Hedge Funds Lose Big After United States Steel Corp Dropped 7.62%

United States Steel Corporation (X) dropped $7.62% at 3:28PM EST on Monday following other steel stocks. The entire industry is under pressure today after Schnitzer Steel Industries (SCHN) disclosed a disappointing first quarter guidance. Now X is trading at $23.90, down 7.62% or $1.97 from its close on Friday.

Here is a list of hedge funds that may reveal large losses due to the price decline.

1. David E. Shaw – D. E. Shaw: lost $1.68 million

2. Aletheia Research and Management – Peter J. Eichler Jr.: lost $473 thousand

3. Astenbeck Capital Management – Andrew Hall: lost $448 thousand

4. Blue Mountain Capital – Andrew Feldstein and Stephen Siderow: lost $446 thousand

5. Carlson Capital – Clint Carlson: lost $415 thousand

6. Adage Capital Management – Phill Gross and Robert Atchinson: lost $184 thousand

7. Citadel Investment Group – Ken Griffin: lost $175 thousand

8. Magnetar Capital – Alec Litowitz and Ross Laser: lost $109 thousand

9. Visium Asset Management – Jacob Gottlieb: lost $98 thousand

10. Millennium Management – Israel Englander: lost $66 thousand

DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in X since the end of September. We did not take into account their option positions.