ValueAct Looks to Seven & I Board Vote After ‘Vague’ Response (Bloomberg)
Activist fund ValueAct Capital Management LP said it’s looking forward to the opportunity to vote for new directors of Seven & i Holdings Co. after what it called a disappointing response from the retailer Thursday. The operator of 7-Eleven stores didn’t answer any of the fund’s questions in a clear and specific way, and its communications continue to be “vague and confusing,” ValueAct wrote in an e-mailed statement Friday. The company’s “consistent refusal” to address investor dissatisfaction about its conglomerate structure “doesn’t inspire confidence in the company’s governance and leadership,” it added.
Largest Hedge Fund Bridgewater: Here Are The Reasons Recessions Will Be Longer And Deeper In America (Moguldom)
Karen Karniol-Tambour, the co-chief investment officer of Bridgewater Associates, warned investors that upcoming recessions may play out more painfully than in the past, may be more difficult to handle and “longer” than we’re used to as the Federal Reserve struggles to intervene. Bridgewater has almost $130 billion in assets under management. In February, Karniol-Tambour, 37, became the first woman to hold the most senior investing job at the world’s largest hedge fund. She was promoted to co-CIO less than four months after billionaire founder Ray Dalio stepped down as co-CIO and gave up control of the hedge fund.
Debra Messing’s Brother Blamed for Anthony Scaramucci’s Hedge Fund Failure (Cryptosaurus.tech)
“Will & Grace” star Debra Messing’s brother convinced Anthony Scaramucci to make a disastrous investment in cryptocurrency – costing his hedge fund hundreds of millions of dollars, according to a report. Brett Messing, who attended Harvard Law School with “The Mooch”, became chairman and partner of his hedge fund Skybridge Capital, which at its height had approximately $9 billion in assets under management.
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Pantera Capital Raises US$ 22.5 Million for M^ZERO Labs (SWFInstitute.org)
A German decentralized infrastructure project known as M^ZERO Labs has raised US$ 22.5 million. Pantera Capital led the round, with Road Capital, AirTree, Standard Crypto, The SALT Fund, ParaFi Capital, Distributed Capital, Kraynos Capital, Mouro Capital, and Earlybird taking part. The funds will go toward hiring and building the infrastructure.
Jim Chanos’ Short-Only Fund, Ursus, Came Out on Top in 2022 (Institutional Investor)
Legendary short seller Jim Chanos is making a comeback. After enduring what he called “one giant short squeeze” during the long-running bull market, Chanos got a break last year when the stock market finally cracked. Chanos’ short-only fund, Ursus, gained 18 percent in 2022, compared with a negative 12 percent return in 2021, according to an individual familiar with the results. In terms of absolute numbers, it was the best gain for the short-only fund in many years — leaving it with more than $100 million in assets under management at the end of 2022, according to the ADV Chanos recently filed with the Securities and Exchange Commission. Ursus held around $60 million at the end of 2021.
GSD Capital, Inside A Young Hedge Fund’s Stand Out Year (Markets Herald)
Many absolute return funds are currently experiencing a decrease in performance results, but there is one hedge fund that stands out from the crowd. This fund has managed to maintain outsized returns with the help of artificial intelligence (AI). AI is cutting-edge technology that has been widely adopted by the financial industry in recent years. This new development is helping some active fund managers make better and more profitable investment decisions by analyzing a much wider spread of data and identifying patterns at a rate far better than human analysts or outdated software.
Hedge Fund Sigma Planning Corp Slashes Investment in VanEck Fallen Angel High Yield Bond ETF (ANGL) Due to Market Concerns (BestStocks.com)
Sigma Planning Corp, a well-known hedge fund, has recently slashed its investment in the VanEck Fallen Angel High Yield Bond ETF (ANGL) by 47.6%. According to the firm’s most recent 13F filing with the Securities and Exchange Commission (SEC), Sigma Planning Corp is now left with only 35,167 shares of ANGL’s stock, after shedding 32,006 shares during the fourth quarter of 2022. This move was made in light of recent market trends and changes in Sigma Planning Corp’s investment strategy.
Hedge Fund Software Industry Research 2023: Global Size, Growth, Trends, Outlook and Future Scope Analysis (The SEM Weekly)
Global Market Vision has published a newly statistical data, titled as Hedge Fund Software market, which gives a brief strategy of the ongoing trends, as well as prediction of upcoming trends. These trends are analyzed and studied from various sectors like Hedge Fund Software on the basis of the domain, industries, and clients. This report is summarized with different market perspectives such as political, cultural as well as economical.
JPMorgan Subpoenas Staley’s Former Hedge Fund in Epstein Dispute (Bloomberg)
JPMorgan Chase & Co. subpoenaed information from the hedge fund where Jes Staley was once managing partner as part of its lawsuit over his ties to Jeffrey Epstein, according to people familiar with the matter. Lawyers for the bank recently sent a subpoena to Assured Investment Management, the people said. Assured is the successor to BlueMountain Capital, which Staley, 66, joined in 2013 after more than 30 years at JPMorgan, where he rose to become head of private banking.
$12M Bet On This Healthcare Stock? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Biomea Fusion: The Trade: Biomea Fusion, Inc. (BMEA) 10% owner Cormorant Asset Management LP bought a total of 400,000 shares at an average price of $30.00. To acquire these shares, it cost around $12 million. Beyond Air: The Trade: Beyond Air, Inc. (XAIR) Director William P Forbes acquired a total of 5,000 shares at an average price of $6.67. To acquire these shares, it cost around $33.35 thousand.
Recent Corporate Actions and Insider Trading Activity Put Best Buy Shareholders on Alert (Beststocks.com)
Best Buy Co., Inc. (NYSE:BBY) shareholders have much to consider in light of recent corporate actions and insider trading activities. The technology retailer’s stock saw a reduction in stake of 11.3% by Fifth Third Bancorp during the fourth quarter, according to their latest 13F filing with the Securities and Exchange Commission (SEC). This drop in shares totals 4,797 and brings the value of Fifth Third Bancorp’s holdings in Best Buy down to just over $3 million as of the most recent quarter.
