Despite Difficult Market, Activists Continue to Perform

Major firms such as Third Point, Pershing Square and ValueAct avoided momentum stocks and profited off underperformers in the first quarter.

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While most long-short and macro managers lost money or barely broke even in the first quarter, one group of hedge fund firms posted decent results for that tumultuous period: the activists.

Most of them not only made money, they outperformed other managers.

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