Hedge Fund and Insider Trading News: Warren Buffett, Millennium Management, Engine No. 1, HollyFrontier Corp (HFC), DTE Energy Co (DTE), and More

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Warren Buffett’s Berkshire Hathaway has Scored an Almost $2 Billion Gain on DaVita stock in the Past Year (Business Insider)
Warren Buffett‘s Berkshire Hathaway has scored almost a $2 billion gain on DaVita stock in the past year, likely propelling the kidney-dialysis specialist into the conglomerate’s 10 most-valuable portfolio holdings. The famed investor’s company holds 36.1 million shares of DaVita, giving it a 34.4% stake, a regulatory filing showed this month. DaVita’s stock is trading close to a record high at $131, valuing Berkshire’s position at $4.7 billion – up nearly 60% from about $3 billion a year ago.

Hedge Fund Millennium’s Summer Hiring in London (eFinancialCareers.com)
It’s August, but hedge fund Millennium is still adding talent in the UK. The fund has just recruited William Johns, a former head of correlation trading at Nomura and head of Asian currency options at Citi. Johns, who declined to comment for this article, is understood to be setting up a new pod to invest in FX using a volatility relative value strategy. As we’ve reported before, Millennium is organised into independently operating pods that are subsets of its main fund. Members of each pod are paid according to their pod’s pnl and there’s no netting across the wider fund. Millennium founder Izzy Englander said in February that the fund ended 2020 with, “more than 265 portfolio manager teams, the most we have ever had in our history.” In 2019, there were only 200.

How Activist Hedge Funds Went from Corporate Raiders to Climate Heroes (Fast Company)
When upstart activist hedge fund Engine No. 1 secured three seats on the board of Exxon­Mobil in June, it was a high-­profile repudiation of the way the country’s largest oil company has long conducted business: with a laser focus on returns and a blind eye to its impact on the world at large. The fund vowed to push ExxonMobil to develop a plan to address climate change and reduce its carbon footprint. Exxon’s responsibility as a business would no longer be only to its shareholders, the boardroom showdown signaled, but also to the public and the planet.

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


Mystery Hedge Fund Bolsters 500% Return on Curious Nasdaq Stock (Bloomberg Law)
Six thousand miles from Wall Street, in the ancient Silk Road city of Almaty, lies the private redoubt of a little-known financial empire. Inside the members-only T-Club, two cockatoos, Grisha and Silvia, keep watch. Above a bronze samovar, a flat screen television shows the proprietor’s corporate crest: a green “F” on a green shield.

Hedge Funds Down 0.34 per cent in July, Says SS&C GlobeOp (Hedge Week)
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for July 2021 measured -0.34 per cent. Hedge fund flows, meanwhile, as measured by the SS&C GlobeOp Capital Movement Index advanced 0.55 per cent in August. “SS&C GlobeOp’s Capital Movement Index rose 0.55 per cent for August 2021, reflecting increased net inflows compared to the favourable 0.53 per cent gain reported for the same period a year ago,” says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “Positive capital flows together with solid performance thus far in 2021 have created strong growth in hedge fund assets under management.”

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