Pershing Square, Led by Bill Ackman, Resurfaces in Top 20 Global Hedge Funds
Pershing Square, Led by Bill...
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Pershing Square, Led by Bill Ackman, Resurfaces in Top 20 Global Hedge Funds

22 January 2024
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2 min.
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Pershing Square, Led by Bill Ackman, Resurfaces in Top 20 Global Hedge Funds

Pershing Square's Triumphant Return

Pershing Square Capital Management, under the leadership of Bill Ackman, has made a remarkable return to the top ranks of the world’s best-performing hedge funds.

After a brief hiatus from the list in 2015, the firm has not only reclaimed its position but also outperformed its competitors. With $17.9 billion in assets under management (AUM), the New York-based firm generated net gains of $3.5 billion in 2023, reaching a total of $18.8 billion in gains since its inception in 2004.

The resurgence of Pershing Square has been nothing short of extraordinary, securing a place on LCH’s list of the world’s 20 top-performing hedge funds. The fund’s impressive returns of $12.3 billion over the past three years constitute almost two-thirds of its cumulative gains.

Pershing Square’s achievements reflect a broader trend among the top 20 hedge funds, which collectively generated net gains totaling $67 billion in 2023. These top funds manage just 18.9% of the total assets across the sector.

Hedge fund AUM $bn 2023 gains $bn Overall gains $bn Year started
Citadel 56.8 8.1 74.0 1990
D.E. Shaw 43.8 4.2 56.1 1988
Millennium 61.9 5.7 56.1 1989
Bridgewater 72.5 (2.6) 55.8 1975
Elliott 62.2 5.5 47.6 1977
Soros N/A N/A 43.9 1973
TCI 50.0 12.9 41.3 2004
Viking 30.5 6.0 40.9 1999
Baupost 27.4 3.8 37.0 1983
Farallon 40..4 2.6 35.7 1987
Lone Pine 15.9 4.2 35.6 1996
Appaloosa 17 2.7 35.0 1993
SAC/Point 72 31.0 3.0 33.0 1992
Och Ziff/Sculptor 28.7 2.3 32.2 1994
Brevan Howard 35.6 0.4 28.5 2003
Egerton 14 2.3 23.9 1995
Davidson Kempner 37 1.8 21.0 1983
King Street 9.5 0.9 19.5 1995
Caxton 13.4 (0.3) 19.5 1983
Pershing Square 17.9 3.5 18.8 2004

 

The top 20 funds have accounted for 83% of all hedge fund gains over the past three years. They have amassed net gains worth $775.4 billion, overshadowing the $862 billion gains made by all other hedge funds in the sector.

TCI Fund, led by Sir Chris Hohn, was the top performer in 2023, recording net gains of $12.9 billion. Citadel LLC, led by Ken Griffin, has set a benchmark, achieving net gains of $74 billion since its inception in 1990. Despite a $2.6 billion loss in 2023, Ray Dalio’s Bridgewater Associates has generated an impressive $55.8 billion since its inception in 1975.

In conclusion, the hedge fund landscape in 2023 witnessed Pershing Square’s resurgence alongside other formidable players. Their ability to consistently outperform and attract top talent underscores a paradigm shift in the dynamics of the hedge fund sector.

Persons4 and Companies4 in the news

Founder of the Bridgewater Associates
1 place
Founder of The Children's Investment Fund Management
2 place
Chief Executive Officer of Pershing Square Tontine Holdings
3 place
Chief Executive Officer
4 place
Citadel LLC
4 place
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