Hedge Fund Performance Numbers: August 2009 ~ market folly

Monday, September 28, 2009

Hedge Fund Performance Numbers: August 2009

Pardon the tardiness of this post, but we've been so consumed by the influx of current SEC filings that we seemingly never found time to update the August 2009 performances of some prominent hedge fund players. And, seeing as how we'll be posting up the September numbers here in a few weeks time, we figured we should get an update up so we know how everyone stands. Let's get right to it:

Renaissance Technologies: Jim Simons' Rentec has had an interesting year, to say the least. As of the end of August, their RIEF had underperformed the S&P by 26%. Something is definitely off in quant-land this year and we'll see if they can somehow turn around the ship by year end. Earlier on, we posted up a rare lengthy interview with Jim Simons.

Tudor Investment Corp: Paul Tudor Jones' hedge fund was up 0.5% for August and finds themselves up 12.5% for the year as of the end of that month. Also, courtesy of the fine folks over at Dealbreaker, we see a historical spreadsheet of Tudor's returns for their main fund, BVI Global. Recently, Tudor was out saying that they thought this recent market action was nothing more than a bear market rally.

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SAC Capital: Steven Cohen's hedge fund has been doing pretty well themselves after a weak year last year. For August they were up 1.9% and for the year they were up 20.3% as of that timeframe. Again courtesy of Dealbreaker we see a spreadsheet of SAC's historical returns below. We've also got a lot of portfolio updates to cover on SAC, so stay tuned for that tomorrow.

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Glenview: They were up 7.6% for August and are up a whopping 67.6% for fiscal year-to-date 2009 as of the end of that month.

Third Point LLC: Dan Loeb's hedge fund find themselves up 6.4% for August and up 21.5% for the year as of the end of that month in their main fund. Their Ultra fund is performing the best thus far, up 25.5% for the year. For some highly interesting books, make sure you check out our recently added 'Dan Loeb's recommended reading.'

Greenlight Capital: David Einhorn's firm was up 0.8% for August and was up 24.7% year-to-date for the same timeframe. This performance has surely continued into September as their shorts in Moody's (MCO) and McGraw Hill (MHP) have paid off nicely thus far. If you missed it, we detailed Einhorn's rationale behind this short position in 'The Curse of the Triple A.' To hear more of Einhorn's investment ideas, check him (& many more hedge fund managers) out at the Value Investing Congress coming up in October. We secured a discount for readers (use code: N09MF3) and highly recommend checking it out.

That wraps up this quick catch-up edition of hedge fund performance numbers. For more on the subject, check out the best & worst performers of 2009. Additionally, for a more comprehensive look at various funds' performance breakdown reports, check out our June update. And last, but certainly not least, you can sift through Barron's Top 100 hedge funds for 2009.

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