Other hedge fund managers who reduced their U.S. equity positions in the third quarter include Zach Schreiber, who had previously worked for Druckenmiller. His PointState Capital’s U.S. stock holdings fell in value by more than half to $3.2 billion, according to filings. The hedge fund sold out of 69 equity positions including energy companies TransCanada Corp. and Whiting Petroleum Corp., while adding 18 new stakes, according to a filing.
At David Einhorn’s Greenlight Capital, whose main hedge fund has slumped 16 percent this year through October, equity holdings dropped by a quarter to $5.9 billion. The firm sold out of seven investments and added six, a filing showed.
John Burbank, the Passport Capital founder, told clients last month that his hedge fund has “greatly” reduced its market exposure worldwide as it prepares for a China-led global downturn. The firm’s U.S. equity holdings fell by almost a fifth to $2.5 billion, according to a filing. Passport got out of 112 investments while adding 44.