AQR Capital Management reaches mid-year with double digit returns, source says
The $142 billion hedge fund returned a positive 0.9% performance in June in its multi-strategy fund, Apex Strategy, with a net 11.4% return so far this year, the source with knowledge of the matter said.
AQR's Helix Strategy which trades equity trends posted an 0.4% return for June and is up 7.4% for the year through June.
But the hedge fund's AQR Delphi Long-Short Equity Strategy June performance declined 2.1% in June, still leaving it with a positive 11.6% half-year return.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Miami Herald
3 hours ago
- Miami Herald
Nissan has a genius plan to make money from auto tariffs
Nissan was not quite ready to become a subsidiary at the start of the year. On February 13, Honda CEO Toshihiro Mibe announced that the two Japanese carmakers would not consummate their merger agreement, which would have created the third-largest carmaker in the world by sales. Related: Toyota and Honda play a giant role in US-Japan trade negotiations Apparently, at the last minute, Honda proposed to divert from its original intention to one where "Honda would be the parent company and Nissan the subsidiary through a share exchange," a condition that broke down talks. Nissan and Honda (HMC) announced their intent to merge in December. Still, a month earlier, Nissan execs told the Financial Times that the automaker had "12 to 14 months" to survive if circumstances didn't improve. In May, Nissan announced it will be laying off 20,000 workers, about 15% of its workforce, including the 9,000 it announced in 2024 would be laid off through March 2028. Nissan is also closing seven of its 17 global factories. The moves are all part of a recovery plan to reduce costs by $3.4 billion. But instead of reducing costs, Nissan's latest move raises money by using the current tariff environment to its advantage. While President Donald Trump's administration has been in close contact with the auto industry throughout the process, the 25% auto tariffs he imposed in April have had long-lasting repercussions, as intended. Trump declared Liberation Day on April 2, 2025, but the auto industry, particularly in Japan, had been preparing for this eventuality for months. "We will be looking at how to absorb short-term shocks and what concrete measures we can take to deal with these shocks, as well as how to deal with them in an all-Japan manner," said Japan Automobile Manufacturers Association Chairman Masanori Katayama. Additionally, Katayama said the group discussed its strategies to absorb and mitigate potential tariffs with the country's Ministry of Economy, Trade and Industry officials. Nissan is reportedly negotiating a creative strategy to earn money while also helping a fellow Japanese automaker. Related: Nissan makes shocking move to battle tariffs Nissan is in talks to supply cars to Honda in the U.S., using the unused manufacturing capacity at its Canton plant in Mississippi. The company is considering building Honda pickup trucks at the Canton plant, where it currently builds models like its Frontier pickup. Nissan said in a statement viewed by Reuters that it would continue to work with Honda but would not speculate on any future plans. While Trump has pushed back his negotiations by another month, it appears that the U.S. and Japan are still far apart in negotiations. Ryosei Akazawa, Japan's lead trade negotiator, said Tuesday that negotiations must include auto industry concessions. Akazawa said he held a 40-minute phone call with U.S. Commerce Secretary Howard Lutnik, where "we are trying to agree on a package of measures." According to Reuters, those measures include expanded trade, non-tariff barriers, and cooperation on key economic security issues. However, the biggest issue on the table is Japan's auto sector. "There's no point striking a deal with the U.S. without an agreement on automobile tariffs," Akazawa said. "The two countries must garner trust through sincere dialogue, and reach common ground step by step. Through such a process, my job as negotiator is to agree on a full package as soon as possible." While General Motors still has the highest market share at 17% and Ford ranks third with a 13% market share, foreign models from Asia round out the top five, according to Cox Automotive data. Toyota ranks second with 15% U.S. market share, while Korean brand Hyundai ranks fourth with 11%. Toyota's fellow Japanese brand, Honda, is fifth in the market, with 9%. Related: President's latest interview gives US automakers much-needed boost The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.


USA Today
7 hours ago
- USA Today
Would Mamdani's 'millionaire tax' chase the rich out of New York City?
In her unsuccessful 2024 presidential campaign, Democratic candidate Kamala Harris pledged to preserve most of Donald Trump's 2017 tax cuts, with at least one notable exception: She would have raised taxes on the wealthiest Americans. Now, the Democratic nominee for mayor of New York is floating a similar proposal. Among other plans, Zohran Mamdani wants to raise income taxes on the wealthiest New Yorkers by 2%. The idea, in both cases, is to create revenue by taxing rich people and use the money to pay for other initiatives. Harris sought taxes from the wealthy to pay down the nation's estimated $2 trillion deficit. Mamdani, a democratic socialist, wants free city buses and a freeze on New York rents. Taxing the rich has worked before. In the World War II era, the wealthiest Americans endured a top tax rate above 90% to buoy the economy. But would it work now? Millionaires might flee higher taxes The standard objection is that raising taxes on wealthy Americans will chase them away. They will leave the city, the state or the country, or take steps to avoid paying taxes, such as moving wealth offshore. Here's how opponents greeted Mamdani's proposal: New York Gov. Kathy Hochul, who could veto a tax hike, has said it would prompt millionaires to flee. 'I don't want to lose any more people to Palm Beach,' she told a television interviewer, according to the New York Post. In a commentary for Reuters, financial writer Marty Fridson warned of 'the possibility, if not the probability, that many high earners will leave NYC to escape the added tax bite.' The New York Times assembled a rail of escape-from-New-York quotes from business leaders. Sample: 'We may consider closing our supermarkets and selling the business,' said John Catsimatidis, owner of the Gristedes chain, speaking to The Free Press. Mamdani's campaign estimates that a 2% tax on New Yorkers earning more than $1 million a year would raise $4 billion a year. That projection wouldn't pan out, of course, if enough millionaires left the city to avoid the tax. Are 'millionaire tax' warnings overblown? Are the dire warnings overblown? Maybe so, according to copious research on taxes and their impact on migration. But a lot depends on whom you ask. Higher taxes don't generally prompt wealthy people to move, said Kamolika Das, local policy director at the Institute on Taxation and Economic Policy, a left-leaning think tank. 'Tax policies just really don't drive relocation decisions,' Das said. 'They've been claiming this for a long time, and there's just very scant evidence to support it.' A 2023 study by the nonpartisan Fiscal Policy Institute found 'no evidence of significant tax-motivated migration' from New York State, even after tax increases. The main reasons: Top 1% earners move at a lower rate than other income groups. And when they do move, they generally relocate from one high-tax area to another. In 2004, New Jersey raised its top income tax rate on high earners by 2.6 percentage points. 'In the next year, a total of 37 millionaires left,' said Lindsay Owens, executive director of the Groundwork Collaborative, a progressive thinktank. 'But in that very same year, the millionaire population of New Jersey increased by more than 3,000 individuals.' Not all researchers agree. California lost high earners over taxes Fridson, the Reuters columnist, cites a study from the nonprofit California Center for Jobs & the Economy. It shows a net loss of $5.3 billion in personal income tax from high earners leaving California in a five-year span after a 2016 ballot measure that extended higher taxes on the wealthy. Higher taxes in New York 'will raise revenue. There's no question of that,' said Jared Walczak, vice president of state projects at the nonpartisan Tax Foundation. But a tax hike 'does drive some people out,' he said, 'and it can be more significant in New York City than it would be at the state or the national level.' Leaving the United States over taxes is one thing, Walczak said. Moving from Manhattan to Hoboken, New Jersey, is quite another. 'It is much harder to leave a country than to leave a state,' he said, 'and harder to leave a state than to leave a city.' Walczak notes that the 2% tax increase proposed by Mamdani is a flat rate on all income earned by a wealthy New Yorker, 'down to their first dollar.' It would raise the top tax rate in the city from roughly 3.9% to 5.9%. At that rate, high earners 'would be paying more in city taxes in New York than they would be paying in state taxes in most states,' Walczak said. The remote-work boom of recent years spawned pandemic "boom towns," generally lower-tax cities that filled up with refugees from higher-tax cities who could work remotely. "I could work for a firm in New York City but take my residence to, I don't know, Austin, Texas, where they don't have any income tax," said Therese McGuire, professor of strategy at Northwestern University's Kellogg School of Management. Research by the Tax Foundation shows that high-tax states tend to lose residents to other states, while low-tax states tend to gain them. Taxes are one factor among many, including jobs, weather, quality of life and the broader cost of living. Other studies suggest that millionaire tax flight is happening, but 'only at the margins,' and at a negligible rate. 'We make our decisions about where to locate ourselves and our families based on a whole host of considerations, many of which are not pecuniary,' Owens said.
Yahoo
10 hours ago
- Yahoo
Taiwan Semiconductor Manufacturing (TSM) Announces Net Revenue for June 2025
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the 10 Best Semiconductor Stocks to Buy According to Reddit. The company announced its net revenue for June 2025. On a consolidated basis, revenue for June 2025 was ~NT$263.71 billion, reflecting a decline of 17.7% from May 2025, and a rise of 26.9% from June 2024. Furthermore, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)'s revenue for January through June 2025 came in at NT$1,773.05 billion, a rise of 40.0% compared to the same period in 2024. A close-up of a complex network of integrated circuits used in logic semiconductors. Revenue for April-June stood at T$933.8 billion ($31.9 billion), as per Reuters calculations, increasing 38.6% from T$673.51 billion in the year-ago period. The demand for Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)'s products continued to leap on increased interest in AI applications, added Reuters. The company's consolidated revenue came in at NT$839.25 billion, net income at NT$361.56 billion, and diluted EPS at NT$13.94 (US$2.12 per ADR unit) for Q1 2025. While Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)'s business was impacted by smartphone seasonality in Q1 2025, this was offset by continued growth in AI-related demand. Longriver Investment Partners released its Q2 2025 investor letter. Here is what the fund said: 'Underpinning all of this is one constant. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) remains the lynchpin of the AI compute stack. Every major chip, whether merchant or custom, still runs through its fabs. No other foundry comes close on yield, throughput, or consistency. While we acknowledge the potential of TSM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now Disclosure: None. This article is originally published at Insider Monkey.