Hedge Funds Lose Tons Of Money After Family Dollar Drops 7%

By Bob Luochang Yu

Family Dollar Stores, Inc. (FDO) drops about 7% today after the company reported its 10Q for fiscal first-quarter 2012. According to WSJ, Family Dollar’s earnings rose 8.1% as the discount retailer’s same-store sales improved due to higher traffic and customer transaction values. However, its revenue missed analyst expectations.

FDO closed on Thursday at $57.96 and is trading at $53.87 at 11:44AM EST on Friday, losing 7.06% or $4.09. Several hedge funds may suffer big losses due this price decline:

1. Pershing Square – Bill Ackman: loses $46.58 million

2. Trian Partners – Nelson Peltz: loses $29.57 million

3. Scout Capital Management – James Crichton and Adam Weiss: loses $14.43 million

4. Renaissance Technologies – Jim Simons: loses $10.36 million

5. Paulson & Co – John Paulson: loses $10.13 million

6. Pennant Capital Management – Alan Fournier: loses $10.07 million

7. Navellier & Associates – Louis Navellier: loses $4.21 million

8. D. E. Shaw – David E. Shaw: loses $4.08 million

9. Glenview Capital – Larry Robbins: loses $3.39 million

10. Sandell Asset Management – Tom Sandell: loses $2.53 million

via Hedge Funds Lose Tons Of Money After Family Dollar Drops 7%.