Hedge Fund and Insider Trading News: George Soros, Steve Cohen, Elliott Management, Brevan Howard Asset Management, Engine No. 1, Mineralys Therapeutics, Inc. (MLYS), Forward Air Corp (FWRD), and More

A Hedge Fund That Helped Melvin Capital During GameStop’s Squeeze Is Now Long GME (The Street)
Steve Cohen‘s Point72 Has Gone Long GME: Point72 is a fund managed by Steve Cohen, who also owns the New York Mets. The fund has about $26 billion in assets under management and uses a discretionary long/short strategy. As revealed in the fund’s latest 13-F filing, Point72 has made a surprising bet on GameStop (GME) – shares. In the most recent quarter, the fund bought about 606,000 shares of the video-game retailer at a market value of $11 million.

Salesforce, Activist Investor Elliott May Soon Reach Deal – Sources (Reuters)
Cloud-based software firm Salesforce Inc (CRM.N) and activist investor Elliott Management Corp are in discussions to reach an agreement that may end a possible board challenge, according to two people familiar with the matter. The battle at Salesforce has pitted Elliott as well as other activist investors against Marc Benioff, one of Silicon Valley’s most iconic chief executives. Salesforce’s growth has slowed dramatically in recent quarters and last month the company said it would cut 10% of jobs to address its performance.

Soros Says Adani Crisis to Spark Democracy Revival in India (Bloomberg)
The turmoil engulfing Gautam Adani’s business empire that’s sparked a punishing stock market selloff and shaken faith in India as an investment opportunity may open the door to a democratic revival in the country, according to billionaire investor George Soros. The fallout from US short seller Hindenburg Research’s attack on the conglomerate threatens to hurt investor confidence in India, has fueled concerns about the country’s regulatory framework and sparked questions about Prime Minister Narendra Modi’s ties with Adani.

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Brevan Howard Hires Ex-Nomura VP Murray Colville as Head of Systematic Operations (Financial News)
Hedge fund Brevan Howard has hired former Nomura vice president Murray Colville to head its systematic operations. Colville joins Brevan Howard after spending four months at institutional crypto trading platform Elwood Technologies as a technical account manager.

Ilmarinen’s Hedge Fund Portfolio Returns 8% in 2022 (Hedge Nordic)
Stockholm (HedgeNordic) – 2022 was a difficult year for investors, including well-diversified institutional investors, as equity and bond markets experienced double-digit declines. Finnish pension insurer Ilmarinen saw its investment portfolio book a loss of 6.6 percent for 2022, resulting in an investment loss of €4.0 billion. Ilmarinen’s hedge fund portfolio, which accounted for 8.6 percent of the overall portfolio at the end of 2022, returned 8.2 percent during the year to offset some of the broader portfolio’s losses.