TOP STORY: Gold and coffee helped drive positive returns for trend-following hedge funds in September, supported by record commodity prices, rising equities, and falling interest rates, according to a report by Reuters citing data from Societe Generale released on Tuesday.

Activist hedge fund firm Starboard Value has built a $1bn position in Pfizer and is planning to push for strategic changes at the pharmaceutical giant as the company grapples with declining post-pandemic revenues, according to a report by the Wall Street Journal.

Hedge funds shifted to a bullish stance on the yen just before dovish comments from Japan’s new prime minister and strong US employment data triggered the worst weekly decline for the currency since late 2009, according to a report by Bloomberg.

China’s quantitative hedge funds are grappling with increased margin pressures as the country’s largest stock market rally in over a decade continued during trading on Monday, according to a report by Bloomberg News.

Glenview Capital Management, the $2.5bn healthcare-focused hedge fund founded by Larry Robbins, is set to meet with senior executives of CVS Health on Monday to suggest strategies for improving the company’s operations, according to a report by The Wall Street Journal.

Hedge funds investing in Chinese stocks saw a surge in performance this week, following the announcement of China’s largest economic stimulus package since the Covid-19 pandemic in 2020, according to a report by Reuters citing a Goldman Sachs note.

Activist investor Elliott Investment Management has intensified its campaign against Southwest Airlines , announcing plans to call a special shareholder meeting as early as next week in a push for significant leadership change at the airline, including the removal of Chief Executive Officer Bob Jordan, according to a report by Reuters.