Chris Hansen’s San Francisco-based Valiant Capital Management extended its losses in April, posting a 2.32 percent decline for the month. Its Liquid Fund lost 2.73 percent. For the month, the firm’s side pockets were essentially flat. Hansen, who is leading a group that is trying to buy the Sacramento Kings basketball team and move it to Seattle, recently suffered a setback when the NBA’s relocation committee voted unanimously against permitting the team to move. Meanwhile, the Sacramento Bee reported that the group offering to buy the team and keep it in Sacramento met its deadline last Friday to put 50 percent of the purchase price into escrow. The NBA’s Board of Governors is scheduled to vote on the fate of the team on May 15, according to published reports.
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These are what you call home runs. Scott McLellan’s New York hedge fund firm Marble Arch Investments posted roughly 7 percent net gains in the first quarter thanks in large part to gargantuan profits from three stocks. FleetCor Technologies, which offers special payment cards for businesses, surged 43 percent after it reported fourth quarter results and 2013 guidance that exceeded forecasts. Cable giant Charter Communications jumped 37 percent after reporting strong fourth quarter results. And internet travel website TripAdvisor rose 25 percent after Liberty Interactive gained voting control, according to the hedge fund’s first quarter report to clients. McLellan is known as a Tiger Grandcub because he once worked for Tiger Cub Jonathan Auerbach of Hound Management.
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Hedge fund favorite Apple continued its rebound on Monday, climbing more than 2 percent. As a result, shares of the maker of the iPhone and iPad have surged more than 18 percent since they hit bottom on April 19.
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PointState Capital disclosed it owns 5.2 percent of PDC Energy, an oil and natural gas company. The position is passive. The hedge fund firm was formed by several former Duquesne Capital portfolio managers.
