Atticus Down 12.5% In January

Feb 15 2008 | 8:00am ET

Hedge funds had a rough start to the New Year, as volatile global equity markets put a few big-name funds in the red. Among their unfortunate ranks, FINalternatives has learned, is New York-based Atticus Capital, which dropped 12.5% in January.

Atticus was hurt by its bets on Freeport-McMoRan Copper & Gold and ConocoPhillips.

Copper producer Freeport-McRohan and refiner ConocoPhilips dropped 15% and 20%, respectively, in January. In addition, a source with knowledge of the situation said Atticus was also hurt by its holdings in Sears and Bidu, which provides Chinese language Internet search services.

All told, the losses cost Atticus investors some $3 billion.

Atticus, headed by Timothy Barakett, manages more than $21 billion and runs a concentrated portfolio of some 15 names. The firm’s Atticus Global Advisors Fund gained 25% last year.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

Securities and Exchange Commission Chair Mary Jo White will step down as chair of the nation’s Wall Street overseer in January, setting the stage for a potential conservative shift in the regulator’s leadership under the incoming Donald Trump administration.