Samlyn Capital cuts staff and exits most equity sectors in financials pivot

Samlyn Capital, a $7 billion hedge fund managed by Rob Pohly, has announced a significant shift in its investment strategy. The New York-based firm has exited equity positions across nearly every sector outside global financials in response to a challenging year and the recent market selloff. Bloomberg reported the move, which comes as the hedge fund industry grapples with substantial losses.

Founded in 2007 by Pohly, who previously worked at Tiger Management and Sigma, Samlyn has concentrated its portfolio on global financial equities, a sector in which the founder has extensive experience. The restructuring involves cutting senior investment staff focused on other industries while retaining analysts specializing in financial stocks. The firm is not returning capital to investors but is reinvesting the proceeds from portfolio reductions in financial equities or retaining them as cash for future deployment.

According to people familiar with Samlyn's performance, the firm was down approximately 5% year-to-date as of October. The shift in strategy is part of a broader industry reassessment, with managers reducing risk, restructuring investment teams, and reconsidering portfolio allocations following the sharp market reversals in October. Samlyn remains the sole portfolio manager under Pohly's leadership.