Senvest Capital’s strategy involves seeking out stocks that could double—or more—in value. Last year, the hedge fund found such stocks, not once, but seven times.
Indeed, seven of Senvest Partners’ 20 largest holdings returned 100% or more last month, powering the $550 million hedge fund to a 79.4% return. The gain earned the 17-year-old fund the title of Bloomberg Markets’ best-performing mid-sized hedge fund of 2013.
Impressive as the return was, it isn’t even close to Senvest’s best year, which was 2009, when it returned 229%. The fund also rose 169% in 2003, although it lost 54% in 2008.