Hedge Fund Eisler Capital’s Profit Jumps 73% (Financial News)
Eisler Capital’s highest-paid director received remuneration of $4.2m last year, compared with $2.4m in 2021. London-based multi-strategy hedge fund Eisler Capital saw its profits soar 73% on the back of a strong performance in 2022. The firm made a profit of $45m for the year ended 31 December 2022. Eisler Capital’s turnover came in at $261m, up 184% compared with 2021, according to the latest accounts.
Warren Buffett Lifts Fossil Fuel Bets (Bloomberg)
Warren Buffett’s multibillion-dollar purchases of oil and gas investments early in the pandemic paid off when the sector cranked out record earnings in 2022. But instead of selling out for a huge profit this year, the Oracle of Omaha wants more. Berkshire Hathaway Inc. is using this year’s dip in commodity prices to load up on some of Buffett’s favorite oil and gas investments, showing that history’s most famous investor sees opportunity in a sector long disfavored due to its volatility and effects on the climate.
Rithm Capital to Acquire Hedge Fund Sculptor for $639 Million (Reuters)
Asset manager Rithm Capital (RITM.N) has agreed to acquire hedge fund firm Sculptor Capital Management (SCU.N) for $639 million, the companies said in a statement on Monday. Rithm will pay $11.15 per class A share of Sculptor, which represents a premium of 18% over Sculptor’s closing price on Friday. Sculptor, once known as Och-Ziff Capital Management, had been exploring a sale since last year, amid a legal battle with its founder, Daniel Och.
Source: pexels
Glenview Has a Solid First Half (Institutional Investor)
The hedge fund firm led by Larry Robbins has delivered gains in each of its main funds. Glenview Capital Management’s hedge funds generated healthy returns in the first half of the year. The hedge fund firm headed by Larry Robbins posted a 13.8 percent gain in its flagship Glenview Capital Partners fund, according to a person who has seen the results.
Archegos Probe Reveals Full Extent of Credit Suisse Failure (Finews.com)
Regarding the Archegos debacle, it’s clear how deeply negligent Credit Suisse’s top management was until recently. The shortcomings are serious and Finma has ordered far-reaching measures applying to the bank and its legal successor, UBS. The multi-billion dollar debacle with the US hedge fund Archegos Capital Management that put Credit Suisse in dire straits in 2021, is ending with hefty fines and a harsh reprimand from regulators, including the Swiss Financial Market Supervisory Authority (Finma), which has identified serious deficiencies at in the past.
Weiss Multi-Strategy Hedge Fund Spurs Retirement Plan Class Suit (Bloomberg Law)
Hedge fund manager GWA LLC and its founder George A. Weiss was hit with a proposed class action claiming the entirety of its retirement plan is invested in alternative, proprietary investments including its flagship Weiss Multi-Strategy Partners hedge fund. The lawsuit, filed Monday in the US District Court for the District of Connecticut, claims the entirety of the company’s $103 million retirement plan is invested in two proprietary investments: the Weiss Multi-Strategy Partners (Cayman) Ltd. hedge fund and a mutual fund that largely replicated the hedge fund’s strategy.
Hedge Fund Insights by PivotalPath – Focus Turns to the Fed (MacroHive)
Summary: The PivotalPath Composite Index returned 1.6% in June as the US debt ceiling was resolved early in the month and there was optimism around a soft landing and the end of the Fed hiking cycle. Meanwhile, the S&P 500 Index (S&P) and Nasdaq Index (Nasdaq) both rose 6.6%. Year-to-date, the PivotalPath Composite Index is up 3.5%, the S&P is +16.9% and the Nasdaq has climbed 31.75%. Strategy Highlights: All major hedge fund strategy Indices gained ground in June. They are now each positive in 2023 except for Global Macro, which performed well in June but remains -0.1% for the year. The Equity Sector Index continues to lead the pack up 7.4% YTD. In June, the Equity Quant Index gained the most, appreciating 3%.
Credit Suisse Sued for $100m by Hedge Fund Over Margin Call (Financial News)
Credit Suisse has been hit with a claim for more than $100m by South African hedge fund M1, which has accused the bank of making a wrongful margin call. The lawsuit against the Swiss bank adds to a pile of outstanding litigation and regulatory issues UBS has inherited from Credit Suisse after acquiring the bank in March in an emergency takeover.
Tuesday 7/25 Insider Buying Report: RMCF, TPL (Nasdaq.com)
At Rocky Mountain Chocolate Factory, a filing with the SEC revealed that on Thursday, Director Jeffrey Richart Geygan purchased 17,185 shares of RMCF, for a cost of $5.62 each, for a total investment of $96,663. Geygan was up about 4.7% on the purchase at the high point of today’s trading session, with RMCF trading as high as $5.89 in trading on Tuesday. Rocky Mountain Chocolate Factory Inc is trading flat on the day Tuesday. Before this latest buy, Geygan bought RMCF at 4 other times during the past year, for a total investment of $313,790 at an average of $6.10 per share. And at Texas Pacific Land, there was insider buying on Thursday, by Director Murray Stahl who purchased 20 shares at a cost of $1445.33 each, for a trade totaling $28,907.
ON Semiconductor, MongoDB And 2 Other Stocks Insiders Are Selling (Benzinga)
ON Semiconductor: The Trade: ON Semiconductor Corporation (ON) CEO & President Hassane Elkhoury sold a total of 20,000 shares at an average price of $105.00. The insider received around $2.1 million from selling those shares. Winnebago Industries: The Trade: Winnebago Industries, Inc. (WGO) PRESIDENT – GRAND DESIGN Jeff Donald Clark sold a total of 300,000 shares at an average price of $67.87. The insider received around $20.36 million from selling those shares.
