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Hedge Fund and Insider Trading News: T. Boone Pickens, Steve Cohen, Jana Partners and More

T. Boone Pickens Closes Energy Hedge Fund, Cites Diminishing Health (CNBC)
Legendary energy investor T. Boone Pickens is shutting the doors on his energy hedge fund, BP Capital. Pickens cited declining health as a reason for closing the fund. “It’s no secret the past year has not been good to me, from a health perspective or a financial one,” Pickens said in a confidential letter obtained by CNBC. “Health-wise, I’m still recovering from a series of strokes I suffered late last year, and a major fall over the summer. If you are lucky enough to make it to 89 years of age like I have, those things tend to put life in perspective.”

Rosenstein’s Jana Sees Assets Plunge in Half in Two Years (Bloomberg)
Jana Partners, the event-driven hedge fund run by Barry Rosenstein, has lost more than half its assets in about two years as performance waned. Jana managed $4.6 billion firmwide as of December, down from $11 billion in August 2015, according to an investor letter seen by Bloomberg. The Jana Partners Fund gained 5.6 percent last year and 2.3 percent in 2016, lagging behind the HFRI event-driven index in both periods.

Wall Street Stocks Market Insider Trading

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Bridgewater Billionaire Ray Dalio’s Quest for ‘Radical Transparency’ (Financial Times)

It is high noon in the saloon of the Jackson Hole burger bar in midtown Manhattan and I am butting heads with Ray Dalio, head of the world’s largest hedge fund. A few minutes earlier, the famed financier had turned up for lunch, trailing a spokesman who asked to join our meal and “check” any quotes.
“No!” I tell Dalio. He cuts a discreet figure in slacks and an expensive-looking cardigan but his stance is confident and forceful, as you might expect from a “master of the universe”.

Cohen Loses Another Top Trader Before Hedge Fund Launches (Bloomberg)
Steve Cohen’s new hedge fund is hitting a little turbulence. One of Point72 Asset Management’s senior staff — Jeff Miller, co-head of U.S. trading — has left the firm, according to people familiar with the matter who asked not be identified. Miller had spent more than a decade working for Cohen. He follows global head of trading Phil Villhauer, who, as Bloomberg News reported in October, was leaving after 15 years.

Oil Prices Ease from 3-Year Highs After Brent Crude Rockets Above $70 a Barrel (CNBC)
“I think it starts to get difficult for us to get much higher from here,” said John Kilduff, founding partner at energy hedge fund Again Capital. “I think we’re probably in the process of topping out as we speak.” Kilduff forecast last week that Brent would take aim at $70 a barrel and U.S. crude could break into the $65-$67 range. But high prices will tempt OPEC members and other producers to start pumping, he said.

Bill Ackman Slashes the Annual Management Fee for Pershing Square Hedge Fund (

Activist investor Bill Ackman said he would slash the 1.5 percent annual management fee for his hedge fund Pershing Square Holdings Ltd. Management fees for hedge funds typically range from 1 percent to 4 percent each year. According to a letter posted to the Pershing Square (OTC:PSHZF) website, Ackman says he will be reducing future management fees for all of the funds which incurred recent litigation expenses by a total of $32.2 million.

Clint Carlson‘s Hedge Fund Belongings Drop $1 Billion in 5 Months After Brutal Efficiency (Kaplan Herald)
Carlson Capital‘s hedge fund assets dropped by $1 billion in five months. The firm‘s Black Diamond Thematic fund lost 22.1% last year, with assets dropping more than $300 million from August to December. Assets at Clint Carlson‘s investment firm have dropped by nearly $1 billion in five months, client documents show. The Dallas-based hedge fund managed $8.2 billion firmwide at the start of 2018, down from $9.1 billion in August 2017, according to documents seen by Business Insider.

General Motors Company (GM): Insider Trading and Ownership Analysis (Economics And Money)
General Motors Company (NYSE:GM) has seen its stock price gain 2.01, or +4.90%, so far in 2017. In the past 3-month period alone, shares of GM have appreciated -2.21 – or -4.89%. The stock’s 52-week range is $31.92 to $46.76, and its 3-month range is $40.70 to $46.76. The average Wall Street analyst rating for General Motors Company is Hold, according to the average of 15 analyst scores. Of those analysts, 7 rate stock as a Strong Buy, 7 rate it as Hold, and just no analyst rates it as a Moderate Sell.

Insider Trading Activity Carnival Corporation (NYSE:CCL) – CEO Sold 3,000 shares of Stock (Market Exclusive)
Arnold W. Donald , CEO of Carnival Corporation (NYSE:CCL) reportedly Sold 3,000 shares of the company’s stock at an average price of 68 for a total transaction amount of $204,000.00 SEC Form.

Sterling Construction Company, Inc. (STRL) Recently Sold by Insider Hemsley Maarten D (Post Analyst)
Multiple company employees have indulged in significant insider trading. Sterling Construction Company, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Director Hemsley Maarten D has sold 200 shares of Sterling Construction Company, Inc. (STRL) in trading session dated Dec. 18, 2017. These shares are worth $3,492 and were traded at $17.46 each. The SEC filing shows that Hemsley Maarten D performed a sale of 29,800 shares. The Director disposed these shares by way of transaction on Dec. 15, 2017. The company’s shares were given away at $17.32 per share worth to an income of some $516,136 on account of Hemsley Maarten D.

Insider Trade: Community Health Systems, Inc. (CYH)’S Major Shareholder Tian Chen Invested In 995,551 Shares; Hamilton Point Investment Advisors Lowered Bard C R (BCR) Position By $343,040 (Hill Country Times)
Tian Chen, the well informed person, who serves as a major shareholder of Community Health Systems Inc paid for just 995,551 shares of the firm valued by the market at around $3.95 million US Dollars [Bold1][Based1] 4.0 US Dollars per share. This is not his first insider trade, in the last month, he obtained another 981,076 shares worth $3.91 million USD. The stock deal by Mr. Tian – was recorded on 11-01-2018 and disclosed in a SEC’s document available here. Having been a very huge insider purchase at Community Health Systems Inc, the probability that it stays a secret for long was obviously very low.

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