DE Shaw remains king; Renaissance and Icahn record double digit declines

December 1st, 2014
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DE Shaw maintains the top spot for another quarter in the latest edition of HedgeTracker’s Top U.S. Equity Hedge Fund List. DE Shaw’s growth of $486M, or 1%, over the quarter was just sufficient to fend off a surging Citadel Investment Group, which added greater than $2B in the third quarter, an increase of almost 5%, to once again secure the second position on the list.

Perhaps the biggest surprises of the quarter were the lower assets reported by two of the top 10 hedge funds – Renaissance and Icahn. Renaissance Technologies Corporation fell one spot on the list to #4 after dropping more than $6B in assets, a decline of almost 15%. Renaissance held the top spot on the list as recently as Q3 2013 but has been steadily falling ever since. Icahn Associates dropped 3 positions this quarter, landing at number 7 on the list. Icahn closed the third quarter at $33.6B, a decline of almost $5B, or 12.7%.

Despite the large asset losses in the top 10, the Top 100 US Equity Hedge Funds were slightly up over the quarter and now manage $989B in assets. This represents an increase of nearly 1.5% and is driven, in part, by 10 funds that were up more than 15% over the quarter.

Strong performers of note include Och-Ziff, Eton Park, and Balyasny. Och-Ziff Capital Management gained more than $3B in assets over the quarter, an increase of more than 18%, but only managed to move up one spot on the list to 12. Eton Park Capital Management, a NY-based hedge fund founded in 2004 by Goldman Sachs alum Eric Mindich, surged more than 37% over the quarter to $3.6B in assets – enough to jump 20 positions to the 70th spot. Balyasny Asset Management recorded the second largest increase of the quarter, jumping 35.6% to break into the top 50 and ultimately land at 35.

The Top 100 U.S. Equity Hedge Fund list was not without turnover during the quarter as 5 new hedge funds made it onto the list. The biggest jump for a new entrant belongs to BlueMountain Capital Management, which landed at number 87 with just over $3.5 billion in equity assets. BlueMountain is a long/short credit fund that was founded in 2003 by CEO/CIO Andrew Feldstein and President Stephen Siderow. Prior to founding the firm, Mr. Feldstein was Co-Head of North American structured products at JP Morgan, while Mr. Siderow was a senior consultant at McKinsey & Company in the financial services practice.

HedgeTracker releases a series of top hedge fund lists on a quarterly basis. To view the Top Hedge Fund lists in their entirety, please visit our premium Hedge Fund Ranking Portal.
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For Detailed Investor Profiles on these Investors, click below:
Balyasny Asset Management
BlueMountain Capital Management
Citadel Investment Group
D.E. Shaw & Co
Eton Park Capital Management
Icahn Associates (Carl Icahn)
Och-Ziff Capital Management
Renaissance Technologies Corporation
Related People: ; Becket Wolf*; Peter Brown; Robert L. Mercer; Aaron Wertentheil; Alain Demarolle*; Alan Batkin*; Alan Gerstein; Alexander J. Denner; Andrew Feldstein; Anne Dinning; Barry Colvin; Brandon Haley; Brett Icahn; Bryce Markus; Carl Icahn; Daniel Och; David E. Shaw; David Grossman; David Windreich; Derek Kaufman; Derek Smith; Dirk Donath; Dmitry Balyasny; Eric Mindich; Eric Wepsic; Harold Kelly; Jeff Kushner; Jeff Runnfeldt*; Jim Simons; Joe Squeri; Julius Gaudio; Kaveh Alamouti*; Keith A. Meister*; Kenneth Griffin; Louis Salkind; Mark Stainton; Max Stone; Michael Cohen*; Ralph F. Rosenberg*; Ryan Garino; Scott Lessing; Scott Schroeder; Stephen Siderow; Steve Weller*; Stuart Steckler(retired)*; Taylor O'Malley; Zoltan Varga
Related Entities: Balyasny Atlas Global; Balyasny Europe Asset Management; Balyasny Phoenix Plus Funds ; BlueCorr; BlueCrest Capital; BlueHorizon; BlueMountain CLO; BlueMountain Correlation Relative; BlueMountain Defensive Credit; BlueMountain Equity Alternatives; BlueMountain Strategic Credit; BlueMountain Timberline; Visium Asset Management*; Balyasny Asset Management LP; BlueMountain Credit Alternatives Fund; Citadel Alternative Asset Management; Citadel Equity Fund; Citadel Kensington; Citadel Wellington; D. E. Shaw Oculus Portfolios, LLC; D. E. Shaw Valence Portfolios; D.E. Shaw Group; D.E. Shaw Investment Management; DE Shaw Heliant Fund; Equiduct; Eton Park Associates LP; Eton Park Emerging Markets Fund LP; Eton Park Fund LP; Eton Park Master Fund, Ltd; Eton Park Overseas Fund Ltd; Goldman Sachs Principal Strategies*; High River Limited Partnership; Icahn Partners; Icahn & Co Inc; Icahn Associates; Icahn Enterprises (formerly American Real Estate Partners); Icahn Fund Ltd; Icahn Partners LP; Medallion; New Castle Re; Nova; Och-Ziff Capital Structure Arbitrage; OZ Credit Opportunities; OZ Master Fund; R6 Investors*; Renaissance Institutional Equities Funds; Renaissance Institutional Management LLC; Renaissance Technologies LLC; Rentec; Sowood Capital*; Ziff Brothers
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Featured Reports

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