Daniel Benton is shutting down his hedge fund firm, Andor Capital Management.
This is the second time Benton is closing the firm. He previously shuttered it in 2008 amid the financial crisis.
It is not known how his fund is faring this year. But, the Rye Brook, New York manager is known to run a very concentrated portfolio of tech stocks. This has caused him to frequently post huge monthly swings in performance.
He has especially hitched his fate to Tesla Motors, the electric car maker. The stock typically accounts for more than one-third of his U.S. equity long assets.
Tesla shares are down more than 13 percent for the year-to-date.
His next four largest holdings as of the end of the year were so-called FANG stocks — Facebook, Amazon, Netflix and Google (now called Alphabet).
Facebook is up about 14 percent this year while Amazon is up about 3 percent. Netflix is down about 20 percent but almost double its price at the start of 2015. Alphabet is up nearly 5 percent for the year.
Andor had a little more than $1 billion in assets under management at year-end, according to a regulatory filing.
Benton, a former Goldman Sachs PC analyst, co-founded Pequot Capital Management with Arthur Samberg. Andor was spun out of Pequot in 2001, and its assets peaked at $9.6 billion in 2003.
However, after suffering huge losses in the 2008 financial crisis, Benton shut down the Rye Brook, New York-based firm.
Benton then began his latest chapter when he revived the firm in 2011.
