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Hedge Funds Lose Big on AK Steel $AKS 3rd Qtr Report

After AK Steel (AKS) reported losses of $3.5 million, or 3 cents a share, its share price plummeted from $8.65 at close yesterday to trade at $7.56 at 10am EST this morning, a loss of 12.60%. According to MarketWatch, AKS was expected to lose 1 cent a share. The company is “not providing a fourth-quarter outlook at this time because of ‘continued uncertainty and volatility with respect to economic conditions in the U.S. and in other markets’ but… plans to do so later in the quarter.”

SAC CAPITAL ADVISORS

The following hedge funds lost the most:

1. Sac Capital Advisors – Steven Cohen: Lost $3.1 million

2. Samlyn Capital – Robert Pohly: Lost $2.7 million

3. Carlson Capital – Clint Carlson: Lost $1.9 million

4. Vinik Asset Management – Jeffrey Vinik: Lost $1.7 million

5. Citadel Investment Group – Ken Griffin: Lost $1.7 million

6. Alyeska Investment Group – Anand Parekh: Lost $1.1 million

7. Aqr Capital Management – Cliff Asness: Lost $612,000

8. Davidson Kempner – Thomas Lenox Kempner: Lost $545,000

9. Lagrange Capital – Frank Lagrange Johnson: Lost $437,000

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

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