2013 was a fruitful year for hedge fund managers, with LCH Investments NV from London publishing a recent study ranking the top firms’ talent.
According to the report, Lone Pine Capital LLC’s Stephen Mandel performed the best for his hedge fund investors, with the most money earned for the second consecutive year. He earned a total of $5.2 billion for his clientele in 2013.
Mandel was initiated into his hedge fund career at Tiger Management LLC, before founding
Lone Pine Capital himself in the late 1990s. From its inception, the company has made $20.5 billion for his investing partners, with his particular style being “long only” stock choices and a less bearish approach to companies.
Viking Global Investors LP’s O. Andreas Halvorsen, who currently manages the hedge fund, came second on the list, whilst David Tepper of Appaloosa Management LP ranked third highest. Respectively, they made $4.5 billion and $4.2 billion for their clients during the last year.
Halvorsen, like Mandel, also started out at Tiger Management before establishing his own firm Viking Global Investors. Tepper, also a top earning manager for the year of 2012, began his career at the Goldman Sachs Group Inc. as a high-yield credit trader. His firm has done extremely well in the past few years.
The investments that made these successful managers money were those placed on Goodyear Tire & Rubber Company, Priceline.com Inc., and Delta Air Lines Inc., which did incredibly well in the United States’ stock market.
The hedge fund industry itself has suffered a slight decline in the past year, though as a whole it is still worth approximately $2.5 trillion.
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