This content is from: Portfolio

The Morning Brief: Citadel Adds to Gains in June

Chicago-based Citadel’s Kensington and Wellington funds gained 1.2 percent in June, bringing their return for the year to 9.37 percent. Citadel Global Equities rose 1.59 percent last month and is up 10.44 percent for the first six months, while Citadel Tactical Trading added 1.67 percent last month and 9.94 percent for the year. The multistrategy funds’ performance was driven by equities, followed by fixed income and commodities.

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David Tepper’s Palomino Fund, managed by his Short Hills, New Jersey-based firm Appaloosa Management, slipped by 0.54 percent in June. However, the fund is still up about 13.5 percent for the year.

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O. Andreas Halvorsen’s Viking Global Investors dramatically boosted its stakes in at least two Chinese online travel companies, according to two separate filings Friday.

The Greenwich, Connecticut-based hedge fund firm said that as of July 7 it raised its position in Qunar Cayman Islands Limited to nearly 10.2 million shares, or 6.5 percent of the total outstanding. This is 10 times its reported position at the end of the first quarter. It is not known yet what its stake was as of June 30, the end of the second quarter.

Viking also disclosed that as of July 7 it owned 1.68 million shares of Ctrip.com International, or 5.2 percent of the total outstanding. This is quadruple the size of the stake it held in the Chinese travel website at the end of the first quarter. It is now known when exactly Viking started adding to its position.

Earlier last week, Viking said that on July 2 it established a new, 5 percent stake in Whiting Petroleum Corporation, an independent exploration and production company.

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Jason Karp’s Tourbillon Capital Partners disclosed that it established a new stake of 646,552 shares of Recro Pharma, or 7 percent of the total outstanding of the specialty pharmaceutical company. Shares of the $130 million-market-cap company surged 4 percent Friday on the news.

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