Hedge Funds Greenlight Third Point and others Lost Money in June.
Hedge fund titans might be crying at their Hamptons barbecues this Fourth of July, after the drubbing most of them took in June.
David Einhorn’s Greenlight Capital looks like the No. 1 loser among the bigger funds, down 4.3 percent for the month, pushing it into the red, down 3 percent for 2015.
Einhorn’s investment in Greek banks didn’t help, but US stock losses drove the damages, said investors.
Barry Rosenstein’s Jana Partners lost 1 percent in June — and is only up 1.7 percent in 2015. He’s the second-largest investor in ATM-maker NCR, whose plans to go private hit a speed bump last month.
Most hedgies are still outdoing the broader markets, with the S&P 500 down 1.6 percent in June and up less than 1 percent this year.
In addition: Bill Ackman’s Pershing Square was down 0.5 percent for the month through June 23. Dan Loeb’s Third Point lost 0.8 percent. Richard Perry’s Perry Capital had fallen 1 percent as of June 19.
And Jeff Altman’s Owl Creek was off 1.6 percent.