Below is a list of the 10 largest hedge funds in the US (2012) ranked by assets under management:

Fund Name Location AUM (USD) Strategy
Bridgewater Associates Westport, CT $75.2 billion Global Macro, Long/Short
JP Morgan Asset Management New York, NY $42.2 billion Fund of Funds, Multi-Strategy, Long/Short
Och-Ziff Capital Management New York, NY $29.5 billion Convertibles, Global Macro
The Baupost Group Boston, MA $23.9 billion Global Equity, Long/Short
Angelo, Gordon & Co. New York, NY $22.0 billion Credit, Managed Futures, Real Estate
Paulson & Co. New York, NY $21.6 billion Event Driven, Multi-Strategy
Farallon Capital Management San Francisco, CA $19.2 billion Arbitrage, Multi-Strategy
Goldman Sachs Asset Management New York, NY $18.5 billion Fund of Funds, Mult-Strategy, Long/Short
Renaissance Technologies New York, NY $18.5 billion Quantitative
Elliott Management New York, NY $18.0 billion Credit, Global Equity

Source: HedgeLists.com, March 15, 2012
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United States Hedge Fund List