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Report: 4 Hedge Fund Heavyweights Took Home More Than $2 Billion Last Year

By    |   Tuesday, 06 May 2014 03:03 PM

Last year wasn't a particularly strong one for hedge funds, at least compared with stocks. But it worked out quite well for industry titans David Tepper, Steven Cohen, John Paulson and James Simons.

They each earned more than $2 billion, according to Institutional Investor's Alpha magazine. Tepper of Appaloosa Management garnered $3.5 billion.

He was followed by Cohen of SAC Capital Advisors, at $2.4 billion; Paulson of Paulson & Co., at $2.3 billion; and Simons of Renaissance Technologies, at $2.2 billion.

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Appaloosa's two main funds registered gains of approximately 42 percent last year, according to Alpha. Successful investments included airline stocks American Airlines Group, Delta Air Lines and United Continental Holdings.

The funds also profited from holdings in financial and auto-related stocks along with asset-backed securities.

Paulson benefited from investments in telecommunications, healthcare and biotechnology, Alpha reports. The firm scored profits of more than 100 percent from its holdings in T-Mobile US and Leap Wireless International. It also reaped gains when Thermo Fisher Scientific agreed to buy Life Technologies.

Meanwhile, hedge fund assets hit a record high of $2.7 trillion in the first quarter, even though the funds endured their worst first-quarter performance since 2011, Pensions & Investments reports. The HFRI Fund Weighted Composite index returned 1.1 percent in the quarter.

"The mood entering 2014 was buoyant for the hedge-fund industry, following two back-to-back years of double-digit returns," Amy Bensted, head of hedge funds products at research firm Preqin, tells Pensions & Investments.

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Last year wasn't a particularly strong one for hedge funds, at least compared with stocks. But it worked out quite well for industry titans David Tepper, Steven Cohen, John Paulson and James Simons.
hedge, fund, earn, 2 billion
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2014-03-06
Tuesday, 06 May 2014 03:03 PM
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