Cathie Wood’s Popular Touch Deserts Her in ARK Flows, Venture Fund (Bloomberg)
There was a time when investors would send money into Cathie Wood’s funds even when they were struggling. This year, even as ARK Investment Management roars back, the flows are notable by their absence. All but one US-listed ARK exchange-traded fund, the flagship ARK Innovation Fund (ticker ARKK), have seen outflows in 2023, despite the fact that most funds have at least matched — and in some cases trounced — the performance of the S&P 500 Index, according to data compiled by Bloomberg.
2 Growth Stocks Ken Griffin (the Most Profitable Hedge Fund Manager Ever) Is Buying in a Nasdaq Bear Market (The Motley Fool)
Ken Griffin has been buying shares of Apple and Tesla throughout the past year. Last year, many investors saw their portfolios decline in value as the Nasdaq Composite tumbled into a bear market, but Ken Griffin navigated the volatility without trouble. His hedge fund, Citadel, reported a record-breaking $16 billion profit. That tops John Paulson’s $15 billion profit in 2007, when he correctly bet against subprime mortgages in what has been called “the greatest trade ever.”
Balyasny Built These 4 Cloud-Based Tools That are Critical in the $19.5 Billion Hedge Fund’s Push into New Trading Strategies (Business Insider)
Balyasny Asset Management is a multi-strategy hedge fund that has used the cloud since 2017. The firm uses Amazon Web Services and Microsoft Azure to handle most of its tech infrastructure. The firm’s chief information officer and chief data officer detail 4 tools it built on the cloud. Balyasny Asset Management is deploying an arsenal of secret weapons that the $19.5 billion hedge fund has been building on the public cloud. With about 75% of the firm’s tech infrastructure sitting on Amazon Web Services and Microsoft Azure, the Chicago-based firm’s tech division has stayed busy putting the cloud-based tools and services of Big Tech to work.
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Month in Review – March 2023 (Hedge Nordic)
Stockholm (HedgeNordic) – After a strong first two months of the year, Nordic hedge funds ended the month of March down 1.2 percent on average (96 percent reported). Nordic CTAs struggled the most last month, as many trend-followers were wrong-footed amid the wild bond market gyrations caused by the collapse of Silicon Valley Bank and Signature Bank. Four of the five strategy categories within the Nordic Hedge Index ended March in negative territory, with diversified (formerly multi-strategy) funds managing to edge up 0.1 percent.
Tiger Funds Are Shrinking (Institutional Investor)
The five largest funds with ties to Tiger Management lost more than $80 billion in AUM last year. The Tiger Kingdom is roaring a little softer after last year’s performance woes. Most of the Tiger Cubs and other descendants of Tiger Management — the hedge fund founded by the late Julian Robertson, Jr. — reported huge declines in their assets under management…
Ray Dalio Set to Open Branch of Family Office in Abu Dhabi (Bloomberg)
New office will be located in Abu Dhabi’s financial free zone. Bridgewater Associates founder has longstanding ties with UAE. Ray Dalio is setting up a branch of his family office in Abu Dhabi, part of the hedge fund billionaire’s deeper push into the Middle East.
Hedge Funds Up JOF Short Positions (Hedge Week)
Several hedge funds have recently made changes to their positions in the Japan Smaller Capitalisation Fund (JOF), with the fund seeing overall growth in short interest during March to 11,800 shares at the end of the month, an increase of 26.9% from the 15 March total of 9,300 shares. Raymond James & Associates upped its position by 2.8% during the first quarter and now owns 101,227 shares of the company’s stock, worth $725,000 after purchasing an additional 2,711 shares in the last quarter.
April Hedge Fund Insights by PivotalPath (MacroHive.com)
The PivotalPath Composite Index returned -0.8% in March amid banking failures, concerns of financial contagion risks and historic shifts in interest rates. The S&P 500 Index rose 3.7% and the Nasdaq and Russell 2000 had mixed performance: +6.7% and -5.0%, respectively. Amid overall financial market volatility and significant dispersion of performance among hedge fund strategies, the PivotalPath Composite continues to minimize losses in down months. Strategy Highlights: The largest losses were primarily in Managed Futures and Global Macro, which led the Composite lower in March. March losses of 4.6% in Managed Futures and 3.0% in Global Macro was enough to offset earlier gains, dragging year-to-date performance into negative territory. Equity-oriented strategies appreciated modestly along with overall equity markets.
Wednesday 4/19 Insider Buying Report: DAL, AKAM (Nasdaq.com)
On Friday, Delta Air Lines’s Director, David S. Taylor, made a $167,805 purchase of DAL, buying 5,000 shares at a cost of $33.56 a piece. So far Taylor is in the green, up about 6.1% on their buy based on today’s trading high of $35.62. Delta Air Lines is trading down about 0.4% on the day Wednesday. Before this latest buy, Taylor made one other buy in the past twelve months, purchasing $293,100 shares at a cost of $29.31 each. And at Akamai Technologies, there was insider buying on Tuesday, by Chief Executive Officer F. Thomson Leighton who purchased 603 shares for a cost of $82.94 each, for a trade totaling $50,015. Before this latest buy, Leighton bought AKAM at 36 other times during the past year, for a total investment of $2.00M at an average of $81.14 per share. Akamai Technologies is trading down about 0.2% on the day Wednesday.
Pinterest, Advanced Micro Devices And 2 Other Stocks Insiders Are Selling (Benzinga)
Advanced Micro Devices: The Trade: Advanced Micro Devices, Inc. (AMD) EVP and CSO Paul Darren Grasby sold a total of 12,500 shares at an average price of $94.85. The insider received around $1.19 million from selling those shares. Pinterest: The Trade: Pinterest, Inc. (PINS) SVP, Products Naveen Gavini sold a total of 11,185 shares at an average price of $27.95. The insider received around $312.58 thousand from selling those shares.
