2014 is not yet over but with the market closed we are getting our first news on hedge fund results for the year. We will follow up with more details (so stay tuned) – but ValueWalk has obtained investment returns for Dan Loeb’s Third Point and David Einhorn’s Greenlight Capital. Before we start with the numbers, see the chart below that has some almost complete 2014 returns from a copy of hedge weekly dated December 19th.
ISAM looks like it will take the crown and Pershing will be near the top. We will have more numbers on Ackman’s hedge fund very soon – we also wanted to note that we have numbers through December 30th and the hedge fund has returned 40.9% YTD. What drove those returns (again more info soon) but this screenshot is from the Nov stat sheet.
Third Point's Dan Loeb discusses their new positions in a letter to investor reviewed by ValueWalk. Stay tuned for more coverage. Loeb notes some new purchases as follows: Third Point’s investment in Grab is an excellent example of our ability to “lifecycle invest” by being a thought and financial partner from growth capital stages to Read More
UPDATE 1/1/15 10:48AM EST: Jana Partners was up 0.3% in December for a 2014 net return of 3.7%, according to a letter to investors seen by ValueWalk.
For Loeb we do not have much data on holdings but Third Point returned negative -1.2% in December and 5.8% YTD ( you can view his stat sheet below). Einhorn we have the most info about (although Q4 should provide a lot more) – but here we go
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Net Monthly Returns:
December 2014: (2.2)%
Net Quarterly Returns:
|Full Year|| 8.8(1)
As of 31-December-2014, the largest disclosed long positions in Greenlight’s investment portfolio are Apple, Consol Energy, gold, Marvell Technology, Micron Technology and SunEdison; our investment portfolio is approximately 106% long and 67% short.
Einhorn had a tough year – the latest being his holding in CVEO down about 50% in the past few days (JANA Partners just dumped their stake in the company). Einhorn also took some hits from his GMCR short, CONN long, Greek bank warrants etc. But despite the bumps the hedge fund was almost up nearly 9% – how? Many of the top holdings did fantastic –