Hedge Fund and Insider Trading News: Soleus Capital, Voss Capital, Starboard Value, ZX Squared Capital, Man Group, Ryan Specialty Holdings Inc (RYAN), Charles Schwab Corporation (SCHW), and More

Biopharma Funds Regain Some Health (Institutional Investor)
At least one fund is in the black, and several others moved closer to breakeven in October. A number of biopharma hedge funds enjoyed a healthier October. These were led by the Soleus Capital Master Fund, which moved back into the black after gaining 5 percent for the month. It is now up nearly 3 percent for the year, according to two investors.

Thunderbird Entertainment Group Addresses False Statements Made by Hedge Fund Voss Capital, LLC and Confirms Annual Meeting Will Be Held in Early 2023 (BusinessWire)
Thunderbird Entertainment Group Inc. (TSXV: TBRD, OTCQX: THBRF) (“Thunderbird” or the “Company”) is correcting the record today regarding false statements made by Texas-based hedge fund Voss Capital, LLC (“Voss”) in its most recent press release. Thunderbird also announced that it will hold its annual general meeting of shareholders (the “Meeting”) in the first quarter of 2023.

Man Group Readies Crypto Hedge Fund Despite FTX Chaos (Bloomberg)
Man Group Plc is close to starting a dedicated cryptocurrency hedge fund, delving deeper into a market that’s reeling from the collapse of exchange operator FTX. The world’s largest publicly-traded hedge fund firm has been developing the strategy led by money manager Andre Rzym for months, according to people with knowledge of the matter.

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FTX Will be the Last Giant to Fall this Cycle: Hedge Fund Co-founder (Coin Telegraph)
This bear market has seen the collapse of Celsius, Three Arrows Capital, Voyager, and now FTX, but the worst is likely over, a hedge fund executive suggests. While the FTX crisis is continuing to unfold, the former head of risk at Credit Suisse believes the exchange’s fall from grace should be the last catastrophic event — at least in this market cycle. CK Zheng, the former head of valuation risk at Credit Suisse and now co-founder of crypto hedge fund ZX Squared Capital said that FTX’s fall was part of a “deleveraging process” that began after the COVID-19 pandemic and further accelerated after the fall of Terra Luna Classic (LUNC), formerly Terra (LUNA).

Hedge Fund Starboard Value Cuts Stake in CommVault Systems (CVLT) (Nasdaq.com)
Fintel reports that Starboard Value LP has filed a 13D/A form with the SEC disclosing ownership of 2,719,857 shares of CommVault Systems, Inc. (CVLT). This represents 6.1% of the company. In their previous filing dated July 6, 2022 they reported 3,802,375 shares and 8.50% of the company, a decrease in shares of 28.47% and a decrease in total ownership of 2.40% (calculated as current – previous percent ownership).