Several major global hedge funds, known for their stable returns, experienced losses in March due to the Middle East conflict disrupting energy, bond, and stock markets. According to BlockBeats, traders were forced to unwind crowded positions, leading to declines across various funds. Sources indicate that multi-strategy hedge funds such as ExodusPoint Capital Management, Balyasny Asset Management, and Millennium Management saw downturns, erasing gains from the previous two months. However, some funds, like Kepos Capital's Alpha fund and Swiss firm ADAPT Investment Managers, managed to perform well despite the turmoil.