Top 10 Hedge Funds lose $31.8 Billion, John Paulson’s Fund Leads the Losers

December 12th, 2011
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The Top 10 Hedge Funds saw their US Equity assets drop by an astounding $31.8 Billion, or -16.8%, during the third quarter of 2011. The precipitous drop was led by John Paulson’s hedge fund management firm, Paulson & Co, which saw its US equity assets fall by $8.5 billion. John Paulson’s firm had already had a rough year and the poor third quarter numbers were enough to drop the hedge fund from its perch as the largest US equity hedge fund manager, a position it had securely held throughout 2011. Paulson & Co. fell down to #3 on the list, reporting $20.5 in assets.

Despite losing $2.1 billion in equity assets over the quarter, Jim Simons’ Quant focused Renaissance Technologies Corporation became the largest hedge fund on list. New York-based Renaissance secured the top spot with $23.4 in equity assets under management.

Overall, every hedge fund in the top 10 saws its asset base drop over the quarter. Carl Icahn’s hedge fund lost the least, as the renowned shareholder activist’s Icahn Associate managed to only lose $42 million. Meanwhile, all of the other top hedge funds lost at least $1 billion over the quarter. Icahn’s performance propelled his fund to #8 on the top hedge fund list, up from #12 position Icahn held on Q2 2011 top hedge fund list.

Like Icahn, Eddie Lampert’s ESL Investments also jumped 4 spots in the rankings. ESL’s $9.1 billion was enough to give the value focused hedge fund the 10th spot on the top hedge fund list.

The #2 spot on the list was claimed by Boston-based Adage Capital Partners, while Clifford Asness’ AQR Capital Management LLC and David E. Shaw’s D.E. Shaw & Co ranked #4 and #5, respectively.

HedgeTracker releases its top hedge fund lists on a quarterly basis. To view the Top 10 and Top 100 Hedge Fund lists in their entirety, please visit our Top Hedge Fund Center.
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For Detailed Investor Profiles on these Investors, click below:
Adage Capital Partners
AQR Capital Management LLC
D.E. Shaw & Co
ESL Investments
Icahn Associates (Carl Icahn)
Paulson & Co.
Renaissance Technologies Corporation
Related People: Peter Brown; Robert L. Mercer; Alexander J. Denner; Andrew Hoine; Anne Dinning; Brett Icahn; Carl Icahn; Clifford Asness, Ph.D.; David E. Shaw; David G. Kabiller; Eddie Lampert; Eric Wepsic; Jim Simons; John M. Liew; John Paulson; Julius Gaudio; Keith A. Meister*; Louis Salkind; Max Stone; Mena Gerowin*; Mike Barr; Phil Gross; Richard Rainwater*; Robert Atchinson; Robert J. Krail; Sheru Chowdhry; Stuart Merzer; Stuart Steckler(retired)*; William C. Crowley
Related Entities: Adage Capital Advisors LLC; Adage Capital Partners LP; AQR Absolute Return Master; AQR Delta Master Account; AQR Global Asset Allocation; AQR Global Equity Master; AQR Global Stock Selection; AQR International Equity Fund; AQR RC Equity International; AQR Small Cap Value Fund LP; D. E. Shaw Oculus Portfolios, LLC; D. E. Shaw Valence Portfolios; D.E. Shaw Group; D.E. Shaw Investment Management; DE Shaw Heliant Fund; ESL Institutional Partners; ESL Investments Inc; Harvard Management; High River Limited Partnership; Icahn Partners; Icahn & Co Inc; Icahn Associates; Icahn Enterprises (formerly American Real Estate Partners); Icahn Fund Ltd; Icahn Partners LP; Kmart Holding Corp*; Medallion; Nova; Paulson Advantage Master Ltd; Paulson Advantage Plus Master Ltd; Paulson Real Estate Recovery Fund; Paulson Recovery Fund; PCI; RBS Partners; Renaissance Institutional Equities Funds; Renaissance Institutional Management LLC; Renaissance Technologies LLC; Rentec; Sears Holdings (NASDAQ: SHLD)
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Featured Reports

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