Pennant Capital Fund Up 14%

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.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of