Top Small- and Mid-Cap Hedge Funds Manage $255 Billion, Millennium Management tops the list

February 17th, 2014
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The Top 100 Small-Cap and Mid-Cap focused hedge funds oversee $255 billion in U.S. equity assets, according to the most recent rankings. The Top 100 SMID Hedge Fund list is led by a number of the largest U.S. hedge funds overall, demonstrating how important smaller and lesser known companies can be for generating consistent alpha. This quarter’s list is led by Millennium Management, which allocated $11.8 billion, or almost 54% of its equity assets, to SMID companies. Millennium jumped two spots over the quarter to take the top spot from Renaissance Technologies Corporation.

Paulson & Co jumped onto this quarter’s list and grabbed the second spot. Paulson dedicated $7.8 billion to SMID stocks, which represents 50.1% of its equity assets – just above the 50% threshold required to be eligible for the top 100 SMID Hedge Fund List.

Fortress Investment Group, the New York-based hedge fund founded by BlackRock veterans Wesley Edens, Robert Kauffman and Randal Nardone, secured the fourth spot by investing more than 90% of their equity assets in SMID stocks. Fortress held the 8th spot in the previous quarter after investing 86% of its assets in Small- and Mid-Cap companies.

Notably, nineteen hedge funds on the Top 100 SMID Hedge Fund list have more than 90% of their assets invested in SMID equities. Harbinger Capital Partners LLC and Marcato Capital Management are among the group of purest small- and mid-cap focused funds on the list, as both allocated 100% of their equity assets to SMID stocks. Deep value focused Harbinger Capital reported $2.9 billion in SMID assets and value focused Marcato Capital reported $1.6 billion in SMID assets.

Ranking Methodology: The Top 100 SMID Hedge Fund rankings are compiled on a quarterly basis using hedge fund firms’ overall U.S. equity assets under management. The SMID list includes the top hedge funds with that have more than 50% of their U.S. equity assets invested in small- and mid-cap companies. Mid-Cap equities include U.S. listed stocks with market capitalizations between $2 billion and $10 billion, while Small-Cap equities include U.S. listed stocks with market capitalizations less than $2 billion. To view the Top 100 SMID Hedge Fund list in its entirety, please visit the Hedge Fund Portal.
For Detailed Investor Profiles on these Investors, click below:
Fortress Investment Group
HRG Group (Harbinger Capital Partners)
Millennium Management
Paulson & Co.
Related People: Andrew Hoine; Daniel Mudd*; David Nolan; Israel Izzy Englander; John Paulson; Jonathan Larkin*;; Jude Driscoll; Mena Gerowin*; Michael E. Novogratz; Michael Gelband; Mike Barr; Omar Asali (CEO); Peter Jenson (COO); Philip Falcone*; Randal Nardone; Robert Kauffman*; Sheru Chowdhry; Stuart Merzer; Wesley Edens; William F. Callanan*
Related Entities: Drawbridge Global Macro Funds; Fortress Commodities Fund LP; Fortress Partners Funds; Fortress Value Recovery Funds ; Harbert Management Corporation*; Harbinger Capital Credit Distressed BlueLine Fund; Harbinger Capital Partners Master Fund; Harbinger Capital Partners Special Situations Fund LP; HRG Capital; Logan Circle Partners; Millennium International Fund; Millennium Management LLC; Millennium Partners; Millennium Partners LP; Millennium U.S.A.; Newcastle Investment Corp; Paulson Advantage Master Ltd; Paulson Advantage Plus Master Ltd; Paulson Real Estate Recovery Fund; Paulson Recovery Fund; PCI
Related Article Tags: Investment Management, Fund Manager and General Financial News


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