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.
Two Harbors Posts $80.2M Loss After $375M Litigation Settlement, Shifts Credit Strategy
Two Harbors Investment Corp (NYSE:TWO) posted a $80.2 million comprehensive loss for Q3 2025 after paying a $375 million litigation settlement and selling $19.1 billion of mortgage‑servicing‑rights (MSR) assets. The firm’s cash fell to $770.5 million, its expense ratio rose, and management outlined a pivot toward higher‑coupon MSR exposure while planning a $262 million convertible‑note redemption.
Bill Ackman: This Is a “Great” Time to Invest - Even at Market Highs
Bill Ackman announced the launch of Pershing Square USA, a new closed‑end fund that gives retail investors direct exposure to his concentrated, actively managed portfolio. The vehicle mirrors the core holdings of Pershing Square’s higher‑fee funds but at a lower...
Covenant Asset Management LLC Reduces Stock Position in Starbucks Corporation $SBUX
Covenant Asset Management LLC slashed its Starbucks position by 60% in Q4, selling 12,339 shares and leaving a holding of 8,243 shares worth roughly $694,000. Several other hedge funds quietly built modest stakes in the coffee chain during Q3, collectively...
Cushing Asset Management Exits Hess Midstream with $50 M Stake Sale
Cushing Asset Management, operating as NXG Investment Management, sold all 1,357,200 Hess Midstream shares for an estimated $50.29 million in Q1 2026. The divestiture removes the midstream partnership from Cushing’s 13F portfolio and signals a shift toward more diversified energy assets.
RWC Asset Advisors Dumps $47.5 M of MercadoLibre Shares, Raising Questions on Latin America Ad Spend
RWC Asset Advisors (US) LLC sold its full 24,608‑share position in MercadoLibre for an estimated $47.47 million, ending a stake that made up 9.4% of its assets under management. The exit comes as MercadoLibre’s stock slides and its advertising arm faces...
Ackman's Fund Plummets 16% Despite Social Media Hype
Schadenfreude. Shares in Bill Ackman’s new stock-picking fund opened down 16% in their trading debut Wednesday after he struggled to harness his social-media following to attract everyday investors https://t.co/97T5ckkaAV
Ackman Possibly Forfeits $10B by Favoring CEFs
How much money is Ackman leaving on table by doing CEF vs ETF. Prob $10b at least. But tbf CEF may just be what he’s more comfortable w for his strategy. Still tho, if reaching investors is goal this prob...
Bill Ackman Goes Public, Finally (and Again)
Activist investor Bill Ackman finally took Pershing Square public with a dual IPO valued at $5 billion, split between PSUS (portfolio exposure) and PS (management business). The offering falls short of earlier ambitions of $10‑$25 billion but emphasizes retail participation and eliminates...
Galaxy Digital Posts $216 M GAAP Loss as Crypto Market Slumps
Galaxy Digital Inc. posted a $216 million GAAP loss for the first quarter of 2026, driven by a roughly 20% drop in crypto market values. The firm trimmed operating costs, repurchased $65 million of stock and signaled a $90 million adjusted EBITDA outlook...
Partial Short-Cover Initiated in Today’s Tactical Update
(PREMIUM) "Tactical Update: April 29, 2026 - Dust up..." First move today is a (partial) short-cover - via The Lyons Share https://t.co/FjyJMVoZD7 https://t.co/aJA1YVsFyf
Ken Griffin Threatens $6 Billion Midtown Project After NYC Mayor’s Pied‑à‑terre Tax Video
Citadel founder Ken Griffin warned he may abandon a $6 billion Midtown Manhattan development after Mayor Zohran Mamdani used Griffin’s $238 million penthouse to promote a new $5 million‑plus pied‑à‑terre tax. Griffin is set to meet Governor Kathy Hochul to discuss the dispute,...
Aschenbrenner’s AI‑Era Fund Boosts Bloom Energy 13‑fold
Aschenbrenner is the top fund manager of the AI Era (KISS). Bloom energy now a 13X since he got involved. $BE https://t.co/RJrhSug8xs
Bill Ackman's Pershing Square USA Closed-End Fund IPO Targets Up to $10 Billion
Bill Ackman launched the Pershing Square USA closed‑end fund IPO at $50 a share, with an initial $5 bn haul and a ceiling of $10 bn. The offering includes a free share of Pershing Square Inc. for every five shares bought, signaling...
Ones to Watch 2026: The Year’s Most Exciting Hedge Fund Launches
2026 marks a surge of hedge‑fund launches, with five newcomers—AlphaBee Asset Management, The Maples Group, Omega Systems, Repool, and Caravel Capital Investments—positioning themselves to capture niche alpha sources. The wave reflects renewed limited‑partner appetite for AI‑driven, ESG‑centric, blockchain‑enabled, and emerging‑market...
Trump Nominates Key Square Hedge Fund Exec for Senior Treasury Role
President Donald Trump nominated G Hunter McMaster II, a former Key Square Group executive, as Assistant Treasury Secretary for Financial Markets. McMaster has been performing the duties of the post since July 2025 while serving as a counselor to the Secretary. The nomination...
Ackman’s Pershing Square IPO Raises $5bn for Permanent Capital Strategy
Bill Ackman’s Pershing Square completed a $5 bn combined IPO, creating a closed‑end fund (Pershing Square USA Ltd) and an asset‑management company (Pershing Square Inc). The raise includes a $2.8 bn private placement and satisfies the condition of reaching at least $5 bn...
Hedge Fund Short Covering Drives Demand in CATL’s $5bn Share Placement
Hedge funds dominated demand for CATL's $5 bn share placement, snapping up more than $3 bn of shares as they covered short positions. The Hong Kong‑listed H‑shares have traded at a widening premium to the Shenzhen‑listed stock, driving record short‑interest and borrowing costs...
Unpredictability Creates Alpha: Stock Picking
A new NBER working paper by Lauren Cohen et al. uses machine‑learning to forecast the quarterly holdings of U.S. equity funds from 1990‑2023, correctly predicting 71% of fund trades. The study finds that stocks easily identified by a fund’s style—value,...
The “April Rebound” Gains Steam: Hedge Funds Set Strongest Comeback in Over a Decade:
Hedge funds posted their strongest monthly gain in over a decade during April, driven by a relief rally after a temporary cease‑fire in the Middle East. Multi‑strategy firms such as Point72, Millennium Management and Jain Global rebounded, with Point72 up...
Ackman’s Dual IPO Bet: Pershing Square Tests the Public Markets with $2.8 Billion Backing:
Bill Ackman’s Pershing Square Capital Management has launched a dual IPO backed by roughly $2.8 billion in private placements, merging a traditional public offering with a permanent‑capital vehicle. The hybrid structure is designed to give public‑market investors access to a hedge‑fund...
Digital Assets & AI Equity Convergence: Galaxy Digital’s $100M Bet Signals a New Era:
Galaxy Digital announced a $100 million allocation to a hybrid strategy that blends AI‑driven equities with digital‑asset exposure. The fund targets "compute‑backed" assets—hardware, cloud and data‑center infrastructure that powers both artificial‑intelligence models and blockchain networks. By shifting from pure token playbooks...
Empureon’s Growing Volatility Franchise
Empureon, a Frankfurt‑based volatility‑risk‑premium manager, has raised €1.6 bn (≈$1.73 bn) in just 2½ years, marking one of the fastest UCITS fund builds in continental Europe. The firm’s flagship Empireon Volatility One uses a systematic, rules‑based approach that sells short‑dated S&P 500 puts while...
The IPO Buzz: Ackman’s Pershing Square Raises $5B in IPO & Private Placement & Stock Falls
Bill Ackman's Pershing Square USA Ltd. (PSUS) and its manager Pershing Square Inc. (PS) raised about $5 billion through a combined IPO and private placement on April 28, 2026. The IPO was priced at $50 per share, while the private placement contributed roughly...
Patrick Drahi Secures $28 Billion Sale of Altice France, Raising Stakes for Hedge‑Fund Rivals
Patrick Drahi's Altice France is slated for a €24 billion ($28 billion) sale, delivering a massive cash payout after a year‑long debt restructuring that cut borrowings by €9 billion. The deal turns former bondholders—many of them hedge funds—into equity owners, setting the stage...
Hedge Funds Slash US Equity Leverage as S&P 500 Hits Record Highs
Hedge funds collectively trimmed US equity exposure, pulling long‑short gross leverage down 4.6 percentage points in a single week – the sharpest decline since September 2023. The move spanned nine of 11 sectors, with discretionary managers leading the sell‑off while...
ARK CEO Cathie Wood Adds $71.5 M Amazon Stake, Trims AMD and Others
ARK Invest chief Cathie Wood bought roughly $71.5 million of Amazon stock on April 24, acquiring 280,450 shares while offloading $65.8 million of AMD and other positions. The move underscores her belief that AI growth is consolidating around a few hyperscalers and the...
Saba Capital to Expand Second-Hand Liquidity Platform for BDCs, Interval Funds
Activist hedge fund Saba Capital announced an expansion of its second‑hand liquidity platform to include both public and private Business Development Companies (BDCs) and interval funds. The firm will focus on securities trading at discounts of 30% or more to...
Wealth and Firms Flee NY for Miami and Texas
UHNW, Hedge and PE funds go to South Florida (mostly miami) Corporates to Texas Till at some point NY realizes its lost the plot
BridgeWise Taps X to Bring Social Media Sentiment Into Institutional Investing
BridgeWise announced a partnership with X to feed the platform’s social media stream into its AI‑driven investment suite. The API link converts X posts into real‑time sentiment scores using BridgeWise’s S‑Factor framework and Context Analytics technology. The new product, SentimentWise,...
Stanley Druckenmiller Dumps SanDisk, Shifts to Bloom Energy as AI Power Demand Soars
Stanley Druckenmiller sold his entire SanDisk holding of 166,235 shares after a single quarter and redeployed the proceeds into Bloom Energy, a fuel‑cell maker that has rallied more than 800% since its 2018 IPO. The move signals a thematic shift...
Ping Capital Management Spends $15.9 M to Boost Stake in Banco BBVA Argentina
Ping Capital Management disclosed a $15.9 million purchase of 958,700 Banco BBVA Argentina shares, lifting the bank to 7.98% of the fund’s reportable U.S. equity assets. The move highlights growing hedge‑fund interest in undervalued Argentine banks amid volatile emerging‑market conditions.
Impact of Investor Sentiment and Geopolitical Events Hurt Booking Holdings (BKNG) in Q1
Booking Holdings reported a 17% rise in earnings per share and 16% revenue growth in Q1 2026, showing strong travel demand. Despite solid fundamentals, the stock fell as investors labeled it an “AI loser” and reacted to the Middle East...
Ackman's Pershing Square Puts 27% of Assets in Meta and Uber AI Plays
Bill Ackman's Pershing Square Capital Management has concentrated roughly 27% of its portfolio in two AI‑focused equities—Meta Platforms and Uber Technologies. Wall Street analysts see 50% to 100% upside in those stocks, prompting a debate over the fund’s risk exposure...
Embree Financial Adds $13.1 Million of iShares International Country Rotation ETF to Portfolio
Embree Financial Group increased its holding in the iShares International Country Rotation Active ETF (CORO) by 415,137 shares, a transaction valued at $13.12 million. The purchase lifts CORO to 1.7% of Embree’s reportable assets under management, reflecting a 1.55% shift in...
Winning Edge: Embrace Alternative, Short‑Term Strategies
“We stayed ahead of the pack by finding other approaches… shorter-term approaches to some extent.” — Jim Simons https://t.co/N2FMsDSoAi
Tariff Refunds: How Hedge Funds Are Structuring a New Short-Duration Credit Trade
Hedge funds have built a multi‑billion‑dollar secondary market buying U.S. tariff‑refund claims, offering businesses immediate cash in exchange for future reimbursements. After the Supreme Court ruled many Trump‑era tariffs illegal, claim prices jumped from roughly 20% to over 80% of...
Bill Ackman's Pershing Square Targets $5 B Dual IPO, Hits Low End of Range
Bill Ackman's Pershing Square is set to price a dual IPO of its hedge fund and closed‑end fund at $5 billion, the bottom of its $5‑$10 billion target. The offering, 85% covered by institutions and backed by a $2.8 billion private placement, marks...
Can Social-Media Fame Power an IPO? Bill Ackman Is About to Find Out
Bill Ackman, founder of Pershing Square Capital Management, is set to launch a dual initial public offering, listing both a new stock‑picking fund, Pershing Square USA, and his hedge‑fund management firm, Pershing Square. To entice investors, he will grant free...
Jupiter Merian GEAR’s 20 Years of Evolution
Jupiter Merian GEAR, a market‑neutral quantitative equity strategy, earned the 2025 UCITS Hedge Award and its leveraged counterpart GEARx captured the Best New Launch prize. The UCITS version maintains a 200% gross exposure and aims for cash + 5%, while GEARx doubles...
Saba Capital Targets $1bn Fund to Acquire Distressed Private Credit Vehicles
Saba Capital Management is raising about $1 billion to launch a fund that will buy distressed, illiquid private credit vehicles such as BDCs and interval funds. The strategy targets assets trading at 30‑40% discounts to net asset value, mirroring past successes...
Redwood Targets $1bn for Long-Duration Illiquid Credit Strategy
Redwood Capital Management is launching a new fund to raise roughly $1 billion for long‑duration, illiquid credit investments. The strategy will deploy capital continuously, allowing the firm to stay invested through extended restructuring cycles rather than concentrating on brief market dislocations....
Ackman’s Pershing Square IPO Set to Raise $5bn
Bill Ackman's Pershing Square is preparing a New York Stock Exchange IPO that targets roughly $5 billion of new capital, potentially valuing the activist hedge fund at about $10 billion. The offering marks the largest hedge‑fund‑to‑public listing to date and follows a...
Gen AI “Creative Destruction” In Hedge Funds: The Automation of Alpha and the Reinvention of the Investment Process:
The hedge fund industry is undergoing a "creative destruction" as generative AI moves from a thematic investment focus to a core operational engine. Large language models now automate idea generation, research, portfolio construction, trade execution, and risk monitoring, compressing cycles...
Managed Accounts (SMAs) Eclipse Commingled Funds: The Structural Shift Redefining Institutional Allocations:
Institutional investors are rapidly shifting capital from commingled hedge‑fund vehicles to separately managed accounts (SMAs). The move is fueled by a desire for real‑time transparency, bespoke risk controls and liquidity that SMAs provide. Advances in cloud‑based trading, risk analytics and...
Pantheon Secures Approval for $26.9B Infrastructure Secondaries Evergreen Fund
Pantheon has obtained regulatory approval for the Pantheon Global Infrastructure Secondaries Fund (PGIS), a Luxembourg‑domiciled evergreen vehicle that draws on its $26.9 bn institutional infrastructure platform. Open to professional investors, the fund adds to Pantheon’s $15 bn evergreen platform and broadens secondary‑market...
Berkshire’s Cash Cushion Fuels Massive AI Gamble
Totally random thought the Koala was discussing yesterday with @milken_cookies was on the Berkshire $BRK.A $BRK.B cash pile If Greg Abel threw $100 billion into Anthropic at $900 billion on a "maybe AI devours the white collar world, maybe it doesn't,...
Starboard Value Acquires Major Stake in Dynatrace
Scoop: Activist investor Starboard Value has taken a significant stake in AI-software maker Dynatrace. $DT https://t.co/DweAPubgxO
Wellington Management Expands Alternatives Platform, Opens Madrid Office and Appoints New Leaders
Wellington Management disclosed a multi‑pronged expansion of its alternative‑investment platform, the launch of a new office in Madrid and a series of senior‑leadership appointments. The moves are aimed at deepening the firm’s hedge‑fund‑style product suite and capturing more institutional flow...
Hedge Funds Trim Tech Stakes, Record Weekly Exit Amid Mixed Outlook
Hedge funds reduced US information‑technology holdings by the largest weekly amount since July 2024, marking the third‑largest exit in five years. The sell‑off, driven by long sales outpacing short covers 1.9 to 1, left tech at 20.6% of total US...
Collaboration Beats Competition for Hedge Fund Survival
Less than two years after launching his multistrategy hedge fund, industry veteran Bobby Jain has concluded that collaboration — not competition — is his best shot at survival in a world already owned by the likes of Millennium Management and...