Hedge Fund and Insider Trading News: Teleios Capital Partners, Saba Capital Management, Starboard Value L.P., Quest Diagnostics Inc (DGX), Kelt Exploration Ltd (KELTF), and More

Page 1 of 2

Saba Capital Reaches Agreement to Tender 25% of Neuberger Berman High Yield Strategies Fund Inc. Shares (Businesswire.com)
NEW YORK–(BUSINESS WIRE)– Saba Capital Management, L.P. and certain associated parties (collectively “Saba”) today announced that it has reached an agreement with Neuberger Berman Investment Advisers LLC with respect to Neuberger Berman High Yield Strategies Fund Inc. (NYSE American: NHS) (the “Fund”). Under the terms of the agreement, the Fund will commence a cash tender offer for up to 25% of the Fund’s outstanding shares of common stock at a price per share equal to 96.0% of the Fund’s net asset value (“NAV”) per share. The tender offer will expire no later than December 31, 2020. The Fund will repurchase shares tendered and accepted in the tender offer in exchange for cash.

Warren Buffett’s 8 Key Tips for Investors Include Holding Cash, Being Patient, and Treating Shares as Owning a Business, a New Study Finds (Business Insider)
Warren Buffett‘s key lessons for investors include keeping cash on hand, treating shares as pieces of a business, and reining in emotions, according to a recent academic study. The billionaire investor and Berkshire Hathaway CEO has publicly discussed numerous investing concepts over the years. Dr. Christian Koch identified eight critical ones in “Warren Buffett: A Practical Understanding of Financial Literacy Extended to Managing Investments,” an analysis he conducted for a doctoral dissertation project at University of South Florida, Tampa.

Harvard Creates Biotechnology MBA With Gift From Ex-Tiger Cub (Bloomberg)
Former Tiger Cub Chris Shumway is helping Harvard University prepare a new breed of MBAs, equally at ease on Wall Street and in the laboratory. With a $25 million gift, Shumway and wife Carrie are supporting the joint life sciences MS/MBA program at Harvard Business School that took its first 11 students in August. Three-quarters of the class is women; all were life sciences majors, and many have worked in the field.


Starboard Says It Now Owns 9% of ACI Worldwide, Stock Gains (Reuters)
BOSTON (Reuters) – Activist investor Starboard Value boosted its stake in ACI Worldwide Inc ACIW.O to 9%, according to a regulatory filing made on Monday that helped push the payment systems company’s stock up more than 3% in afterhours trading. The New York-based hedge fund now owns 10.5 million shares in the Naples, Florida-headquartered company which is worth $3.7 billion, the filing said.

Hedge Fund DE Shaw Expands Asia Pacific Presence (FundsGlobalAsia.com)
One of the world’s largest hedge funds, US-based D.E. Shaw & Co., is set to become the latest hedge fund to open an office in Singapore. The firm, which has more than $50 billion in investment capital, has applied for a fund management licence from the Singapore central bank. While DE Shaw already has offices in Shanghai and Hong Kong, it is just the latest large hedge fund to move its headquarters from Hong Kong to Singapore.

A Fund Manager Who’s Doubling Up the Competition in 2020 Tells Us His Strategy for Investing in the ‘K-Shaped’ Economic Recovery — and Details the Only 2 Stocks He Added as the Market Recovery Took Off (Business Insider)
As the stock market’s dramatic comeback from its March lows hit a major speed bump and volatility increased, a lot of investors scrambled to reposition for another twist. Fund manager Todd Ahlsten wasn’t one of them, as he mostly held on to his long-term investments and the stocks he bought during the sell-off and the early stages of the recovery. “The turnover since that earlier part of the year has come down significantly,” he told Business Insider in an exclusive interview. “We like where the portfolio is.”

Page 1 of 2