Cyrus Capital’s Big Airline Bet Goes South

Stephen Freidheim’s fund had nearly a third of its U.S. public equities book in Delta and American Airlines at yearend.

Andrew Harrer/Bloomberg

Andrew Harrer/Bloomberg

Warren Buffett, who told investors he had sold his entire stakes in the airline sector during the first quarter, is not the only big investor who got burned by the airlines’ coronavirus crash.

Another appears to be hedge fund Cyrus Capital Partners’s Stephen Freidheim.

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