SAC Soars In First Half

Jul 25 2011 | 2:06pm ET

SAC Capital Advisors has avoided the pitfalls that have found a great many of its peers this year.

The $14 billion hedge fund's flagship International fund is up 9.2% this year, Bloomberg News reports. The big return—the average hedge fund was close to flat in the first half, according to several industry indices—was achieved in spite of a pedestrian June, when SAC International rose just 0.14%.

Some of SAC's largest positions paid off big in the first half. Genzyme Corp., its top U.S. stock holding, was sold in April, while its second- and fifth-largest holdings have soared 12% and 29% this year, respectively.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…