Citadel Hedge Fund Makes Record $16bn (The Times)
A record-breaking $16 billion was made for clients of Citadel, the American hedge fund, last year, exceeding the returns generated by John Paulson’s bet against sub-prime mortgages in 2007. Citadel, founded and headed by Ken Griffin, 54, the billionaire tycoon, led the industry as the top 20 hedge funds collectively returned about $22.6 billion in profits after fees to investors, according to LCH Investments.
Hedge Fund Managers Score Tax Break While Keeping Investment Control (Advisor Perspectives)
Word is out among hedge fund managers on how to get tax breaks for giving to charity — without actually handing over their money just yet. They can even keep it in their funds. Step 1: Donate to your own charitable foundation. Step 2: Have the foundation invest in your hedge fund. Step 3: When the foundation must give some money away, send it to a donor-advised fund, or DAF. That counts as a charity, but lets you hold the earmarked cash there as long as you wish and give — or not give — in secrecy. Take Stephen Mandel’s $999,999,999 Zoom Foundation — that’s how the Tiger Cub has valued his organization’s assets in annual regulatory filings since 2017. It invests the money back into his Lone Pine Capital hedge fund and makes one gift a year to a DAF.
Tuesday 1/24 Insider Buying Report: GNTY, PNFP (Nasdaq.com)
At Guaranty Bancshares, a filing with the SEC revealed that on Friday, Director Richard W. Baker purchased 11,629 shares of GNTY, at a cost of $34.49 each, for a total investment of $401,084. Investors can grab GNTY at a price even lower than Baker did, with the stock changing hands as low as $33.78 at last check today — that’s 2.1% below Baker’s purchase price. Guaranty Bancshares is trading off about 0.8% on the day Tuesday. Before this latest buy, Baker purchased GNTY on 20 other occasions during the past year, for a total investment of $3.04M at an average of $34.45 per share. And at Pinnacle Financial Partners, there was insider buying on Friday, by Director Joseph C. Galante who purchased 1,000 shares for a cost of $72.26 each, for a trade totaling $72,260. Pinnacle Financial Partners is trading down about 0.9% on the day Tuesday. Galante was up about 4.0% on the buy at the high point of today’s trading session, with PNFP trading as high as $75.15 at last check today.
Insiders Selling Delta Air Lines And 3 Other Stocks (Benzinga)
Booking Holdings: The Trade: Booking Holdings Inc. (BKNG) CEO and President Glenn D Fogel sold a total of 1,500 shares at an average price of $2,320.02. The insider received around $3.48 million as a result of the transaction. HubSpot: The Trade: HubSpot, Inc. (HUBS) Executive Chair Brian Halligan sold a total of 8,500 shares at an average price of $309.80. The insider received around $2.63 million from selling those shares. Delta Air Lines: The Trade: Delta Air Lines, Inc. (DAL) SVP, Fin & Controller William C Carroll sold a total of 15,529 shares at an average price of $38.20. The insider received around $593.21 thousand from selling those shares.
Binance Accused of Insider Trading by Coinbase Director (The Crypto Times)
Global cryptocurrency exchange Binance is under scrutiny for insider trading as reportedly a list of transactions revealed token dumps just after Binance listed certain coins. Conor Grogan, director of Coinbase, stated that “there is a pattern of Binance front-running over 18+ months,” by noting certain transactions.
