Hedge Fund Caledonia Falls 9% This Year as Stock Picks Sour
- Zillow, Flutter among the fund’s positions that have declined
- Caledonia betting on big payday from stake in Scientific Games
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Australian hedge fund Caledonia has lost more than 9% since the start of January, according to people familiar with its performance, lagging stock-picking peers who have posted strong returns this year.
The $10 billion fund, known for its concentrated equity bets, has been weighed down by several of its core positions. Online real estate company Zillow Group Inc. lost almost 30% through August, while Flutter Entertainment Plc fell about 7% and Just Eat Takeaway.com NV declined 17%.