Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

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.”


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.