Just a quick rundown of how some of the bigger funds did in that brutal August.
First, let’s remember that the S&P 500 was down more than 6% in August.
Bill Ackman’s Pershing Square down 9.2 percent
Marcato Capital down 9.1 percent
Larry Robbins’ Glenview Capital down 5.5 percent
David Einhorn’s Greenlight Capital down 5.3 percent
Dan Loeb’s Third Point down 5.2 percent
Nelson Peltz’s Trian Partners down 4.8 percent
Barry Rosenstein’s JANA Partners down 4.3 percent
John Paulson’s Paulson Partners down 4.2 percent
David Tepper’s Appaloosa Management down 1.8 percent
Of note - the HFRI Fund Weighted Composite Index experienced its biggest drop since May 2012, falling 1.9 percent for the month.
The HFRI Equity Hedge Index experienced a decline of 2.6 percent. Short bias funds led sub-strategy performance, gaining 5%, while high beta growth strategies brought up the rear after falling 4.1%.
Event-driven strategies fell by 1.7%. Shareholder activist funds were the weakest area of event-driven performance, with the sub-index declining by 3.5%.