Blue Harbour Unloads Its Largest Position (Institutional Investor) Here is how the activist hedge fund fared with its investment in Investors Bancorp, which accounted for 18 percent of its U.S. long assets. Cliff Robbins’ Blue Harbour Group earlier this week unloaded its entire stake in Investors Bancorp – which accounted for 18 percent of the activist hedge fund’s U.S. long portfolio – in a single trade. It’s a decisive end to a long-running trade that turned out to be just a so-so performer for the activist hedge fund firm, which is having an otherwise strong year. Blue Harbour’s long-only strategy has gained about 29 percent this year through November. This compares with an 18 percent return for the Russell 2000 Value index, the hedge fund’s chosen benchmark, according to a person familiar with the results.