Family offices boosted their stock holdings in the second quarter and trimmed their exposure to real estate and private market investments
According to the latest CNBC Family Office Portfolio Tracker. Single family offices held 37% of their portfolios in stocks in the second quarter, up from 34% in the first quarter, according to the CNBC Portfolio Tracker powered by Addepar, the foundational data and artificial intelligence platform used by financial professionals globally. Source: CNBC
U.S. corporate net interest payments have plunged to the lowest in decades
Source. Bloomberg, Hedgeye
Michael Burry has opened a bullish position in Nvidia $NVDA
Labeling the position as a "hedge" Source: Michael Burry Stock Tracker ♟
The US plans to restore diplomatic personnel to embassies across the Middle East after withdrawing staff due to the war on Iran, Reuters reports.
US missions in Israel, Jordan and Oman are expected to return to full staffing. This news came in as: 1. Russian media is reporting, citing Pakistani sources, that the U.S. and Iran may be close to agreeing on a ceasefire. 2. According to Iran’s Foreign Minister, Iran and Oman have discussed an interim framework to reopen the Strait of Hormuz. Source: Al Jazeera English
The SEC has launched an investigation into the trading of Leopold Aschenbrenner's Situational Awareness fund, per NYT.
The SEC sent subpoenas to multiple banks who gave Situational Awareness money to trade with, asking for details about the timing of trades and how Situational Awareness communicated with lenders. Source: Trend Spider
This is something you don't see every day: a severe negative correlation between High Beta stocks and Low Volatility stocks.
At -0.52, the 45-day correlation between these groups is the lowest on record. Source: Jeff Weniger
A $636M bet on Italy’s ultra-luxury hotel boom.
Billionaire investor Sir Christopher Hohn’s TCI has quietly built a major exposure to loans backed by some of Italy’s most prestigious hotels. 🏨 $392M — Hotel Danieli, Venice 🌊 $132M — Caesar Augustus, Capri 🏔️ $74M — Six Senses, Lake Como 🏙️ $38M — Mandarin Oriental, Milan The thesis is simple: scarcity + pricing power. Italy’s revenue per available hotel room surged 53% between 2019 and 2025, the strongest increase in Europe, driven largely by luxury properties. Historic palazzi, prime waterfront locations and strict planning rules mean supply cannot easily respond to booming demand from wealthy international travellers. For Hohn—an investor obsessed with businesses able to raise prices faster than inflation—ultra-luxury Italian hotels increasingly look like real-estate monopolies in disguise. And TCI is financing them. Source: FT
An experimental personalized cancer vaccine from Merck and Moderna showed positive initial results in its first-ever late-stage trial.
The companies announced it Wednesday, bringing them one step closer to filing for approval of the treatment option. Merck shares climbed more than 12% on Wednesday, while Moderna’s stock soared about 177%. The size of those moves reflect the companies’ relative size entering Wednesday: Merck’s market cap was around $333 billion, while Moderna’s sat near $25 billion. Meanwhile, short sellers betting against Moderna $MRNA are sitting on $5.5 billion paper loss in a single day after the stock jumped 177%. Their total losses on the trade this year now stand at $7.7 billion. Source: Bull Theory CNBC
