Managers
Steve Cohen’s Point72 Asset Management has sharply reduced its exposure to Sphere Entertainment, unloading roughly 85% of its position as the stock surged this year, according a report by Sportico citing a recent SEC regulatory filing.
Boaz Weinstein’s (pictured) Saba Capital Management has been actively selling credit protection on big tech names as lenders and asset managers rush to hedge growing concerns around the sector’s debt-fuelled AI spending spree, according to a report by Reuters.
Activist hedge fund Irenic Capital Management has accumulated a stake in Papa John’s during the third quarter, adding a new layer to ongoing uncertainty surrounding the US pizza chain’s future, according to a report by Reuters.
Hillhouse, the Asia-focused investment firm led by Zhang Lei, has combined three of its public markets funds into a single vehicle valued at over $15bn, marking its largest fund reorganisation in years, according to a report by Bloomberg citing unnamed people familiar with the matter.
Paul Singer’s activist investment firm Elliott Investment Management is seeking a stake in Integrated Diagnostics Holding (IDH), a London-listed healthcare company operating across the Middle East and Africa, according to a report by Bloomberg.
Third Point’s Dan Loeb said he remains confident about the US market outlook, noting that while volatility is inevitable, he is unconcerned by the Federal Reserve’s interest rate path and expects US equities to continue performing well, according to a report by Bloomberg.
Activist hedge fund Jana Partners has taken a new position in Alkami Technology during the third quarter, according to a report by Reuters citing unnamed people familiar with the matter — a move that signals growing activist attention on the under-pressure digital banking software provider.
Starboard Value has fully exited its position in Pfizer, winding down the activist campaign it began last year to push for governance and performance improvements at the US drugmaker, according to a report by Reuters.
Some of the largest US hedge funds, including Bridgewater, Tiger Global and Lone Pine, pared back positions in the so-called “Magnificent Seven” during the third quarter, while others upped their holdings or opened new positions, according to a report by Reuters.
AQR Capital Management co-founder Cliff Asness says the quantitative investment firm is considering entering the sports betting market, according to a report by Bloomberg.
