Loyola Capital Management – Best Equity Hedge Fund (up to USD500m) (Hedge Week)
Loyola Capital Management was named Best Equity Hedge Fund (up to USD500m) at the Hedgeweek Americas Awards 2021 as a result of its outstanding performance over the past 12 months. Loyola Capital Partners LP was up 298.3 per cent between 30 September 2020 and 30 September 2021, versus a gain of 71.6 per cent for the S&P 500. The portfolio is managed with significant concentration (four to ten holdings) and use of leverage as high as 2x equity. Its performance was largely due to remaining fully invested in the face of a major recession and subsequent bear market. While the portfolio suffered a significant decline between 30 September 2019 and 31 March 2020 (the S&P 500 was down 34 per cent over the same period), Loyola Capital Management remained invested, and even increased leverage to a maximum level at the bottom of the bear market.
Ackman SPAC Investors Defend It Against Fellow Shareholder’s Claims (Bloomberg)
Investors in Bill Ackman’s Pershing Square Tontine Holdings Ltd. — some recruited through a Reddit forum — rallied to defend the world’s largest special purpose acquisition company against claims by fellow shareholder George Assad that it was operating illegally. A group of 62 investors holding almost 1.3 million shares filed court papers last week in support of the SPAC’s bid to dismiss a lawsuit by Assad, who sued in August after the company abandoned plans for a deal with Universal Music Group. Assad alleged that Pershing Square Tontine isn’t a SPAC and that it should be regulated under the Investment Company Act of 1940, which would require registration with the U.S. Securities and Exchange Commission.
Hedge Fund TCI Seeks Delay in Canadian National CEO Search (Reuters)
Dec 23 (Reuters) – TCI Fund Management said on Thursday Canadian National Railway’s search for a new chief executive officer should be delayed until shareholders at the nation’s top rail operator vote for a new search committee to elect a CEO. The announcement comes days after CN said TCI’s pick and former Union Pacific executive Jim Vena had pulled out of the running for the CEO’s role.
Thursday 12/23 Insider Buying Report: CHWY, UEPS (Nasdaq.com)
At Chewy, a filing with the SEC revealed that on Tuesday, Director James A. Star bought 32,278 shares of CHWY, for a cost of $55.58 each, for a total investment of $1.79M. Star was up about 6.1% on the buy at the high point of today’s trading session, with CHWY trading as high as $58.95 at last check today. Chewy is trading up about 5.7% on the day Thursday. And on Monday, Antony C. Ball bought $1.29M worth of Net 1 UEPS Technologies, buying 258,830 shares at a cost of $4.99 each. Before this latest buy, Ball bought UEPS at 2 other times during the past twelve months, for a total cost of $330,952 at an average of $4.60 per share. Net 1 UEPS Technologies is trading off about 1.1% on the day Thursday. Ball was up about 11.9% on the buy at the high point of today’s trading session, with UEPS trading as high as $5.58 at last check today.
The Supervisory of CA Immobilien Anlagen AG (Other OTC: CAIAF) is Buying Shares (Analyst Ratings)
Yesterday, the Supervisory of CA Immobilien Anlagen AG (CAIAF), Laura Mestel Rubin, bought shares of CAIAF for $1.31M. Over the last month, Laura Mestel Rubin has reported another 4 Buy trades on CAIAF for a total of $15.18M. The company has a one-year high of $44.25 and a one-year low of $35.17. CAIAF’s market cap is $3.79 billion and the company has a P/E ratio of 9.44.
Asana Inc (ASAN) President, CEO, & Chair Dustin A. Moskovitz Bought $97.2 million of Shares (Guru Focus)
President, CEO, & Chair of Asana Inc, Dustin A. Moskovitz, bought 1,250,000 shares of ASAN on 12/22/2021 at an average price of $77.74 a share. The total cost of this purchase was $97.2 million.
