March Meltdown: Hedge Funds Crushed Amid Historic Shorting: Millennium, Citadel Among Funds Steamrolled

With still one day to go, we reported that March was shaping up as the worst day for fundamental investors since 2022. And now that the turbulent month is in the history books, we can make it official: March was the worst month for fundamental long/short investors since October 2022, while some funds suffered the biggest losses in their history. 

Let's start at the top. According to the just published report from Goldman's Prime Brokerage (available to pro subs), fundamental long/short asset weighted returns were -5.03% in March vs. a total return for the MSCI of -6.73%