Seeking Alpha - A report making the rounds today detailed managers’ Form 13-F filings. This report shows what managers own. Their holdings of U.S. stocks by and large plummeted. The decline in the size of the positions could be from market share losses or the sale of a position, or most likely, both.
Atticus Capital reduced […]

Seeking Alpha - It’s a tough world out there - I saw in the Wall Street Journal the average hedge fund lost 18% in October. Considering what their mandate is i.e. hedge - that is amazing. September was awful as well. We see stories of hedge funds that are performing well (in this market losing […]

Economic Times - A former Intel Corp engineer has been charged with stealing trade secrets worth $1 billion from the chip maker while he worked for Advanced Micro Devices Inc.
Federal prosecutors in Massachusetts alleged this week in a five-count indictment that Biswamohan Pani, 33, illegally downloaded more than a dozen confidential documents […]

New York (HedgeCo.Net) - Following in the footsteps of other large hedge funds trying to weather the credit crunch, Blue Mountain Capital Management has suspended withdraws on its $3.1 billion fund. 
The Blue Mountain Credit Alternatives Fund lost a little over 2 percent in October, while posting admirable returns the rest of the year.   The […]

CNBC - A Goldman Sachs hedge fund that launched in January with over $6 billion under management lost close to $1 billion by September, according to the Financial Times.
The fund, known as Goldman Sachs Investment Partners, has told investors it lost $989 million by September, the newspaper said on Monday.

Most of the fund’s losses stemmed […]

Reuters - Blue Mountain Capital Management LLC has temporarily halted redemptions at its largest hedge fund after clients asked to withdraw money despite its "distinguished" performance, according to a letter to its investors.
New York and London-based Blue Mountain said in the letter it had come up with a "redemption and recapitalization plan" to protect all […]

Bloomberg - It used to be that we searched for economic icebergs in Asia. Now we are on the lookout for Icelands.
Last week, Iceland became the first developed economy to seek aid from the International Monetary Fund since 1976. It needed a $2.1 billion bailout after investors realized it wasn’t running an economy, but a […]

New York (HedgeCo.Net) - Citadel Investment Group announced yesterday it will shut down its $1 billion fund of hedge funds portfolio and use the capital to invest in other businesses.
The Fusion fund was launched a year and a half ago, with nearly 95 percent of the capital coming entirely from Citadel.  The money will be […]

Reuters - Lehman Brothers Holdings Inc agreed on Wednesday to sell its 45 percent stake in hedge fund R3 Capital Partners for $250 million in cash and a $250 million investment in another fund managed by R3.
Lehman, which filed for bankruptcy protection last month, acquired the stake in May in return of a roughly […]

Vindicator - A bankruptcy judge said Wednesday he may let Delphi pursue wider fraud claims against the Appaloosa Management hedge fund, which backed out of a deal to invest $2.55 billion in the auto supplier.
Appaloosa had led a group of investors to inject as much as $2.55 billion into Delphi in exchange for stock once […]

Houston Chronicle - Boone Pickens, the billionaire founder of BP Capital LLC, said 15 percent of his hedge funds’ holders have asked for the option to withdraw their money after he lost more than $1 billion in energy trades this year.
Pickens, who manages funds linked to energy commodities and equities, said his equity fund has […]

Reuters UK - British listed hedge fund manager Man Group Plc said on Monday first-half sales rose by about 25 percent to $10 billion, but its shares fell as market turbulence hit its funds under management.
Funds under management fell by $5.0 billion to about $70.3 billion — 12 percent down on the $79.5 billion at […]