fund and Insider Trading News: Mike Novogratz, Delbrook Capital, Citadel LLC, Millennium Management, Installed Building Products Inc (IBP), Boyd Gaming Corporation (BYD), and More

Zombies, NFTs and the Metaverse: Galaxy Digital’s Sam Englebardt (CoinTelegraph)
Sam Englebardt has produced zombie films, created Gold Class cinemas in Australia and hobnobbed with crypto pioneers in the early days. Now he’s investing half a billion dollars into the creation of the metaverse. Galaxy Interactive managing partner Sam Englebardt first met billionaire and former hedge fund manager Mike Novogratz during a whirlwind, celebrity-studded trip to Haiti in 2016. Englebardt’s fiance, Megan, had invited him down at the last minute for a shindig put on by Artists For Peace and Justice.

Quant Hedge Fund: “We Want to Hire the Top 0.1%” (eFinancialCareers.com)
If you’re a quant in the finance space, you’re probably already very familiar with hedge fund WorldQuant. Spun out of Millennium Management in 2007 and founded by Igor Tulchinsky, it’s at the forefront of quantitative trading methods. Big names cluster there: last year, Gary Chropuvka, the former head of quantitative investment strategies at Goldman Sachs joined as president, and Google scientist Yoram Singer joined to work on AI driven trading signals.

Hedge Funds are Keeping their Interns Remote – with One Exception. Here are the Summer Plans for Managers Like Citadel, Millennium, DE Shaw, and More. (Business Insider)
Last year, billionaire Ken Griffin‘s Citadel rented out resorts for interns to come and get a month-long in-person experience. This year, the $35 billion hedge-fund manager is planning for another in-person experience, though the details have not been hammered out just yet, a source tells Insider.

Former SAC Capital Portfolio Manager Tor Minesuk's Top 10 Stock Picks for 2021

Rawpixel.com/Shutterstock.com

A New Dawn (Hedge Nordic)
Stockholm (HedgeNordic) – Hedge funds are the favored asset class to enhance the traditional 60/40 asset-allocation portfolio – the mix of 60 percent equities and 40 percent bonds, according to a survey conducted by Credit Suisse from December 2020 to mid-February among institutional investors. Credit Suisse’s 2021 Hedge Fund Investor Survey, entitled “A New Dawn,” surveyed over 200 institutional investors representing about $800 billion in hedge fund investments.

Specialist Hedge Fund Delbrook Eyes Industrial Metals and Materials for Recovery Trades (Hedge Week)
Industrial metals and bulk materials stand to gain from the nascent post-Covid economic recovery according to metals and mining-focused hedge fund Delbrook Capital, while precious metals trades – an investor favourite during market uncertainty – could be starting to run out of steam. The Vancouver-based firm’s long/short equity-focused strategy, the Delbrook Resource Opportunities Master Fund, generated a 5.3 per cent return last month, posting gains across both long and short positions, with the positive momentum continuing into March.

Helicopter-Lease Shop Circles ESG Strategy (Green Street)
The operator of a novel fund that buys and leases out helicopters is starting two new vehicles, including the first in the sector to adhere to environmental, social and governance principles. Thora Capital is aiming to raise about $100 million for that offering, Thora Capital Climate Impact Fund 1. At the same time, the Chicago firm is setting out to collect a few hundred million dollars for the follow-up to its debut fund, a 2019-vintage entity called Thora Capital Fund 1 that took in $85 million. Oakpoint Advisors is serving as placement agent for the new funds. At the same time, Thora is discussing the vehicles’ terms with investors while casting an eye toward holding their initial equity closes in the second or third quarter.

Hedge Fund Industry Performance was Broadly Positive in February (Opalesque.com)
Opalesque Industry Update – Industry performance was broadly positive in February 2021 with 80% of products reporting to eVestment reporting gains during the month. While the average positive result was high (+4.51%), it has been surpassed by four other months in the course of the prior twelve. Since post-pandemic onset in March 2020, the industry has produced aggregate returns of nearly 20%, which is the best 12-month return period for the industry since at least 2011. Equity market exposures produced the best average returns in February followed by commodities, but it is Origination & Financing products which have produced the largest primary strategy returns YTD.

Wednesday 3/17 Insider Buying Report: VICI, ADM (Nasdaq.com)
On Tuesday, VICI Properties’s Director, James R. Abrahamson, made a $373,032 purchase of VICI, buying 13,200 shares at a cost of $28.26 each. VICI Properties is trading up about 1.2% on the day Wednesday. Before this latest buy, Abrahamson purchased VICI on 2 other occasions during the past twelve months, for a total cost of $373,442 at an average of $24.73 per share. And at Archer Daniels Midland, there was insider buying on Friday, by Senior Vice President Jennifer L. Weber who purchased 5,095 shares at a cost of $58.40 each, for a total investment of $297,551. This buy marks the first one filed by Weber in the past year. Archer Daniels Midland is trading off about 0.7% on the day Wednesday. Bargain hunters can bag ADM even cheaper than Weber did, with the stock trading as low as $57.31 in trading on Wednesday which is 1.9% below Weber’s purchase price.

Installed Building Products Inc (IBP) President, CEO and Chairman Jeffrey W. Edwards Sold $33.1 million of Shares (Guru Focus)
President, CEO and Chairman of Installed Building Products Inc, Jeffrey W. Edwards, sold 300,000 shares of IBP on 03/12/2021 at an average price of $110.25 a share. The total sale was $33.1 million. Installed Building Products Inc is engaged in the installation of insulation, garage doors, rain gutters, shower doors, closet shelving and mirrors, and other products in the continental United States.

The EVP, CFO & Treas of Boyd Gaming (NYSE: BYD) is Selling Shares (Analyst Ratings)
Yesterday, the EVP, CFO & Treas of Boyd Gaming (BYD), Josh Hirsberg, sold shares of BYD for $2.4M. In addition to Josh Hirsberg, 7 other BYD executives reported Sell trades in the last month. Following Josh Hirsberg’s last BYD Sell transaction on March 10, 2021, the stock climbed by 1.5%.