Hedge Funds Gain Big After $AVP Rises

Avon Products Inc. (AVP) soars after the company announces it will separate the roles of chairman and CEO in 2012. Andrea Jung, who currently holds both posts, will serve as executive chairman while the distributor of beauty products will search for a new CEO. AVP closed on Tuesday at $16.14, and is trading at $17.50 at 10:40AM EST on Wednesday, representing an 8.43% or $1.36 increase.

Here is a list of the top 10 hedge funds hedge funds that may reveal large gains:

1. Renaissance Technologies – Jim Simons: gains $961 thousand

2. Bridgewater Associates – Ray Dalio: gains $918 thousand

3. Adage Capital Management – Phill Gross and Robert Atchinson: gains $834 thousand

4. Highbridge Capital Management – Glenn Russell Dubin: gains $626 thousand

5. AQR Capital Management – Cliff Asness: gains $339 thousand

6. Millennium Management – Israel Englander: gains $282 thousand

7. David E. Shaw – D. E. Shaw: gains $249 thousand

8. Caxton Associates – Bruce Kovner: gains $217 thousand

9. Citadel Investment Group – Ken Griffin: gains $150 thousand

10. SAC Capital Advisors – Steven Cohen: gains $61 thousand

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