These Were The Ten Best Performing Hedge Funds In Q1

After a strong performance in the second half of last year, the hedge funds industry continued the resurgence in Q1 2021. In fact, Q1 2021 was the strongest first quarter in more than 20 years.  Moreover, the momentum carried over in Q2 as well. The Hedge Fund Confidence Index, which shows industry optimism, continued to rise in Q2. Healthy returns along with a brighter economic outlook is a major reason for the industry optimism. Let’s take a look at the top ten best performing hedge funds on the basis of their Q1 return.

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Ten Best Performing Hedge Funds In Q1

We have used the quarterly return data (from Insider Monkey) to rank the ten best performing hedge funds in Q1. Following are the ten best performing hedge funds in Q1:

10. Greenspring Associates (57.7%)

Founded in 2000, it is a global investment firm that offers commingled funds and customized partnership capabilities to institutions and individuals in several countries. C. Ashton Newhall and James Lim are the fund managers at Greenspring Associates, and the company is headquartered in Owings Mills, Md. The top four holdings of the fund are: Ngm Biopharmaceuticals, Roblox Corp, Oblong and Phathom Pharmaceuticals.

9. Tontine Asset Management (59.5%)

Founded in 2009, it is an investment advisory firm that offers portfolio management services to individuals, corporations, foundations, and other entities. Jeffrey Gendell is the fund manager at Tontine Asset Management, and the company is headquartered in Greenwich, Conn. The top four holdings of the fund are: Ies Holdings, Cleveland-Cliffs, Ishares Trust and Citigroup.

8. Plaisance Capital (59.9%)

Founded in 2008, it is a contrarian value investment firm. As per the company, it uses a “Long/Short portfolio model to exploit equity mispricing.” Dan Kozlowski is the fund manager at Plaisance Capital and the company is headquartered in Denver. The top four holdings of the fund are: Pure Cycle, Noodles & Co, Skechers USA and Enterprise Products Partners.

7. Leonard Green & Partners (60.1%)

Founded in 1989, it is a private equity firm. This firm partners with experienced management teams and at times with founders to make investment in companies. Leonard Green is the fund manager at Leonard Green & Partners and it is headquartered in Los Angeles. The top four holdings of the fund are: Clarivate Plc, Wesco International, Sector Spdr Trust and Joann.

6. Tao Capital (60.1%)

Founded in 2002, this company invests in the healthcare, technology, education, transportation and food businesses that have a sustainable positive impact. It can support companies through various stages of their life-cycle. Nicholas J. Pritzker is the fund manager at Tao Capital. The top four holdings of the fund are: Twist Bioscience, Ouster, Uber Technologies, and Tesla.

5. Proxima Capital Management (66.9%)

Founded in 2004, it is an investment manager that focuses on U.S. and European special situation equities. Proxima Capital can be referred to as a long/short investment manager. Youlia Miteva is the fund manager at Proxima Capital Management. The top four holdings of the fund are: Trinseo S.A., Capri Holdings, Olin Corp and Marathon Petroleum.

4. Fourthstone (67.3%)

Founded in 2013, it is an investment advisory firm that offers investment and fund management services to families and institutions. Fourthstone mainly invests in banks, thrifts and other financial securities. Phil Stone is the fund manager at Fourthstone. The top four holdings of the fund are: Community Financial, Shore Bancshares, Blue Ridge Bankshares, and Codorus Valley Bancorp.

3. Tang Capital Management (68.9%)

Founded in 2012, this investment firm focuses on life sciences companies, and has a successful track record of creating and developing successful biopharmaceutical companies. The firm has its headquarters in San Diego and an office in New York as well. Kevin C. Tang is the fund manager at Tang Capital Management. The top four holdings of the fund are: Rocket Pharmaceuticals, Anaptysbio, Aptevo Therapeutics, and Odonate Therapeutics.

2. Thrive Capital (73.5%)

Founded in 2009, it is a venture capital investment firm that primarily invests in software and technology-enabled companies. Joshua Kushner is the fund manager at Thrive Capital. It was one of the three firms to invest in Instagram's $50 million Series B round. The top four holdings of the fund are: Oscar Health, Affirm Holdings, Hims & Hers Health, and Opendoor Technologies.

1. Fairholme (91.5%)

Founded in 1999, this fund aims for the long-term growth of capital. To achieve its objective, the fund invests in 25 stocks irrespective of the market cap. Fairholme invests at least 75% of its total assets in U.S. common stocks. Bruce R. Berkowitz is the fund manager at Fairholme. The top four holdings of the fund are: St Joe Co., Berkshire Hathaway, Enbridge and At&t.