Reuven Capital Up Nearly 40% After Big Q3

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.

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