Hedge Fund Bridgewater Makes $22 Billion Bet Against European Firms (Reuters)
LONDON/FRANKFURT/NEW YORK (Reuters) – Bridgewater Associates has shown its hand in Europe with a $22 billion bet against some of the continent’s biggest companies, filings reviewed by Reuters show, part of a bigger shift by the world’s largest hedge fund manager. Although data was not available to show whether Bridgewater holds more European stocks than it “shorts” overall, an investor in the hedge fund firm’s Pure Alpha Major Markets strategy said that its position was slightly net “long” on Feb. 6. But Bridgewater had reduced that long exposure significantly this year, the investor added. Bridgewater, which declined to comment on its trading, bets on macro-economic events and has $160 billion under management.
Singer’s Elliott Management Cuts Alcoa Stake, Soros Exits (Bloomberg)
Paul Singer’s Elliott Management Corp. pared its stake in Alcoa Corp. by almost two-thirds last quarter and billionaire George Soros’s hedge fund exited. By the end of December, Elliott Management owned 2.9 million shares in Alcoa, compared with 8.3 million the previous three months, a regulatory filing showed. Elliott Management was the third-largest Alcoa shareholder as of the third quarter. Soros Fund Management LLC sold all its remaining 123,787 stake in the aluminum producer in the fourth quarter, a separate filing showed.
Einhorn’s Greenlight Capital Reports New Stakes in Handful of Big Retailers (CNBC)
David Einhorn‘s Greenlight Capital hedge fund reported new holdings in several big retailers as of the end of December. The fund reported new stakes in nearly two dozen companies, including a 6.2 million share stake in department store operator J.C. Penney, 125,000 shares in Nordstrom and 132,000 shares in Kohls. Greenlight also disclosed a new 103,000 share stake in Signet Jewelers, 451,000 shares in Under Armour, and 103,000 shares in Best Buy. In the same period, Greenlight dissolved stakes in Monsanto, Rite Aid, Hewlett Packard and Kroger.
Amazon Becomes Biggest Position at Steven Cohen’s Point72 (Bloomberg)
Steve Cohen’s family office, which is in the midst of transforming into a hedge fund, boosted Amazon.com Inc. into its biggest disclosed U.S. stock holding as of the end of the year. Point72 Asset Management increased its stake in the online retailer by more than 12 percent, or about 36,000 shares, leaving it with a market value of $383.1 million, according to a regulatory filing on Wednesday. Amazon was Point72’s third-largest stock holding in the third quarter, topped by Time Warner Inc. and Altaba Inc., but the firm ramped down both of those positions. Now its second- and third-biggest holdings are in Anadarko Petroleum Corp. and Electronic Arts Inc.
David Tepper’s Hedge Fund Bets on T-Mobile, Reduces Stake in Southwest Airlines (CNBC)
David Tepper‘s Appaloosa Management is betting on T-Mobile, while cutting back on its investment in Southwest Airlines. The hedge fund disclosed in a Wednesday filing a nearly 3.86 million-share stake in T-Mobile in the fourth quarter of last year. Appaloosa also reduced its holding in Southwest Airlines by nearly 700,000 shares, to 74,265 shares. Both stocks are lower so far this year. T-Mobile is off 7.7 percent. Southwest shares are down 11.8 percent for 2018.
Paulson Maintained SPDR Gold Stake as Dollar Boosted Metal (Bloomberg)
Billionaire hedge-fund manager John Paulson maintained his holding last quarter in SPDR Gold Shares, before prices of the metal capped the biggest annual gain in seven years. As of Dec. 31, New York-based Paulson & Co. kept his stake in SPDR Gold, the biggest exchange-traded product backed by bullion, at 4.36 million shares for a fifth straight quarter. Bridgewater Associates, the world’s largest hedge fund, added to its stake in the ETF, according to a filing on Tuesday.
Jana Takes New Stakes in Comcast, Facebook, GM; Drops Oracle (Bloomberg)
Jana Partners, the sometimes-activist fund run by Barry Rosenstein, took new stakes in Comcast Corp., Facebook Inc. and General Motors Co. during the fourth quarter while exiting Salesforce.com Inc. and Oracle Corp. The New York-based hedge fund also took new positions in Syneos Health Inc., Envision Healthcare Corp. and WW Grainger Inc., according to a regulatory filing Wednesday. It said it exited DXC Technology Co., Altaba Inc. and UnitedHealth Group Inc.
Moore Capital Bought Wynn Resorts, Other Casino Stocks Before Steve Wynn Resigned (CNBC)
Louis Bacon‘s Moore Capital Management bet on casino stocks in the fourth quarter of last year, filings show. The hedge fund took a new, 50,000 share stake in Wynn Resorts, a 1.88 million share stake in Caesars Entertainment and a 100,000 share stake in Boyd Gaming, according to a required quarterly filing Wednesday with the U.S. Securities and Exchange Commission. The information is at least 45 days old and may not reflect the fund’s current holdings.
Third Point Reveals Stakes in Netflix, Intercontinental Exchange (Bloomberg)
Dan Loeb’s Third Point acquired new stakes in Netflix Inc. and Intercontinental Exchange Inc. during the fourth quarter while exiting its positions in Bank of America Corp., T-Mobile US Inc. and Shire Plc. The New York-based hedge fund also added new positions in defense company General Dynamics Corp., MGM Resorts International, Pinnacle Foods Inc., Lennar Corp., health insurance firm Aetna Inc., and Dentsply Sirona Inc. during the quarter, according to a regulatory filing Wednesday. It sold stakes in Marathon Petroleum Corp., Alexion Pharmaceuticals Inc. and Banco Macro SA.
Healthequity Inc (HQY) Insider Sells $5,125,000.00 in Stock (StockNewsTimes.com)
Healthequity Inc (NASDAQ:HQY) insider Berkley Capital, Llc sold 100,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $51.25, for a total transaction of $5,125,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Insider Buying: Inspired Entertainment Inc (INSE) Major Shareholder Purchases $6,404,025.00 in Stock (LedgerGazette.com)
Inspired Entertainment Inc (NASDAQ:INSE) major shareholder Hg Vora Capital Management, Ll acquired 1,243,500 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average cost of $5.15 per share, for a total transaction of $6,404,025.00. The transaction was disclosed in a document filed with the SEC.
Insider Buying: MTech Acquisition Corp (MTECU) Major Shareholder Buys $187,500.00 in Stock (WeekHerald.com)
MTech Acquisition Corp (NASDAQ:MTECU) major shareholder Mtech Sponsor Llc acquired 18,750 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were bought at an average price of $10.00 per share, for a total transaction of $187,500.00. The transaction was disclosed in a legal filing with the SEC.
Insider Buying: Wells Fargo & Co (WFC) Director Purchases $503,820.00 in Stock (StockNewsTimes.com)
Wells Fargo & Co (NYSE:WFC) Director Ronald Sargent purchased 9,000 shares of the stock in a transaction dated Monday, February 12th. The shares were purchased at an average price of $55.98 per share, with a total value of $503,820.00. Following the completion of the transaction, the director now owns 81 shares of the company’s stock, valued at $4,534.38. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.
Insider Buying: resTORbio, Inc. (NASDAQ:TORC) Director Buys 533,333 Shares of Stock (DispatchTribunal.com)
resTORbio, Inc. (NASDAQ:TORC) Director Orbimed Advisors Llc purchased 533,333 shares of the stock in a transaction dated Tuesday, January 30th. The stock was acquired at an average cost of $15.00 per share, with a total value of $7,999,995.00. The acquisition was disclosed in a legal filing with the SEC.