7 Hedge Funds Hurt in Alleged Longtop Financial Technologies Fraud

Longtop Financial Technologies went down 25% during the past couple of days after a report by Citron Research alleged that every financial statement coming from LFT is fraudulent. Here are the seven hedge funds that have the largest positions in LFT at the end of December:

1. Lee Ainslie’s Maverick Capital: $142 Million invested at the end of December

2. Chase Coleman’s Tiger Global Management: $94 Million invested at the end of December.

3. Stephen Mandel’s Lone Pine Capital: $76 Million invested at the end of December.

4. Eric Mindich’s Eton Park Capital: $72 Million invested at the end of December.

5. Miguel Nogales’ Generation Investment Management: $31 Million invested at the end of December.

6. Phill Gross’ and Robert Atchinson’s Adage Capital: $19 Million invested at the end of December.

7. J Kevin Kenny Jr’s Emerging Sovereign Group: $13 Million invested at the end of December.

It seems like Julian Robertson’s tiger cubs are hurt the most. It is also possible that these funds sold some or all of their positions during the past four months and avoided these steep losses.