Pershing Square Tops List Of 10 Best Large HFs

Jan 7 2015 | 2:11pm ET

The Top 10 performing large hedge funds ($1 billion or more) of 2014 cover a variety of strategies and geographies but there's one thing they have in common: double-digit performance.

Where the HFRI Fund Weighted Composite index was up 3.7% (as of November), the worst performer in this list gained 17% in the 10 months to October 2014.

Here, as ranked by Bloomberg, are 2014's Top 10 large hedge funds:

1. Pershing Square International

Manager: Bill Ackman
Management Firm, Location: Pershing Square Capital Mgmt, U.S.
Strategy: Activist
Assets: $6.1 billion
2014 returns: 32.8%
2013 returns: 9.3%

He may not be universally beloved, but his investors are probably pretty fond of Bill Ackman right now. The activist manager had some serious wins in 2014, including Canadian Pacific, shares of which rose 27%, and, of course, Botox-maker Allergan, which gained a breathtaking 90% in 2014 and earned the Ackman a $2.6 billion profit. Even his controversial Herbalife short seems to be turning around—the firm Ackman insists is a pyramid scheme lost over 50% of its value in 2014 and is under investigation by both the Federal Trade Commission and the Securities and Exchange Commission.

Random Fact: Ackman once hugged Carl Icahn in public.

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