Two prominent activist hedge funds went in opposite directions last month—albeit not particularly far in those opposite directions.
Greenlight Capital, in the news recently for its successful legal battle with Apple Inc., rose 0.3% last month. By contrast, Pershing Square Capital Management, whose founder, William Ackman, has spent the last few months engaged in a war of words with Carl Icahn and nutritional supplements company Herbalife, fell slightly, dropping 0.1% in February.
The funds have posted similar returns this year, with Greenlight up 3.7% and Pershing Square 3.6%.
Two other activists saw somewhat bigger moves in February. Third Point added 1.3% on the month and is up 6.1% on the year, Reuters reports, while Jana Partners fell 0.5% to cut its year-to-date gain to 4.6%.