The official list of top 20 hedge fund managers featured many recognized names, but Ray Dalio (Trades, Portfolio)’s world’s-largest hedge fund Bridgewater Associates amassed the most profits for its clients in 2017.
According to the stats, published by LCH Investments NV every year, Dalio has accumulated $49.7 billion in net gains since Bridgewater’s inception in 1975. Last year’s gains stumbled somewhat though, with the fund pulling in only $300 million, making it the fifth poorest fund of 2017. At $122 billion in assets under management, Dalio’s hedge fund is more than three times the size of the next largest contender.
Starting his hedge fund in 1973, two years earlier than Dalio, George Soros (Trades, Portfolio) came in second. The legendary investor landed $42.9 billion in net gains since his firm was founded. As of Dec. 31, it had $27 billion in assets under management. Both Dalio and Soros kept their first and second spots from 2016’s rankings.
Other notable investors tracked by GuruFocus populated the list.
- Seth Klarman (Trades, Portfolio) of Baupost ranked sixth, falling two places from fourth place in 2016, for his $27 billion in gains.
- Andreas Halvorsen (Trades, Portfolio) of Viking ranked eighth, edging up one place from ninth, with $26 billion in gains.
- John Paulson (Trades, Portfolio) fell two places to 15th from 13th with $18.1 billion in gains.
The best 2017 went to Steve Mandel (Trades, Portfolio) of Lone Pine Capital, who moved up to fourth place from eighth, for clocking $5 billion in gains for the year. Mandel founded Lone Pine in 1996 and has $15.9 billion in assets. Lone Pine boasts 19.5% annualized returns since 1997, according to a Bloomberg article. Mandel’s win marked a comeback from 2016, when he lost $100 million.
As of Sept. 31, Mandel’s top positions were Alibaba Group (BABA, Financial), Constellation Brands (STZ, Financial) and Charter Communications (CHTR, Financial).
John Paulson (Trades, Portfolio) was distinctive as one of only three of the list’s managers to lose money in 2017. The founder of Paulson & Co. who profited handsomely in the financial crisis saw a $400 million loss for the year. His fund, founded in 1995, has $8.6 billion in assets under management, down from $9.8 billion on the same list for 2016. That year, he lost $3 billion, the biggest loss on the list.
