Hound Partners Variable Beta Fund, LP
Hound Partners Variable Beta Fund, LP is a hedge fund based in New York, New York. According to its most recent Form D, filed Jul 10, 2026, the fund has sold $1,103,365,831 of interests to 36 investors since its first sale in Oct 2020. The minimum investment it accepts from an outside investor is $10,000,000. It relies on the Section 3(c)(7) exclusion, so investors generally must be qualified purchasers. The offering uses Rule 506(b), which does not permit general solicitation. Related persons named in the filing include Hound Performance, LLC; Hound Partners, LLC.
Performance
No verified returns have been reported for this fund. As a rough guide, Hound Partners, which manages it, disclosed U.S. stock holdings that returned an estimated -2.1% 2026 YTD through Jun 30 (S&P 500: +9.5%), based only on its public 13F filings. Over a longer period, Q3 2024 to Q2 2026, the estimate is +57.9% (S&P 500: +37.2%).
This estimate covers the firm's whole disclosed long U.S. stock portfolio. It is not this fund's return and excludes dividends, fees, shorts, derivatives, bonds, cash and trading within each quarter.
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- Total raised
- $1,103,365,831Cumulative sales reported on Form D
- Investors
- 36
- First sale
- Oct 1, 2020
- Minimum investment
- $10,000,000
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Hound Performance, LLC; Hound Partners, LLC
- Latest Form D
- Jul 10, 2026
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about Hound Partners Variable Beta Fund, LP
What is the minimum investment for Hound Partners Variable Beta Fund, LP?
According to its latest Form D, filed Jul 10, 2026, the minimum investment Hound Partners Variable Beta Fund, LP accepts from an outside investor is $10,000,000.
Who can invest in Hound Partners Variable Beta Fund, LP?
Hound Partners Variable Beta Fund, LP is generally open only to qualified purchasers (generally individuals with at least $5 million in investments), because it relies on Section 3(c)(7). It uses Rule 506(b), which does not allow general advertising.
How much has Hound Partners Variable Beta Fund, LP raised?
Hound Partners Variable Beta Fund, LP reports $1,103,365,831 sold from 36 investors on its Form D filed Jul 10, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is Hound Partners Variable Beta Fund, LP based?
Hound Partners Variable Beta Fund, LP is based in New York, New York and is managed by Hound Partners.
When did Hound Partners Variable Beta Fund, LP launch?
Hound Partners Variable Beta Fund, LP reports its first sale in Oct 2020.
Size compared with every hedge fund
Raised more than 89% of the 2,544 hedge funds based in New York, and more than 91% of all 10,308 that report sales.