Sunday, 23 October 2016
Last updated 1 day ago
Oct 28 2013 | 12:00pm ET
Reuven Capital Investments must have been sad to see the third quarter go.
The New York-based hedge fund returned 29.92% in July, August and September, including a 17.2% surge in the latter, ValueWalk reports. The firm's flagship fund is now up 38.98% on the year.
In its letter to investors, Reuven noted that one of its largest long positions, in organic food company SunOpta, received a large amount of coverage in September. "With four new analyst reports and one top fund manager at Gabelli mutual funds highlighting the company on CNBC as a top pick in the last month, we're please someone is finally listening to our simple instructions," the firm wrote.
Reuven also touted its long position in Advanced Micro Devices, and a new short position in MercadoLibre, the "eBay of Latin America," which Reuven says is severely overvalued.