Activists Gain, Lose In February

Mar 5 2013 | 11:18am ET

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%.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...