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2014 Brought Pain and Gain for Hedge Funds

Hedge Funds

There was pain and gain, as usual, in the hedge fund sector, with Larry Robbins, Bill Ackman and Dan Loeb cleaning up, but with lackluster returns for Leon Cooperman and John Paulson. Larry Robbins saw a 12% gain for Glenview Capital, with a $600 million return. Bill Ackman’s avid activism paid off, and he pulled in $1 billion this year, a 35% gain over 2013, according to CNBC. Dan Loeb’s Third Point raked in $230 million.

It was a disappointing year for master stock picker Leon Cooperman, whose fund was up only 0.8%. However, he’s philosophical about it, and told CNBC, “Having done this for 46 years, I can tell you it’s a marathon, and not a sprint. Or as the Brooklyn Dodgers used to say, ‘Wait until next year!”

Larry Robbins is taking a liking to retail, and has loaded up on PVH, owner of the Calvin Klein and Tommy Hilfiger brands. Glenview owns 4.5 million shares and it comprises 2.9% of its portfolio. He also owns Carter and Fossil, and according to Valuewalk, it might be because these two have a similar business model to PVH; they mainly make their sales through wholesale and third parties rather than having their own stores.

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