Seth Klarman is Betting Big on Red-Hot SPACs, Picking Up Shares in Ackman and Beane’s New Deals (CNBC)
Seth Klarman’s Baupost Group piled into some of the most popular blank-check deals this year, seeking to capitalize on a burgeoning market. The hedge fund manager made a near $400 million bet on Bill Ackman’s historic special-purpose acquisition company Pershing Square Tontine Holdings as of the end of the third quarter, according to a new regulatory filing. The SPAC, which marked the largest deal ever when it debuted in July, has a market cap of about $4.6 billion.
Scaramucci’s $9.2B SkyBridge ‘May Seek Exposure to Digital Assets’ (Nasdaq.com)
Anthony Scaramucci’s mega hedge fund, SkyBridge Capital, just gave itself the ability to bet on cryptocurrencies from afar. In a series of filings with the U.S. Securities and Exchange Commission published Friday and Monday, the $9.2 billion asset manager helmed by the one-time spokesman of U.S. President Trump signaled that two of its funds “may seek exposure to digital assets.” The documents are meant to give SkyBridge the green light to invest in other funds that have money in the crypto markets or in the companies supporting the ecosystem.
Hedge Funder Buys Palm Beach Spec Home for Nearly $6M (The Real Deal)
The co-founder of a New York-based investment firm paid $5.5 million for a newly built spec home in Palm Beach. Records show Scott Goodwin and his wife, Kimberly, bought the home at 232 Bahama Lane from 232 Bahama Lane, LLC, a Florida company that links to Nannette Gammon of The Ecclestone Organization. Scott Goodwin is the co-founder and managing partner of Diameter Capital Partners. Before founding Diameter, Goodwin was a portfolio manager and the global head of trading at Anchorage Capital Group, according to a bio for Credit Suisse’s 2019 America’s Credit Forum.
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How Women-Led Hedge Fund Firms can Gain Value (Hedge Week)
The hedge fund industry is dominated by men, with women and minorities controlling only a small fraction of US-based assets. Some financial observers say fixing this gender imbalance is long overdue. They bolster their argument with data showing hedge funds run by women have performed well in recent years, including during the pandemic, when they out-performed those managed by men.
Dan Loeb Makes New Bets on Pinterest, Palantir and PG&E – Here are the Highlights (CNBC)
Longtime hedge fund manager and activist investor Daniel Loeb, manager of Third Point, continued to bet on Disney and e-commerce giants in the third quarter, and added new positions in Pinterest, Palantir and Microsoft. Third Point released its positions from the end of the third quarter, showing a fund with more than $9.9 billion in equity positions.
Soros, Starboard, Rokes Make Big ETF Bets (Institutional Investor)
Several hedge fund firms disclose major new stock positions, including Seth Klarman’s Baupost Group. Several hedge funds used ETFs to make big directional bets on various financial markets in the third quarter, according to their latest 13F filings which disclose U.S. long equity-related positions on September 30.For example, as of the end of the third quarter, the SPDR S&P 500 ETF Trust was Starboard…
Activist Hedge Fund Starboard Value Offloads eBay, Buys Corteva (Benzinga)
Activist hedge fund Starboard Value fund exited eBay Inc (NASDAQ: EBAY) in the third quarter of 2020, according to the fund’s latest 13F filing. The fund sold 2.09 million shares it held in eBay, valued at $109.6 million in the second quarter. New Positions: Starboard initiated a new position in Corteva Inc (NYSE: CTVA), buying 11.71 million shares valued at $337.38 million as of Sept. 30. It’s worth noting that the shares value $421.69 million, based on Friday’s closing price of $36.01.
Hedge Funds Are Betting Big On This $130 Trillion Trend (PRNewswire)
LONDON, Nov. 16, 2020 /PRNewswire/ — This isn’t just a megatrend. It’s a movement in Big Money, and it’s the most profound redistribution of investment that the world’s biggest asset and wealth managers have recently seen. Big money is fleeing anything that’s not sustainable. Mentioned in today’s commentary includes: Microsoft Corporation (NASDAQ: MSFT), Apple Inc. (NASDAQ: AAPL), Facebook, Inc. (NASDAQ: FB), Alphabet Inc. (NASDAQ: GOOGL), Tesla, Inc. (NASDAQ: TSLA). By 2022, PwC says that 77% of institutional investors will stop buying non-ESG products entirely. ESG fund assets will account for over 50% of all European fund assets by 2025. That’s nearly $8 trillion. And it’s only the beginning.
Preqin Impact Report: The Rise of ESG in Alternative Assets (Preqin)
With more than $3tn in ESG-committed funds closed since 2011, sustainable investing has moved into the mainstream with both asset owners and investment managers since 2011. Surprisingly, this shift has occurred despite widely held concerns about the opacity of environmental, social, and governance (ESG) accountability. The need to improve transparency around ESG is greater than ever. More market participants want to comply to these standards, but often don’t know what they’re looking for.
Monday 11/16 Insider Buying Report: MPLN, NC (Nasdaq.com)
On Friday, MultiPlan’s Director, Michael Stuart Klein, made a $4.89M purchase of MPLN, buying 741,000 shares at a cost of $6.60 each. Klein was up about 15.7% on the purchase at the high point of today’s trading session, with MPLN trading as high as $7.63 in trading on Monday. MultiPlan is trading up about 6.3% on the day Monday. This purchase marks the first one filed by Klein in the past twelve months. And on Wednesday, Diahn Taplin purchased $2.57M worth of NACCO Industries, purchasing 155,595 shares at a cost of $16.55 each. This buy marks the first one filed by Taplin in the past twelve months. NACCO Industries is trading up about 10.5% on the day Monday. Taplin was up about 44.4% on the purchase at the high point of today’s trading session, with NC trading as high as $23.89 at last check today.
Insider Trading: November 16, 2020 (BIV.com)
Insider Bruce Linton, 10% owner. Company: Vireo Health International Inc. (CNSX:VREO). Shares owned: 0. Trade date: Nov 5. Trade total: $286,293. Trade: Sale of 208,973 shares at a price of $1.37 per share. Insider Christopher Bunka, director, officer. Company: Lexaria Bioscience Corp. (OTCMKTS:LXRP). Shares owned: 6,341,844. Trade date: Nov 6, 9, 10. Trade total: US$40,295. Trade: Acquisition of 195,500 shares at prices from US$0.19 to US$0.22 per share.
The Shareholder of Cominar Real Estate Investment (Other OTC: CMLEF) is Selling Shares (Analyst Ratings)
On November 13, the Shareholder of Cominar Real Estate Investment (CMLEF), Sime Armoyan, sold shares of CMLEF for $3.06M. Following Sime Armoyan’s last CMLEF Sell transaction on November 06, 2020, the stock climbed by 8.1%. The company has a one-year high of $11.48 and a one-year low of $5.14. Currently, Cominar Real Estate Investment has an average volume of.
