Tuesday, 28 July 2015
Last updated 3 hours ago
May 22 2012 | 10:41am ET
There aren't too many hedge funds that can say they're beating the broader markets this year, but Pennant Capital Management has managed it with a concentrated stock portfolio.
The firm's Broadway Gate Fund is up 14% through April, ahead of the Standard & Poor's 500 Index, which returned slightly less than 12% over the same period, ValueWalk reports. The average hedge is up closer to 4% on the year.
And while the average hedge fund was roughly flat in April, according to industry indices, Broadway Gate rose 3.92%.
The $1.2 billion fund has almost one-third of its assets in its biggest holdings. And most of its holdings are in relatively big companies, with 60% of its longs in stocks with market capitalizations in excess of $5 billion.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…