There aren't too many funds out there who actively give back capital on a quarterly basis to investors to ensure they aren't over capacity, and the ones you do hear about are usually shutting down a fund or kicking out the outside money all together.
> The firm told staff that they would be allowed to increase their Medallion stakes by at least 50 percent. The catch: they had just weeks to come up with the money.
This seems a bit punitive to the "rank and file" employees as if RenTech is like any other fund then...
- most of the executives probably have orders of magnitude more money in the fund already so a flat 50% increase benefits them alot more.
- its much easier for someone will 100's of millions in existing assets to get a loan in a week than someone with single digit millions or less.
As a side note, the link in the article was posted before but its still a terrific article if you want a look at RenTech
https://www.bloomberg.com/news/articles/2016-11-21/how-renai...
Just for fun RenTech just filed their 13F here are positions they sold or reduced:
AMD US (Advanced Micro Devices Inc), CVS US (CVS Health Corp), PCLN US (Priceline Group Inc/The), TEVA IT (Teva Pharmaceutical Industries Ltd), TSLA US (Tesla Inc), AET US (Aetna Inc), CMCSA US (Comcast Corp), FB US (Facebook Inc), MRK US (Merck & Co Inc), PX US (Praxair Inc),
and positions they added:
ADSK US (Autodesk Inc), AIG US (American International Group Inc), MCK US (McKesson Corp), PFE US (Pfizer Inc), WDAY US (Workday Inc), BMY US (Bristol-Myers Squibb Co), CL US (Colgate-Palmolive Co), DPZ US (Domino's Pizza Inc), EA US (Electronic Arts Inc), NVDA US (NVIDIA Corp)
Top holdings: NetEase Inc.-ADR: up 456,300 shares, to 2.73 million valued at $819.5 million
Johnson & Johnson: down 970,500, to 6.13 million valued at $811.2 million
Bristol-Myers: up 7.02 million, to 13.5 million valued at $751.6 million
Gilead Sciences Inc.: up 2.7 million, to 10.4 million valued at $736.7 million
Colgate: up 2.9 million, to 9.75 million valued at $723 million
The hedge fund manager's disclosed holdings rose 9.5 percent in value in the second quarter to $78.3 billion. The Standard & Poor's 500 index advanced 2.6 percent.