Hedge Fund and Insider Trading News: David Tepper, Ray Dalio, Archegos Capital Management, Elliot Management, American Homes 4 Rent (AMH), Toast, Inc. (TOST), and More

NFL Owner David Tepper’s Hedge Fund Scoops Up Shares of Sands, Wynn Resorts (Casino.org)
David Tepper’s Appaloosa Management made two additions to its equity portfolio in the first quarter, and both hail from the gaming industry. The hedge fund founded by the owner of the NFL’s Carolina Panthers initiated stakes in Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN) in the first three months of the year, representing its only new positions as of March 31.

Bill Hwang Seeks Probe of Morgan Stanley in Costly Short Squeeze (Bloomberg)
Before Bill Hwang sent a slate of stocks on a manic climb last year, he had already started bleeding billions of dollars on a bearish bet after seeking Morgan Stanley’s help. It’s an untold chapter that played out just before Hwang’s famously bullish trades came tumbling down in early 2021, wiping out his Archegos Capital Management and leading to criminal charges.

Elliott Management Closes Last Asia Office (Funds Global Asia)
US hedge fund Elliot Management has shut its last remaining office in Asia, completing its physical exit from the region. The news was reported by the Financial Times and comes a year after the firm closed its Hong Kong office, splitting its international business between Japan and the UK. But after closing the Tokyo office, the responsibility for managing Eliott’s Asian investments will be taken on by the London office.

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Attractive Opportunities Ahead in Australia’s Healthcare Sector (Preqin)
A nuanced, deliberate, and thematic approach to investing in healthcare could yield strong returns despite increased activity and strong asset prices over the past few years. Healthcare presents a wealth of investment opportunities in Australia. Spending on healthcare goods and services has risen from $91bn per annum 20 years ago to over $185bn per annum today. We foresee three key trends that can help drive outperformance over the next decade. Investing with these in mind will allow investors to tap into the growing number of opportunities that may provide outsized returns.

The Biggest Hedge Fund Managers Posted The Worst April Returns (Forbes)
Most hedge funds reported positive returns for March, but April brought a reversal for funds administered by Citco. The firm reports that the overall weighted average return for April was -2.9%, compared to the March return of 1.5%. April returns by strategy and size: Due to inflated commodity prices, commodities funds were the strongest performers, with a weighted average return of 4.4%. Event-driven funds came in second with a return of 1.6%, followed by global macro funds at 0.6%. All other hedge fund strategies were negative, with equities in last place at -4%.