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Hedge Fund Returns Through June 2011

Hedge funds aren’t performing very well this year because of their hedges. We calculated the returns for hedge funds’ 13F holdings in S&P 500 constituents in the following articles: 10 Best Performing Star Hedge Fund Managers, 10 Worst Performing Star Hedge Fund Managers, and 25 Best Hedge Funds of Q2 2011 . These returns represent the long side of the hedge funds’ portfolios. Since the market was up this year, these stocks performed better than the hedge funds themselves.

largest hedge funds in the world

We also compiled hedge funds’ returns for the first half of 2011. Here are the returns:

1. John Paulson – Paulson & Co: John Paulson’s flagship fund lost around 15% through the end of June. However, Paulson invests most of his wealth in gold denominated versions of his fund, so his personal loss is less than 15%. Paulson’s long positions in S&P 500 constituents lost only 6% during the second quarter.

2. Chris Hohn – Children’s Investment Fund: Hohn gained around 15% through mid June. You can check out his top stock picks by following the link.

3. David Einhorn – Greenlight Capital: Greenlight lost around 5% through the end of June (See how his large-cap stock picks beat Einhorn’s actual returns)

4. Chase Coleman – Tiger Global: Chase Coleman returned more than 15% so far in 2011. Unfortunately it is very difficult to imitate his returns. He made more than a billion dollars in Facebook and he also bought LinkedIn privately last year. Nevertheless imitating his large-cap stock picks would have returned 5.5% during the second quarter.

5. Louis Bacon – Moore Capital: Moore lost around 5% through mid June.

6. Ray Dalio – Bridgewater Associates: Dalio’s flagship fund returned around 11% through mid June.

7. Paul Tudor Jones – Tudor Investment Corp: Tudor’s Momentum fund is down 1.7% and Tudor Tensor is down 5.2% through May.

8. Rehan Jaffer – H Partners: Jaffer returned around 22% through mid June. You can check out his top stock picks by following the link provided.

9. Bill Ackman – Pershing Square: Bill Ackman lost 2.3% through mid May.

10. Jim Simons – Medallion: Simons’ Medallion fund gained around 15% through mid May. We calculated Medallion’s alpha to be around 34% which is by far the highest number we have ever seen.

11. Dan Loeb – Third Point: Third Point’s flagship fund gained 6.3% through June. His Offshore fund is up 6.8%.

12. Steve Cohen – SAC Capital: Steve Cohen’s flagship fund is up 9% through the end of May.

13. Boaz Weinstein – Saba Capital: Reuters reports that Saba Capital is up around 3.5% so far this year.

14. Ping Jiang – Ping Capital: Ex-SAC Capital trader returned 7.6% through the end of May.

15. Ken Griffin – Citadel: Ken Griffin returned about 11% through June.

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