Q3 2026 — by portfolio value
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Press coverage of tracked managers
D.E. Shaw is adapting its strategy to counter intensifying competition for talent and rising technology costs by moving some of its best investment ideas to an employee-only fund and tightening client terms. With record assets of about $125 billion, strong recent returns, and a collective leadership structure, the firm is also expanding into human-trader-led strategies while maintaining a strict focus on long-term risk management.
Elliott Investment Management (led by Paul Singer and Jonathan Pollock) warned that debt-fueled risk-taking, AI hype, budget deficits, inflation, private credit, and speculative trading indicate a substantial bear market may be ahead, comparing the climate to the 1920s boom preceding the Great Depression. The $80 billion firm reported flat third-quarter returns and under 2% gains for the first nine months of 2026, trailing the S&P 500, T-bills, and the hedge-fund composite index. The firm is positioned defensively, prioritizing capital preservation to deploy during turmoil, and sees opportunities in healthcare activism, producing energy properties, and dislocated credit markets.