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Which Hedge Funds Were Most Profitable In 2011?

The latest issue of Bloomberg Markets magazine has the answer to that burning question but first, let’s take a gander at who had the best performance, among large hedge funds.

1. Tiger Global, YTD total return: 45% (assets, in billions: 6.0)
2. Renaissance Institutional Equities, 33.1% (7.0)
3. Pure Alpha II, 23.5% (53.0)
4. Discus Managed Futures Program, 20.9% (2.5)
5. Providence MBS, 20.6% (1.3)
6. Oculus, 19.0% (7.0)
7. All Weather 12%, 17.8% (4.4)
7. Dymon Asia Macro, 17.8% (1.6)
10. Citadel, 17.7% (11.0)
11. Coatue Management, 16.9% (4.7)
12. Stratus Multi-Strategy Program, 16.6% (3.7)
13. OxAM Quant Fund, 16.4% (2.0)
14. SPM Core, 15.7% (1.0)
15. Pure Alpha I, 14.9% (11.0)
16. Autonomy Global Macro, 13.9% (2.1)
17. BlackRock Fixed Income Global Alpha, 13.8% (2.4)
18. SPM Structured Serving Holding, 13.5% (1.6)
19. GSA Capital International, 13.0% (1.0)
20. JAT Capital, 12.7% (2.5)

And for those who judge themselves by how many bags of hundos they’ve got to strip naked and roll around in:


The World’s 100 Richest Hedge Funds [Bloomberg Markets Magazine]

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93 Responses to “Which Hedge Funds Were Most Profitable In 2011?”

  1. fred says:

    Otherwise known as the list of funds who will be receiving letters from regulatory agencies in the next 3-6 months.

  2. Backdoor_Bess says:

    Third place in profits?!? Looks like we need to raise our fees to 5 / 80%

    Stevie

  3. Kegels123 says:

    I think you guys forgot someone….

    -Whitney Tilson

  4. LPT Chicago says:

    I am not sure about the marks on those equity positions that aren't publicly listed. As the article suggests, that gets a little to PE hybridish.

    Who has some better expertise on this they could share ?

    It's also worth pointing out that while the performance for the year speaks for itself, there is no profit for Citadel, nor has there been for three years now, as they are still below their HWM.

    • in the know on TG says:

      The PE-ish type investments are all social media stocks (hence the up 45% in 2011) and prior to the Linkedin IPO represented less than 10% of the fund. These stocks do trade by appointment on priviate exchanges. Most social media positions were purchased in 2009. The Goldman Sach valuation quote at the end of 2010 didn't hurt either.

      Tiger requested that Clients take money out of the fund @12/31 and depending on the level of redeemptions they may return capital in 2012. Targeting $4B.

    • Mitt Romney says:

      This links to the tiger disclosures in novy.

      Looks very much like a straightforward long tech play, and surprisingly concentrated, so the alpha was presumably form the private social network stakes. But boy I would like to see a clean, "out" on that stuff before paying 20 on it if in the know below is correct..

      Not sure how you windown or redeem that much stock on any secondary market I'm aware of, though I guess many of these are now listed and the specs and mo players are in them every day big looks like from volume.

      http://www.businessinsider.com/the-34-year-old-me

  5. Guest says:

    Did this take into account the HWM on some?

  6. Texashedge says:

    Well now all of a sudden I don't feel so cocky about coming in third in my fantasy league.

  7. Budd Dwyer says:

    I wish I had invested with these guys instead of Tilson.

  8. Witty Whitney says:

    We weren't wrong on being profitable, we were just early and did it before 2011.

  9. C. Gizzle says:

    Chase Coleman molested me in the back of a van in a Walmart parking lot in Sheboygan.

  10. VonSloneker says:

    Honorable Mention: Incarceratus Partners, B. Madoff – +1,200%. Location based arbitrageur of cigarettes, porn and burner phones. AUM $275.35

  11. Guestivus says:

    Good to see Discus got out of the Dealbreaker comments board management business and into the asset management business

  12. Drizzy Drake says:

    I just throw a couple bills and she’ll have a pair a HEELS

  13. guest says:

    I don't see the Sykes Capital Management Penny Stock Opportunities Master Fund on this list.

    WTF?

  14. Crazy Uncle Ray says:

    3 of the top 20 funds, huh? How do you like that, whiny Dartmouth newspaper people? We are HYENAS over here.

    • worthy says:

      You are the man Ray, no question. Loved the new yorker piece, I too got whacked for provoking a fight with the director of the Chicago office in my case. Corpulent little illiterate that he was.

  15. Cut Me says:

    *Beeeeep*

    run DealbrekerReader.exe
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  16. Duncan says:

    Tiger Global, YTD total return: 45% (assets, in billions: 6.0)

    Fund, Manager(s) Management Firm, Location, 2011 total return profit, in millions
    6 Tiger Global, Chase Coleman, Feroz Dewan Tiger Global Management, U.S. 437.2

    What am I missing?
    How is $400 million 45% of 6 billion?

  17. Guest says:

    This list is incorrect. Rebellion Capital isn't listed.

  18. Gundlach says:

    I'm up 50% in dildos.

  19. Guest says:

    Why am I not on the list? I'll sue you.

    – Sarah Bernett

  20. mrpink says:

    Give me a break!

    -Ron Insana

  21. guest says:

    Our Inverse Advantage Plus Fund was up 52%. Tell your friends, please

    J. Paulson

  22. hedge funds says:

    Hedge funds performed terribly last year. I don't think they are "hedged" at all. How are they different from mutual funds (other than charging an arm and a leg for their services)?

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