Posted on 11/22/2010 11:04:27 AM PST by FromLori
The hedge fund looks to be heavily invested in tech, media and food
Two Connecticut hedge funds were just raided by the FBI in connection with the huge insider trading investigation that is currently underway. Both funds raided are run by former SAC traders.
Level Global is one of them.
The firm's latest 13f-HR shows the firm's top holdings are: Apple: ~$152 million (~538,000 shares) Citi: ~$105 million (27,000,000 shares) McDonalds ~$104 million (1,400,000 shares) Monsanto ~$141 million (2,950,000 shares) Oracle ~$119 million (4,450,000 shares) Sina ~$112 million (~2,220,000 shares) Virgin Media ~$445 million (~19,000,000 shares) It also has large stakes in other media companies like Cablevision, Vodaphone, Viacom and Motorola. Other focuses include retail (Talbots, Guess, Fossil) and food and food-related companies (Starbucks, Potash).
(Excerpt) Read more at businessinsider.com ...
FBI RAIDS A THIRD HEDGE FUND
The huge insider trading investigation just ensnared the hedge funds Diamondback, Global Level — and now Loch Capital in its vast web, says the Wall Street Journal.
The story isn’t available to the public yet, but apparently, the fund, which was tied to the Galleon charges earlier this year, was among the firms raided this morning.
Read more: http://www.businessinsider.com/loch-capital-fbi-raids-a-third-hedge-fund-2010-11#ixzz162T2WVch
And
Here Are The Biggest Holdings Of Just-Raided Diamondback Capital
Two Connecticut hedge funds were just raided by the FBI in connection with the huge insider trading investigation that is currently underway. Both funds raided are run by former SAC traders.
DiamondBack is one of them. The fund is heavily invested in mining and resource companies, as well as financial institutions.
The fund was also holding HGSI (~$13 in shares), the company at the center of the FrontPoint scandal.
The firm’s latest 13f-HR shows the firm’s top holdings are:
Read more: http://www.businessinsider.com/diamondback-capital-managements-biggest-stakes-2010-11#ixzz162THsRN0
Who does the FBI think it is? The law is for ‘Little People’!!!!
Steve Cohen of SAC capital did not donate to Obama so that’s why he’s being targeted.
Level Global’s David Geneck is a BIG-TIME Chris Dodd supporter.
I wonder why he is being targeted? A preemptive strike on Clintonistas and their money men?
Wow I didn’t know that I noticed theirs lots of GE (obamas buddy’s stock in one of those funds)very interesting I suppose nothing will come of this then.
Yes, Obama is targeting Clintonistas with these raids.
-----------------
Hmmm . . . . things are getting interesting. Connect those dots!
Remember, the Clintons entered the White House broke, but are now jet setting multi-millionaires.
I hope Steve Cohen doesn’t get caught up in this. He is definitely NOT an Obamabot and is also very charitable with his money. In the hedge fund world, he’s a good guy IMHO.
Cohen is Obama’s target.
I do remember they were broke. You know funny thing no one ever says anything about ex-presidents or congress persons who end up filthy rich but we still have to pay them pensions but they sure don’t want anyone with a little income to get Social Security even though they were forced to pay in they want it means tested. Of course I realize SS is a ponzi scheme and must be eliminated but just saying.
Here’s more on the big scandal...
Massive Insider Trading Investigation Could Nail Wall Street’s Biggest Names
The government is reportedly close to filing charges in the largest institutional insider-trading investigation in history.
According to initial reports, the investigation could ensnare Wall Street’s biggest names: Goldman Sachs, SAC Capital, Wellington, Jennison, MFS Global, Maverick, Citadel, and others
FBI raids three hedge-fund firms
CNBC was talking about it too.
********************************EXCERPT********************************
The raids come amid a massive government investigation into potential insider trading at hedge-fund firms, mutual funds and investment banks.
The Wall Street Journal reported this weekend that federal authorities are preparing insider-trading charges that could ensnare consultants, investment bankers, hedge-fund and mutual-fund traders. A spokesman from the Justice Department didn’t return an email and phone call seeking comment Monday.
Firms that are involved in aspects of the investigation include Goldman Sachs Group Inc. /quotes/comstock/13*!gs/quotes/nls/gs (GS 159.87, -6.80, -4.08%) , Ziff Brothers, Jana Partners, TPG-Axon Capital Management, Jennison Associates, part of Prudential Financial /quotes/comstock/13*!pru/quotes/nls/pru (PRU 52.83, -0.95, -1.77%) , UBS AG’s /quotes/comstock/13*!ubs/quotes/nls/ubs (UBS 16.29, -0.35, -2.10%) UBS Financial Services Inc. and Deutsche Bank AG /quotes/comstock/13*!db/quotes/nls/db (DB 54.13, -1.38, -2.48%) , according to the Journal.
When you set up a fund for Haiti and receive 1 billion $’s and none of it has been given to Haiti....I’d say they are more than multi-millionaires...more like billionaires...
i have known steve cohen for close to 17 years and he is a true professional. never have i ever known him to conduct himself unethically or unprofessionally. he is the consummate trader with no peer in the industry. he is being unjustifiably vilified by the government. it is a shame to see someone such as steve work as hard as he has for years and operate totally on the up and up to see the libelous and sladerous remarks being made about him. just as in the past there may be many false accusations made but he certainly will prevail. truth is on his side. by the way he was no obama supporter and is politically agnostic at least up until 6-8 months ago.
i have known steve cohen for close to 17 years and he is a true professional. never have i ever known him to conduct himself unethically or unprofessionally. he is the consummate trader with no peer in the industry. he is being unjustifiably vilified by the government. it is a shame to see someone such as steve work as hard as he has for years and operate totally on the up and up to see the libelous and sladerous remarks being made about him. just as in the past there may be many false accusations made but he certainly will prevail. truth is on his side. by the way he was no obama supporter and is politically agnostic at least up until 6-8 months ago.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.