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%.
Hedge Fund Veteran to Head Up New Simplify Macro Strategy ETF (Hedge Week)
Simplify Asset Management (Simplify), an provider of Exchange Traded Funds (ETFs) designed to solve today’s most pressing portfolio construction challenges, has launched the Simplify Macro Strategy ETF (FIG). FIG, a modern take on the balanced portfolio, will be led by hedge fund veteran Michael Green, CFA, Portfolio Manager and Chief Strategist with Simplify.
Tiger Global Slashes Bets on Big Tech Amid Global Sell-Off (CityA.M.)
Prolific tech investor Tiger Global has slashed its bets on big tech firms in the first quarter of the year after suffering heavy losses amid a global tech rout. The total value of the New York hedge fund’s public stock positions fell from $46bn at the end of last year to just over $26bn at the end of the first quarter of 2022, according to regulatory filings reported by the Financial Times.
Ray Dalio’s Bridgewater dumps Tesla, bets on meme stocks AMC and GameStop (AOL)
The world’s largest hedge fund led by billionaire Ray Dalio has parted ways with its stake in Tesla (TSLA) and placed new bets on meme-stocks AMC (AMC) and GameStop (GME) during the first quarter, a filing with the Securities and Exchange Commission showed. The firm also took new positions in Warren Buffet’s Berkshire Hathaway (BRK.B) and Airbnb (ABNB). Earlier regulatory reports by Bridgewater indicated the hedge fund owned 25,488 shares of Elon Musk’s Tesla as of the end of last year.
A Hong Kong Hedge Fund is on a Massive Hiring Spree (eFinancialCareers.com)
A Hong Kong-headquartered hedge fund is on the lookout for fresh local talent and is also plotting global expansion. Infini, a multi-strategy head fund, is looking to hire at least ten portfolio managers in Hong Kong and has recruited a chief risk officer, who is set to join the coming weeks, according to the firm. The planned new recruitment drive comes after the firm already increased headcount by a third last year and Infini hired five new portfolio managers including Jim Song, who is focused on global macro strategy.
CEO of $7,000,000,000 Hedge Fund Says Firm Hasn’t Sold Any Crypto Positions During Market Collapse (The Daily Hodl)
The founder and CEO of SkyBridge Capital says that the global investment firm is holding on to its crypto positions despite the dramatic downturn of the markets. In a new interview on CNBC, Anthony Scaramucci says that crypto is currently facing a bear market that’s more challenging than usual.
Tuesday 5/17 Insider Buying Report: AMH, DISH (Nasdaq.com)
On Friday, American Homes 4 Rent’s Director, Tamara Hughes Gustavson, made a $27.66M purchase of AMH, buying 755,000 shares at a cost of $36.63 each. Gustavson was up about 2.8% on the purchase at the high point of today’s trading session, with AMH trading as high as $37.66 at last check today. American Homes 4 Rent is trading up about 0.2% on the day Tuesday. And at DISH Network, there was insider buying on Friday, by James Defranco who bought 1,250,000 shares at a cost of $19.43 each, for a total investment of $24.28M. This purchase marks the first one filed by Defranco in the past twelve months. DISH Network is trading up about 2.7% on the day Tuesday. Defranco was up about 11.3% on the purchase at the high point of today’s trading session, with DISH trading as high as $21.63 in trading on Tuesday.
Executives Sell More Than $72M Of 4 Stocks (Benzinga)
Toast: The Trade: Toast, Inc. (TOST) 10% owner Steve Papa sold a total of 3,096,741 shares at an average price of $14.12. The insider received around $43.74 million from selling those shares. Noble Corporation: The Trade: Noble Corporation (NE) 10% owner Pacific Investment Management Co Llc sold a total of 357,676 shares at an average price of $31.95. The insider received around $11.43 million from selling those shares.
