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The Morning Brief: Hedge Funds Rack Up More Losses in April

A number of hedge funds extended their losses through the first week or two of April. Through April 11, Robert Citrone’s Discovery Global Macro Fund was down 14.58 percent, William de Winton’s Lansdowne Global Financials Fund was off 10.43 percent and Paul Hudson’s Glade Brook Global Offshore Fund lost 4.20 percent, extending its loss for the year to 5.75 percent. Through April 15, Andrew Law’s Caxton Global Investment is down 3.03 percent for the month and 5.43 percent for the year.

Nelson Peltz’s Trian Partners is down 4.24 percent this month through April 11 and is now down 2.95 percent for the year, while Dan Gold’s QVT lost 3.23 percent for the month through April 15 and is now in the red for the year, down 3.17 percent. Lee Ainslie’s Maverick Fund dropped 4.38 percent in just the first 11 days of April, pushing it into the red by 3.67 percent for the year-to-date.

Not all hedge funds have slumped in the early days of April. King Street Capital gained slightly, boosting its return for the year to 2.74 percent through April 11.

Shares of Sears Holdings got a huge boost Thursday when director Thomas Tisch bought a total of 475,000 shares over a two-day period. The stock surged more than 14 percent Thursday on the disclosure, pushing the shares back up to $38.33. Of course Edward Lampert and his hedge fund, ESL Partners, are the largest shareholders of the embattled retailer.

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