Saturday, May 1, 2010

Hedge Fund Performance Numbers: First Quarter 2010

On April 7, 2010, Market Folly wrote: Today we wanted to check in on how some of the prominent hedge funds have fared thus far in 2010. We've previously posted up some 2009 hedge fund performances and now it's time for the next update. Turning to this year, some hedgies just keep on chugging while others have surprisingly stumbled. Two days ago we noted how global macro funds have lagged, so let's see who else has been having trouble. Thanks to the anonymous investors who have sent us updates, HSBC, ZeroHedge, and CreditSuisse for the data.

Q1 2010 Performance

Third Point LLC: Dan Loeb's offshore fund was up 8.1% in March (and +15.58% for the year as of the end of March). Their Ultra fund was up 9.1% for the month (16.5% for the year), and their Partners fund was up 9% for the month (16.9% year-to-date). We recently took note that they were one of the best performing funds in 2010 thus far and we also posted up Third Point's commentary. Later this morning we'll post up an in-depth look at their portfolio & exposure levels as well.

Och-Ziff Capital Management: Their OZ Master Fund was up 1.14% in March and up 2.65% for the year. Their Asia Master Fund was up 4.01% in March and up 5.23% for the year. Their Global Special Investments fund was up 1.05% in March as well. Daniel Och and the Ziff brothers all appeared on the latest Forbes' billionaire list.

Greenlight Capital: David Einhorn's fund was down 1.33% for the year as of the end of March. We recently pondered whether Einhorn's Vodafone (VOD) thesis would would pan out or not and looked at Greenlight's investor letter.

Harbinger Capital Partners: Philip Falcone's hedge fund was up 1.77% for the year at the end of March. They also recently announced plans for a 4G wireless network.

Renaissance Technologies: Jim Simons' quant firm RenTec saw their RIEF (Class B) fund up 4.82% for the year as of the end of March. Simons is profiled in Scott Patterson's new book, The Quants.

Paulson & Co: John Paulson's various hedge funds have had mixed performance. His Advantage Plus fund was -1.18% for the year as of February, his Advantage fund -0.93%, his International fund up 0.47%, his Credit fund up 3.35%, and his Enhanced fund up 0.99%. In the past, we've also taken an in-depth look at John Paulson's new gold fund.

Viking Global: Andreas Halvorsen's hedge fund appears to be struggling as Viking was -0.1% for the first quarter. We've previously covered Viking Global's portfolio as well.

Shumway Capital Partners: Chris Shumway's fund was up 3.62% for the month of March and sat up 2.20% for the year at that time. For those interested, here's our coverage of Shumway's portfolio.

Pershing Square Capital Management: Bill Ackman's hedge fund was up 3.7% for the month of March and up 5.62% for the year. In the recent past we took a look at Pershing's economic exposure to General Growth Properties (GGP), one of their big-time winning positions.

Maverick Capital: Lee Ainslie's hedge fund was -0.30% for March and up 4.08% for the year at that time. We've previously taken a look at Maverick's portfolio.

Millennium Partners: Israel Englander's fund was up 0.98% in March and found themselves up 3.58% year to date for 2010. Israel recently appeared on Forbes' billionaire list.

Omega Advisors: Legendary hedgie Leon Cooperman saw his Overseas fund up 3.12% in March and up 3.26% for the year at that time. Fortune recently had a nice interview with Cooperman here.

Zweig-Dimenna: Down 2.18% for the year after gaining 0.81% in the month of March.

Eminence Capital: Ricky Sandler's hedge fund was up 1.50% in March and sits up 0.66% for the year as of then. We recently took a look at Eminence's portfolio for those interested.

Everest Capital: Marko Dimitrijevic's Asia fund was -7.11% at the end of March and his China Opportunity fund was -6.69%. We covered Dimitrijevic's thoughts at a hedge fund panel and also covered a profile of Everest.

Altima: Their global special situations fund was -7.19% as of the end of March.

Bluecrest: Up 0.62% for March and up 5.10% for 2010.

Lansdowne: Their UK Equity fund was up 8.28% through the end of March. We've only covered Lansdowne's portfolio once in the past.

Bluemountain: Up 1.46% in March and 4.64% for the year at that time.

Owl Creek: Jeff Altman's overseas fund was up 7.98% through March. We previously posted up some of Altman's insight at a hedge fund panel and you can also read Owl Creek's latest letter here.

Tudor Investment Corp: Paul Tudor Jones' Global BVI Fund: -0.55% as of the middle of March. Their Tensor fund was -1.96% as well. We've covered Tudor's investor letter in the past.

Caxton Associates: Bruce Kovner's Alpha fund was up 6.34% for the year as of March and his Global fund was up 2.65% at that time.

Moore Capital Management: Louis Bacon's flagship fund: +1.58% YTD. Emerging Markets Fund -5.88% for the year as of the middle of March.

Clarium Capital: Peter Thiel's fund was -5.4% for the year after losing 6.1% in March. You can check out our coverage of Clarium here.

Brevan Howard Flagship fund: -0.53% YTD.

Perry Partners: This fund was up 2.70% for the month of February and found themselves up 6.99% for the year at that time. We previously posted up Perry's annual letter.

Traxis Partners: Barton Biggs' hedge fund was down 1.31% for the year at the end of March.

King Street: Up 1.18% in March and up 2.67% for the year at that time.

York Capital: Up 4.52% for the year after a boost of 3.6% in the month of March.

Capula Investment Management: Up 2.03% for the year at the end of March. They primarily run fixed-income arbitrage strategies and Goldman Sachs took a stake in this firm back in 2008. GLC Diversified Fund: -5.49% through March.

Odey European: They were up 2.52% for March and up 3.08% for the year at that time. We recently posted up Odey's investor letter for those interested.

Man AHL Diversified Fund: Up 5.40% in March and up 2.23% for the year at that time.

Toscafund: Up 0.97% for the year as of the end of March.

That wraps up the recent performance numbers thus far for 2010. Be sure to also check out the list of the world's largest hedge funds as well as our compilation of 2009 performance numbers.

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