Today's Hedge Funds Pulse
Paul Tudor Jones places $8 bn volatility bet on U.S. small‑cap stocks
Billionaire hedge fund manager Paul Tudor Jones has filed an $8 bn options position linked to the iShares Russell 2000 ETF. The structure includes roughly $5.1 bn of puts and $3 bn of calls, forming a volatility‑focused straddle that signals expectations of large price swings in U.S. small‑cap equities rather than a directional bet.
Alua Capital to Wind Down $2bn Hedge Fund After Underwhelming Returns
Alua Capital announced it will wind down its flagship hedge fund, which managed roughly $2 billion in assets. The fund’s performance lagged expectations, delivering sub‑2% annualized returns since its inception. Alua plans to liquidate positions and return cash to investors over the next six months. The move underscores mounting pressure on mid‑size hedge funds to meet rising investor performance standards.
Hedge Funds Bet Heavily on Oversupplied Grains
Hedge Funds Are Long on Oversupplied Grains Hedge funds are at their most net long in about three years despite an oversupplied grain bear market after the Iran-war bounce. My graphic highlights the potential oxymoron: managed-money net longs in corn, soybeans...
Two Allocators, One View: Liquidity, Cost and Control Behind CTA ETF Adoption
Institutional investors such as Sweden’s AP3 and Norway’s Aars family office are increasingly turning to trend‑following CTA ETFs to boost liquidity, cut costs, and maintain full portfolio transparency. Both firms view the ETF format as a practical complement to in‑house...
Capitalising on the Emerging Market Resurgence
BlueBay Emerging Market Unconstrained Bond Fund won the Hedge Journal’s 2026 UCITS Hedge Award for best risk‑adjusted returns in the emerging‑market credit space. The fund posted mid‑to‑high‑teens annual returns in 2023, 2024 and 2025—about three times its cash‑plus‑4‑6% target—while expanding...
Point72 Takes Early Q1 Lead Over Citadel and Millennium:
Point72 has emerged as the early 2026 performance leader among multi‑manager hedge‑fund platforms, outpacing rivals Citadel and Millennium. The firm’s edge stems from aggressive AI‑infrastructure exposure and a highly adaptive pod‑shop model that reallocates capital swiftly. Elevated equity dispersion this...
Goldman Sachs’ Private Credit Fund Weathers “Redemption Wave”
Goldman Sachs Private Credit Corp successfully fulfilled all first‑quarter redemption requests, drawing down just 4.999% of its 5% quarterly limit. In contrast, peers such as Blue Owl and Apollo imposed gates as redemption pressure mounted across the private‑credit sector. Goldman’s...
Hedge Funds Pivot Bullish on Geopolitical Hopes:
Hedge funds have flipped from defensive short‑bias to net‑long exposure for the first time in eight weeks, spurred by optimism that diplomatic talks may defuse tensions in the Strait of Hormuz. Goldman Sachs’ client note cites aggressive short covering and...
Third Point Q1 2026: -0.6% Return, Beats S&P by 400bps on Semiconductor and Aerospace Gains
Third Point’s flagship Offshore Fund posted a modest -0.6% return for Q1 2026, yet outperformed the S&P 500 by roughly 400 basis points. The outperformance stemmed from diversified wins in semiconductors, aerospace, power infrastructure and related sectors, while the fund...
Ex‑Rokos and Brevan Howard Veteran Launches $359 Million Commodities Hedge Fund
Luke Sadrian, a former partner at Rokos Capital Management and Brevan Howard, has rolled out the Fulcrum Commodities Fund, a $359 million vehicle that posted a 30.5% return since its October 2025 launch. The fund’s early performance and rising allocator interest...
Wellington Management Debuts Market‑Neutral UCITS Hedge Fund
Wellington Management launched the Wellington Absolute Return Global Equity Fund, a market‑neutral, multi‑manager UCITS strategy designed to deliver returns above cash regardless of market direction. The product expands Wellington’s hedge‑fund offerings into Europe’s regulated UCITS space, aiming to attract institutional...
All Factors Down, Hedge Fund Proxy Plummets, Shorts Rise
Value, quality, and momentum factors all down today. Long short hedge fund proxy declined -188bps. The only thing that was up was high short interest. Not healthy. https://t.co/nCK12nnBAU
Douglas Lane Cuts Visa Stake to $121M, Ranking It 10th Largest Holding
Institutional investor Douglas Lane & Associates LLC reduced its Visa Inc. stake by 3.6% in Q4, holding 344,864 shares worth $120.9 million—its 10th largest position. The move underscores a subtle rebalancing among large‑cap holdings as other firms adjust their exposure to...
Ares Management Secures $5.4 B LP Shift to Value‑Add Real Estate Funds
Ares Management closed a combined $5.4 billion in commitments for its US Real Estate Fund XI and European Property Enhancement Partners IV, marking a decisive LP rotation toward value‑add real‑estate strategies. The raise comes as rising cap rates pressure core‑plus funds...
Exclusive: The Ex-Rokos, Brevan Veteran Quietly Building a Commodities Fund in ‘One of the Most Interesting Markets in a Generation’
Luke Sadrian, former Rokos and Brevan Howard partner, launched the Fulcrum Commodities Fund in October 2025, quickly amassing $359 million in assets, including $250 million of external capital. The fund generated a 30.5% return from inception to March 2026, driven by a directional...
UK State‑Backed Fund Nest Allocates £450 Million to U.S. Private Credit
Nest, the UK government‑backed investment vehicle, has committed £450 million (about $570 million) to the U.S. private credit market. The move underscores growing sovereign interest in a sector largely run by hedge funds and alternative managers, and could reshape capital flows across...
Long‑Only vs Market‑Neutral: Constraints Drive Alpha Gap
An interesting diversion in the performance of alpha in long-only managers vs market neutral managers. How much of it is talent versus a bunch of constraints (e.g. no shorting; need to sell down MAG7 to make room for active bets; harder...
Event‑Driven Hedge Funds Hit by Forced‑Selling as Leverage Tops 3x and Beta Turns Negative
Event‑driven hedge funds endured a sharp March 2026 drawdown, with Asia‑focused funds down 7.3% and European peers down 6.3%. Record leverage above three times assets and a shift to negative beta forced broad equity sales, exposing systemic risk in the...
Prosperity Advisers LLC Purchases New Position in Vanguard S&P 500 ETF $VOO
Prosperity Advisers LLC disclosed a new position in Vanguard S&P 500 ETF (VOO) in its latest 13F filing, buying 5,404 shares worth roughly $3.39 million. The stake represents about 2.8% of the adviser’s portfolio, making VOO its seventh‑largest holding. The move...
Bill Ackman's Pershing Square Launches Takeover Bid for Universal Music Group
Bill Ackman's Pershing Square has filed a takeover bid for Universal Music Group, planning to take the music giant private and later list it on a U.S. exchange. The move builds on Pershing Square’s existing sizable stake and follows the...
CTA Buying Surge May Quickly Flip to Selling
The Flows @t1alpha CTA Buying (epic last week) can easily become Selling Will walk you through the math on The Macro Show https://t.co/Z8lRHULEn1
Hedgeye's VIX Risk Range Analysis Delivers Recent Alpha
Undaunted and strictly process oriented, @KeithMcCullough @hedgeye provided a valuable analysis of the VIX risk range that producedexcess returns (alpha) in the last several trading days. That analysis was worth the price of admission alone. @dougkass @SamofAmerica @HedgeyeDJ
Michael Burry Bets Against Nvidia as Jensen Huang Claims AGI
Michael Burry has taken a bearish stance on Nvidia by buying long‑dated put options, warning that the stock’s trillion‑dollar valuation may be unsustainable. At the same time, CEO Jensen Huang told a podcast that artificial general intelligence could already be...
Hedge Fund Money Is Reshaping a 180-Year-Old Insurance Model
Alternative investment managers poured record capital into reinsurance, pushing catastrophe‑bond allocations to $136 billion in 2025, an 18% increase. The surge also expanded sidecar vehicles to $18 billion, tripling their size since 2023, while traditional reinsurers’ share of catastrophe losses fell to...
BlackRock’s Unprecedented Bid for a Stake in Millennium: A Defining Moment in Hedge Fund Institutionalization:
BlackRock is in advanced talks to acquire a minority stake in Millennium Management, marking the hedge fund’s first acceptance of outside equity in its 35‑year history. The partnership would give the world’s largest asset manager direct access to Millennium’s multi‑manager...
Citadel’s Fixed Income Fund Takes an 8.2% Hit: Inside the Volatility Shock That Rocked the World’s Most Sophisticated Pod Shop:
Citadel’s Global Fixed Income strategy posted an 8.2% loss in March, the sharpest drawdown for the unit in recent years. The decline was driven by a sudden repricing of bonds as oil‑price spikes raised inflation expectations and forced a steepening...
Vicus Capital Holds $71.2M of iShares Core S&P 500 ETF, Highlighting Hedge‑Fund Index Exposure
Vicus Capital disclosed a $71.21 million stake in the iShares Core S&P 500 ETF (IVV), signaling a deliberate tilt toward broad‑market equity exposure. The filing arrives as several other hedge funds, including Marshall Wace and Eisler Capital, have also expanded their IVV positions,...
Private Credit Funds Face $1 Bn Redemption Wave as Withdrawal Caps Tighten in Q1 2026
Investors pulled roughly $1 bn from private credit vehicles in the first quarter of 2026, prompting major managers such as Carlyle, Blue Owl, Apollo and Ares to impose withdrawal caps as low as 5%. The surge reflects growing borrower risk concerns...
Bill Ackman Urges Investors to Ignore Media Doom as Iran Tensions Rise
Bill Ackman, founder of Pershing Square Capital Management, posted on X urging U.S. investors to disregard bearish media narratives and buy quality businesses at “extremely cheap” prices as geopolitical risk around Iran escalates. His contrarian stance, echoing Buffett’s fear‑greed principle,...
Dara Capital US Inc. Acquires Shares of 2,674 CrowdStrike $CRWD
Dara Capital US Inc. disclosed a new 13F position in CrowdStrike, purchasing 2,674 shares valued at roughly $1.25 million, making the stock its 21st largest holding at 1.1% of the portfolio. CrowdStrike reported Q1 earnings that beat expectations, with revenue climbing...
Bill Ackman's Pershing Square Files IPO Prospectus and Launches $17.7 Bn Universal Music Bid
Bill Ackman’s Pershing Square filed a dual‑track IPO prospectus to create a closed‑end fund and list its hedge‑fund management company, while simultaneously submitting a $17.7 bn takeover offer for Universal Music Group. The moves, announced within weeks of each other, have...
Third Point Drops CoStar Proxy Fight, Sells Entire Stake as Shares Slide
Activist hedge fund Third Point, led by Daniel Loeb, has abandoned its proxy battle at CoStar Group and sold its entire stake, which was among the 15 largest shareholders. The decision follows a plunge in CoStar’s share price from $66...
ProShares SPXE ETF Short Interest Surges as Hedge Funds Increase Stakes
Short interest in the ProShares S&P 500 Ex‑Energy ETF (SPXE) surged dramatically, according to BBNS, while hedge funds and banks such as JPMorgan, RBC and LPL Financial added to their holdings. The move highlights growing market anxiety over energy‑related exposure...
The Hedge Algo Made More During Correction Months than Most Swing Portfolios Made All Year
The proprietary hedge algorithm, running alongside swing‑trading positions, generated roughly $1,500 per lot in 2024, $1,500 in 2025, and $888 in the first quarter of 2026, with a standout $1,080 profit during the Oct‑Nov 2024 correction and $660 in March...
CTA and Stock-Quant Strategies Lead Chinese Private Funds as Subjective Longs Slip
Chinese private‑fund managers reported that CTA and stock‑quant long strategies posted average YTD returns of 3.08% and 2.24% respectively, outpacing subjective long funds, which slipped to a -2.15% average. The data underscores a widening performance gap as investors gravitate toward...
Janus Henderson Calls for Defensive Carry in Multi‑Sector Credit Amid Middle East Conflict
Janus Henderson released its quarterly multi‑sector credit allocation outlook, urging hedge funds to favor short‑duration, high‑quality securitized credit over corporates as the Middle East conflict widens spreads and fuels asymmetric risks. The firm highlights residential mortgage‑backed securities and asset‑backed securities...
Coatue Co‑founder Calls for Recording All Meetings to Boost Hedge‑Fund Governance
Coatue Management co‑founder Thomas Laffont urged the hedge‑fund industry to record internal meetings, saying it would create a clear paper trail and curb misconduct. Employment lawyer Evan Fray‑Witzer warned the idea could hurt morale and raise data‑security concerns, sparking a...
CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned
Hedge funds (non‑commercial speculators) have deepened their bearish bets on long‑duration Treasuries, pushing net short positions in 10‑year note futures to 823.6 k contracts—a 5% weekly rise—and expanding 30‑year shorts to 59 k, up 86% week‑over‑week. In commodities, they remain net long...
Hedge Funds Suffer Double‑Digit Losses as Iran‑Israel Conflict and AI‑Driven Turbulence Roil Markets
Australia’s most prominent hedge funds have logged double‑digit percentage drops over the past three months, underperforming benchmarks since the start of the year. The losses are tied to heightened volatility from the Iran‑Israel conflict and rapid, AI‑driven market swings that...
Center For Asset Management LLC Sells 3,758 Shares of Exxon Mobil Corporation $XOM
Center for Asset Management LLC slashed its Exxon Mobil position by 63.3%, selling 3,758 shares and ending the quarter with 2,175 shares valued at roughly $262,000. Meanwhile, several other institutions boosted stakes, notably Schnieders Capital, which added 5,443 shares to...
Eagle Strategies LLC Acquires 2,932 Shares of Mastercard Incorporated $MA
Eagle Strategies LLC dramatically increased its Mastercard stake, buying 2,932 shares in Q4 to hold 3,520 shares worth about $2 million, a 498.6% jump. The move adds to a wave of institutional buying, with investors collectively owning 97.28% of the company’s...
Bill Ackman Mulls $5‑10 B Asymmetric Treasury Fund as Pershing Square Preps IPO
Bill Ackman is negotiating to create a new Pershing Square vehicle that will keep most assets in short‑term US government debt and make asymmetric bets against market complacency. The fund could raise $5‑10 bn and dovetails with his plan to take...
Eagle Strategies LLC Purchases 9,744 Shares of ServiceNow, Inc. $NOW
Eagle Strategies LLC dramatically increased its position in ServiceNow, buying 9,744 shares in Q4 and raising its holding to 11,915 shares valued at about $1.83 million. The purchase contributed to a broader pattern of institutional activity, with Vanguard, State Street, Nordea,...
The Hedge Fund That Stays Ahead of the Street (Matt Zabloski)
In this episode, host Travis Ricciardo interviews Matt Zablowski, founder of the Vancouver‑based natural resources hedge fund Delbrook, about the structural shift in global commodities and the under‑investment in resource exploration. Zablowski explains Delbrook’s high‑conviction, concentrated strategy—half of assets in...
One Low‑Vol Short Can Power an Entire Year’s Alpha
It is underdiscussed how much great short selling talent sits at multis, and how important alpha shorting really is to success in the multi-manager model. One big short, particularly in a low vol name you can size in dollars, can make...
Hedge Funds Turn Bearish, Raising Unwind Risk
Goldman Prime Book shows hedge funds are more bearish now than at the Liberation Day lows. The potential for a serious unwind higher is real. @dailychartbook with another gem. https://t.co/BYv3uPRt2G
Rodgers & Associates Cuts IWF Position Amid Broad Hedge Fund Rebalancing
Rodgers & Associates Ltd. trimmed its stake in the iShares Russell 1000 Growth ETF (IWF) in early April 2026, joining a wave of hedge funds adjusting positions in the $117 billion fund. While the exact size of the reduction was not...
Vavra Capital Management Boosts ETF Exposure with VWO and MTUM Purchases
Vavra Capital Management filed new SEC disclosures showing purchases of Vanguard FTSE Emerging Markets ETF (VWO) and 2,856 shares of iShares MSCI USA Momentum Factor ETF (MTUM), valued at roughly $750,000. The moves underscore a broader shift among hedge funds...
Hedge Funds' Short Covering Crushed Market as Retail Shifts
From the TFF which I much prefer to COT. The last month was clear. Long only asset managers do what they always do which is chase price. Through tuesday they were nothing but buyers and must have...
Volatility Collapse After Record Squeeze Triggers $45 Bn CTA Buying Surge
The S&P 500 index completed a full round‑trip from its March crash lows, erasing the sell‑off and resetting option positioning. Systematic flows have flipped to support, with commodity‑trading advisors projected to buy about $45 bn of US equities—the second‑largest weekly buy...
IMCO Posts 7.4% Return for 2025 Amid Volatile Global Markets
The Investment Management Corporation of Ontario (IMCO) reported a weighted‑average net return of 7.4% for 2025, its third straight year of strong performance. Assets under management rose to $90.7 bn CAD (about $67 bn USD), driven by public‑equity gains and a diversified,...