Balyasny Asset Management is a Chicago-based multi-strategy hedge fund that was launched by Dmitry Balyasny and Scott Schroeder back in 2001. After so many years of existence and prosperity, the fund now offers additional offices in New York, Singapore, London, and Hong Kong. It had around $12.7 billion in assets under management in March 2017. Balyasny Asset Management specializes in macro investing, and its CIO and Managing Partner has been known to say that they “focus on misunderstood situations.”. Before launching Balyasny Asset Management, Dmitry Balyasny was employed at Schonfeld Securities.
Insider Monkey’s flagship strategy identifies the best performing 100 hedge funds at the end of each quarter and invests in their consensus stock picks. This way it is always invested in the best ideas of the best performing hedge funds and is able to generate much higher returns than the market. Since its inception in May 2014, our flagship strategy generated a cumulative return of 103%, beating the S&P 500 ETF (SPY) by nearly 38 percentage points (see the details here). Our best performing hedge funds strategy also returned 26.4% year-to-date and outperformed the S&P 500 Index by nearly 12 percentage points. We take a closer look at hedge funds like Balyasny Asset Management in order to identify their best and worst ideas.
At the end of the first quarter of 2019, Balyasny Asset Management’s very diversified 13F portfolio was valued at $15.04 billion and it counted more than 800 long positions. Among the most valuable Q1 additions were Raymond James Financial, Inc. (NYSE:RJF), Align Technology, Inc. (NASDAQ:ALGN), and Anheuser-Busch InBev SA/NV (NYSE:BUD). As for the stocks that sparked further enthusiasm with the fund boosting its existent stakes during Q1 we have Invesco QQQ Trust (QQQ), McDonald’s Corporation (NYSE:MCD), The Walt Disney Company (NYSE:DIS), and Fidelity National Information Services, Inc. (NYSE:FIS).
When it comes to stocks for which the fund is starting to lose its enthusiasm and cutting its stakes were Visa Inc. (NYSE:V), Willis Towers Watson Public Limited Company (NASDAQ:WLTW), and AutoZone, Inc. (NYSE:AZO). And the top exists in the first quarter of 2019 included: Deere & Company (NYSE:DE), Chubb Limited (NYSE:CB), and Public Service Enterprise Group Incorporated (NYSE:PEG).
This article is originally published at Insider Monkey.