Hedge Fund and Insider Trading News: Daniel Loeb, Chris Rokos, Bill Ackman, Michael Burry, Jana Partners, Clarium Capital Management, Man Group, Black Stone Minerals LP (BSM), ModivCare Inc. (MODV), and More

Chris Rokos to Raise New $3 Billion After Hedge Fund Soars (Bloomberg)
Billionaire Chris Rokos is raising fresh capital as his macro hedge fund heads for a record year of gains. Rokos Capital Management has held talks with potential clients to grow his assets by as much as $3 billion through both new money and existing backers reinvesting their gains, according to people with knowledge of the matter.

Lunch with Bill Ackman is Up for Auction – and with Bidding at $41,000, it’s a Bargain Compared with Warren Buffett’s $19 Million (Business Insider)
A private lunch with billionaire investor Bill Ackman is up for grabs in a charity auction — and as the top bid stands at $41,000 on Friday, it looks to be a steal compared with a steak meal with Warren Buffett that sold for $19 million. Bidding closes Monday for the chance to eat with the Pershing Square CEO and a guest, with proceeds going to New York healthcare workers, police, firefighters and military veterans. Ackman will match the winning amount, according to auction’s beneficiary, the David Lynch Foundation.

Dan Loeb Targets Bath & Body Works. Activists Haven’t Had a Good Year in Retail (Barron’s)
Bath & Body Works stock is heading higher early Friday, on news an activist shareholder is pushing for changes. But if the past year in retail is any indication, investors shouldn’t get too excited. After the close of regular trading Thursday, Third Point, helmed by Daniel Loeb, said it now owns just over a 6% stake in Bath & Body Works (ticker: BBWI). That equates to 13.75 million shares, building on a position the firm had initiated in the third quarter, a nearly $525 million bet.

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Jana Ratchets Up Pressure on Freshpet, Recruits Schmidt to Campaign (Reuters)
The activist investor pushing Freshpet Inc to consider selling itself is ratcheting up the pressure on the pet-food company by recruiting industry expert Kurt Schmidt to help with its campaign and possibly serve as director candidate, people familiar with the matter said. Jana Partners LLC, which reported owning a 9.9% stake in September, recently added Schmidt to a group of advisers that also includes a former Kraft Foods chief financial officer and a former chief executive officer at Jarden Corp, said the sources, who were not permitted to speak publicly on the private matter.

Peter Thiel’s Money Manager Hunts ‘Next PayPal’ For His Own Firm (FA-Mag.com)
Jack Selby was one of PayPal Holdings Inc.’s first employees and, after the payments company was sold, started hedge fund Clarium Capital Management with Peter Thiel. He later helped manage Thiel Capital, the billionaire’s family office. Now Selby is branching out with his own investment fund focused on technology companies in Arizona, where he spent part of his youth and returned to after EBay Inc. bought PayPal for $1.5 billion two decades ago.