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.
Snap’s Activist Captures the Future of Shareholder Rights
Irenic Capital Management has launched an activist campaign against Snap, urging mass layoffs, an exit from its augmented‑reality glasses business, and tighter corporate governance. The hedge fund’s push is complicated by Snap’s dual‑class share structure, which grants founder‑CEO Evan Spiegel and co‑founder zero voting rights for ordinary shareholders. Snap’s stock has slumped 75% since its 2017 IPO, yet surged about 20%—roughly $1.5 bn in market value—after Irenic disclosed its stake. The episode spotlights the growing tension between founder control and investor influence in tech firms.
Portable Alpha Gains Momentum Amid Liquidity Challenges
State of the Portable Alpha Landscape I sit down with Shane McCarthy of LAB Quantitative Strategies for a deep dive into the portable alpha and return stacking landscape, including fresh survey data on how allocators are approaching this space today. 00:00 Welcome...
March Hurts Long‑short Equity; April Rebounds Sharply
March was a challenging month for long short equity hedge funds as junk stock shorts materially outperformed (+7bps on the month). The GS VIP Long vs GS Most Shorted basket fell -7.6%, dropping its YTD performance to -14.4%. That said, April is...
Frank Rimerman Advisors LLC Buys 14,439 Shares of ServiceNow, Inc. $NOW
Frank Rimerman Advisors LLC dramatically increased its holding in ServiceNow, buying 14,439 shares in Q4 and boosting its stake by 412.5% to 17,939 shares valued at roughly $2.75 million. The move adds to a wave of institutional activity, with several other...
Inside Hedge Funds' Secret Market Regime Detection Method
The secret hedge funds use to detect market regimes... A 37 page PDF reveals everything:
Dock Street Asset Management Inc. Boosts Stock Position in ServiceNow, Inc. $NOW
Dock Street Asset Management dramatically increased its stake in ServiceNow, buying 183,887 shares to bring its holding to 227,662 shares worth roughly $34.9 million, representing about 3.2% of its portfolio and making ServiceNow its 10th largest position. The stock opened at...
Light Portfolio Delivers 6.5% Alpha, 5% Beta Gains
Positions are super light. Alpha up 6.5% YTD 2% of AUM in SPX Puts bought on yesterday close A boatload of STIR bought higher but exposed to rate cuts and recovering That's it Beta up 5% YTD cuz own gold and commodities as...
Kite Lake Secures $700M, Signaling Hedge Fund Appetite
𝐓𝐇𝐈𝐒 𝐈𝐒 𝐍𝐎𝐓 𝐀 𝐉𝐎𝐊𝐄! Kite Lake raised $700 million in new cash, signaling improving appetite for hedge funds. The event-driven trading specialist reopened for a day to take in the money and closed it to further capital again. https://t.co/8wIkR828BM
There Can Only Be One
The managed‑future (CTA) industry has moved from a niche, high‑fee boutique model to an increasingly institutionalized landscape, culminating in the launch of trend‑following ETFs. These ETFs offer investors higher liquidity, lower fees—often under 100 basis points—and comparable returns to traditional...
Sona Asset Management Strengthens Japan Focus
Asset manager Sona has hired two senior executives to deepen its Japan outreach, ahead of a new Tokyo office later this year. Suzutaro Kuroyanagi joins as Senior Manager of Japan Business Development and Investor Relations in Tokyo, bringing over three...
Billionaire Ken Griffin Buys 2 AI Stocks Chasing a $1 Trillion Market Opportunity in Robotaxis (Hint: Not Tesla)
Billionaire hedge‑fund manager Ken Griffin doubled down on the robotaxi opportunity in Q4, buying sizable positions in Nvidia and Amazon while exiting Tesla. He views the autonomous‑driving market as a potential $1 trillion U.S. revenue stream, driven by 3 trillion annual vehicle miles...
Ares Management Reports Soft Q1 Performance Income:
Ares Management reported preliminary Q1 2026 realized net performance income of $75 million, up from $41 million a year earlier but shy of analysts’ roughly $100 million forecast. The shortfall stems from the timing of exits in its European‑style funds, which generate lumpy...
Fairmount Funds Sells Cogent Biosciences (COGT) Shares for $242.6m
Fairmount Funds Management LLC sold 7 million Cogent Biosciences shares for $242.6 million on March 31, 2026, at $34.66 per share. The stock subsequently climbed to $38.49, reflecting a 565% return over the past year and a 172% gain in the last six...
Saba Capital Poised to Win Edinburgh Trust’s SpaceX Stake From Baillie Gifford
Boaz Weinstein’s Saba Capital Management is on track to replace the board of Edinburgh Worldwide Investment Trust Plc at an April shareholder meeting, positioning the hedge fund to control a $1 bn portfolio that includes a 17% stake in SpaceX. The...
Big‑Bank Collars Neutralize Retail Bets on S&P
Don't even ask the question. The answer is yes, it's within the collar. Think the S&P is going to rip to new all-time highs? Sorry, there's a short call at 7155 capping your upside. The hedge fund already sold it....
Blackstone Launches First Hedge Fund for Mini‑Millionaire Investors
Blackstone, the $1.3 trillion asset manager, announced the launch of its first hedge fund designed for affluent and mini‑millionaire investors. The product will make relatively liquid bets across credit, equities and special‑situations, allocating about 30% of assets to other hedge funds,...
Taula Secures $1.75B, Pushes AUM Past $8.5B
Diego Megia’s macro hedge fund Taula has raised $1.75 billion in new cash, adding to its asset base as an expanding team of portfolio managers enhances its capacity to manage more money. Total AUM: more than $8.5 billion. That's despite...
Goldman Traders Spot Hedge Fund Capitulation as Short Sales Surge in U.S. Equities
Goldman Sachs’ prime trading desk says hedge funds have trimmed global equity holdings for a sixth straight week, widening short positions and flagging a broad capitulation in U.S. stocks. Short exposure in European macro products hit 11%, a decade‑high, while...
Buy CZR, Short BOOT: Hedgeye Team’s Top Picks
Lots of alpha coming out of the team this morning with the Buy $CZR from Jenks @HedgeyeGLL and Short $BOOT barn from McGough @HedgeyeRetail
Significance Capital Launches with Focus on Market Inflexion Points
Hedge‑week’s latest roundup highlights a wave of strategic launches and restructurings across the alternative‑investment landscape. Significance Capital debuted with a focus on market inflection points, while Blackstone announced its first high‑net‑worth‑individual hedge fund. Established players such as Goldman Sachs warned...
Columbus Macro LLC Acquires 1,914 Shares of iShares Core S&P 500 ETF $IVV
Columbus Macro LLC increased its stake in the iShares Core S&P 500 ETF (IVV) by 1,914 shares during Q4, bringing its total to 25,984 shares valued at roughly $17.8 million. The holding now represents about 1.9% of the firm’s portfolio, making...
Brookstone Capital Management Increases Holdings in Invesco QQQ $QQQ
Brookstone Capital Management boosted its holdings in the Invesco QQQ ETF by 10.3% in the fourth quarter, adding 46,391 shares to bring its total to 495,804 shares. The stake, valued at roughly $305 million, now accounts for 3.5% of Brookstone’s portfolio,...
Multi-Strategy Leads in February
Multi‑strategy hedge funds led South African hedge fund performance in February, posting a median 1.52% gain, while the HedgeNews Africa Single Manager Composite rose 1.33%. The broader market rallied, with the FTSE/JSE All‑Share Index up 7.01% and the All Bond...
Distressed Hedge Funds “Circle” Private Credit: A New Cycle of Opportunity Emerges:
Distressed hedge funds such as Strategic Value Partners are shifting focus to private credit as early signs of stress appear after years of rapid growth and loose underwriting. Redemption pressures and higher borrowing costs are exposing liquidity mismatches and credit‑quality...
SK Securities Launches Public Fund Mixing Four Top Korean Hedge Funds, Slashing $220k Entry Bar
SK Securities has introduced the Daor Orca Alpha Selection Mixed Asset Investment Trust, a public fund that aggregates strategies from four leading Korean hedge funds. The product cuts the minimum investment from 300 million won (about $220,000) to a level accessible...
Evercore ISI Predicts 'Inflection Point' Is Days Away, Plans to Commit Capital if S&P 500 Drops to This Level
Evercore ISI managing director Julian Emanuel warned that the market is approaching an inflection point within days, hinging on President Donald Trump's decision on Iran's energy facilities on April 6. He said Evercore will commit new capital if the S&P 500 falls...
Beat 2025 Quant Hedge Returns in 2026
2025 quant hedge fund returns. And you think you cannot compete in 2026? You can, this is how:
Hedge Funds Ramp Up Short Bets on U.S. Stocks, Shift to European Defensives
Hedge funds have intensified short‑selling on U.S. equities, posting the fastest net sell‑off since April 2025, while simultaneously boosting long positions in defensive European stocks. The move reflects heightened geopolitical risk from the Iran conflict and a broader risk‑off tilt...
CTAs Near Max Short, Set to Become Buyers
CTAs Near Max Short From GS via BBG: - CTA sold $190B this month and are now short $50B of global equities - Cullen Morgan: “The systematic community is running out of steam” “Asymmetry lives to the upside — over the next month,...
Be in the Know. 12 Key Reads for Monday…
Investors poured record money into a Hong Kong tech ETF despite regional volatility, while hedge funds are rapidly shedding equity positions, with trend‑following managers shorting roughly $190 billion of stocks. Dividend‑focused funds attracted strong inflows as investors chase safety, and Morgan...
Net Worth Advisory Group Grows Stock Position in Johnson & Johnson $JNJ
Net Worth Advisory Group boosted its Johnson & Johnson holding by 24%, adding 2,820 shares to a total of 14,557 shares worth roughly $3.0 million. The move follows a wave of institutional activity, with AustralianSuper and the National Pension Service expanding...
Hedge Funds Capitulate: Record US Selloff and Europe Shorts Surge
Hedge Fund Selling Shows Signs of Capitulation From GS via BBG: - “Some signs of capitulation are starting to emerge” - Funds cut global equities for a 6th straight week - Europe macro product shorts are at a 10-year high - CHART: US selling hit...
Sava Mihic Launches Hedge Fund with Backing From Billionaire Kerr Neilson
Sava Mihic, a former Platinum Asset Management quant, has unveiled his own hedge fund, Mihic Fund Management, with financial backing from Platinum founder Kerr Neilson and fellow alumnus Jim Simpson. The launch marks Mihic’s first public foray after more than...
SMA Capital Drives Protean Select to Lower Capacity Limit
Protean Select, the long/short equity hedge fund launched in 2022, is cutting its capacity limit from SEK 2 billion (≈$220 million) to SEK 1 billion (≈$110 million) as assets near the new cap. The fund now manages roughly SEK 970 million (≈$107 million) and has halted...
The “Second-Tier” Multi-Manager Surge: Hedge Fund Capital Flows Find a New Frontier:
The hedge fund industry is witnessing a shift as flagship multi‑manager platforms such as Citadel and Millennium hit capacity limits and begin returning capital. Institutional investors are redirecting sizable inflows toward “second‑tier” multi‑manager firms like Balyasny, Schonfeld and ExodusPoint, which...
Bill Ackman Says S&P 500 P/E Is Justified, Warns Investors on Valuation Risks
Bill Ackman, Pershing Square’s founder, told shareholders the S&P 500’s forward price‑to‑earnings ratio of 20.6 × remains high but defensible because the index’s top ten stocks are projected to grow earnings over 20% annually. His public stance, coupled with a $250,000...
David Abrams Portfolio Analysis: Key Positions, Concentration & Value Strategy
Abrams Capital Management reported a $5.67 billion equity portfolio that remains extremely concentrated, with the top ten holdings accounting for roughly 99% of assets. The fund’s core positions are dominated by Loar Holdings, Lithia Motors, and other automotive‑related companies, while modest...
Unusual Options Surge Hits iShares Expanded Tech-Software ETF (IGV)
The iShares Expanded Tech-Software Sector ETF (IGV) experienced an unusually large surge in options trading, prompting several hedge funds to dramatically adjust their equity positions. The activity highlights heightened speculation and hedging in the tech‑software space as investors brace for...
Bill Ackman Says S&P 500 P/E Still Justified at 20.6x
Bill Ackman, Pershing Square founder, warned investors that the S&P 500’s forward price‑to‑earnings ratio of 20.6×, while above historic averages, is warranted by the earnings growth of the index’s biggest stocks. His view supports recent buying in Amazon and a...
Foreign Investors Dump $52 Billion From Asian Emerging‑Market Stocks in March, Record Outflow
Foreign investors sold roughly $52 billion of Asian emerging‑market equities excluding China in March, the biggest monthly withdrawal on record. The outflow eclipses the 2020 pandemic sell‑off by 49% and the June 2022 Russia‑Ukraine war outflow by 148%, raising alarms about capital‑flow...
As Stocks and Bonds Fall, and Oil Hits $100, a Futures Trade that Boomed in 2022 May Again Be a...
Managed‑future strategies, long favored by hedge funds, are seeing renewed investor interest as stocks and bonds tumble amid geopolitical tension and stagflation fears. The niche managed‑futures ETF sector, now holding roughly $6.5 bn, has attracted about $1 bn of inflows this year,...
Capital Investment Advisors LLC Decreases Stock Holdings in Procter & Gamble Company (The) $PG
Capital Investment Advisors LLC reduced its Procter & Gamble (PG) holding by 1.8% in Q4, selling 3,740 shares and leaving a stake of 203,928 shares valued at about $29.2 million. Meanwhile, several other institutions expanded their positions, with Norges Bank adding...
Buffett’s Zurich Acolyte Says Odds of Beating Market Keep Fading
Guy Spier, the Zurich‑based founder of the $470 million Aquamarine Fund, announced the fund’s closure after his brain‑cancer relapse and a prolonged streak of underperformance. He argues that artificial‑intelligence tools have leveled the research playing field, making traditional Buffett‑style stock picking increasingly...
AllianceBernstein Says Credit‑Spread Dispersion Boosts Systematic Hedge‑Fund Strategies
AllianceBernstein’s systematic investing head, Bernd Wuebben, warns that unusually wide credit‑spread dispersion is steering hedge funds toward bottom‑up, systematic approaches. The firm argues that tight average spreads combined with issuer‑level variance creates a security‑selector market where traditional beta is scarce.
ARK Pivots From Chips to Biotech, Trims High‑beta Semis
Macro: ARK shifts from semiconductors to biotech. Key: sold ~$38M NVDA; bought $0.34M ARCT. Risk: tech momentum reversal. Trade: trim high-beta semiconductors. — Viktor Kopylov, PhD, CFA More insights: t.me/si14Kopylov
Dragonfly Premium Top 10 Gains 54.5bp Weekly
Dragonfly Capital Premium Top 10 Equal Weighted added 54.5bp on the week using 60% of capital. YTD +12.96% https://t.co/b4n2bgl7Cl https://t.co/PuQHzHIraB
Blue Owl Capital Closes $3 B Strategic Equity Secondaries Fund, Boosting GP‑Led Market
Blue Owl Capital announced the final close of its inaugural Blue Owl Strategic Equity (BOSE) fund with more than $3 bn in commitments. The vehicle targets GP‑led continuation funds and minority equity deals, arriving as GP‑led secondaries hit record volumes.
Citadel’s Barratt Departs After Losses on Spirit, Other Trades
Citadel has terminated its credit portfolio manager Zachariah Barratt after a series of losses. The losses were driven largely by a failed bet on Spirit Aviation Holdings and other underperforming credit trades. Barratt, who moved to Citadel from Apollo Global...
Hedge Fund and Insider Trading News: Paul Singer, Seth Klarman, Crispin Odey, Bill Ackman, Ray Dalio, Millennium Management, Saba Capital...
Prominent hedge fund figures disclosed divergent strategies as Paul Singer dismissed the notion of a talent war, citing a robust market and higher fees. Meanwhile, billionaire investor Seth Klarman redirected $600 million into three new positions while shedding a large Alphabet...
Millennium Management Pulls $3.6 Bn From Engineers Gate, Ends Three‑Year Partnership
Millennium Management is reclaiming capital from Engineers Gate, ending a three‑year partnership. The two firms disagreed on liquidity terms, with Millennium valuing the allocation at $3.6 bn and Engineers Gate at $1.5 bn. The split will be completed by month‑end, reshaping Millennium’s...