Clarium Capital is shaping up to be this year’s Paulson & Co.

The $6.4 billion San Francisco hedge fund is up almost 58% in the first half, it told investors. The firm returned 16% last month, with 8.9% of the return coming on U.S. equity investments and the remaining 5.6% coming from foreign stocks.

Clarium, which was set up by PayPal co-founder Peter Thiel, follows a global macro strategy.

The firm’s strong June follows similarly impressive months in January and May, when it rose 24.4% and 11.2%, respectively, Reuters reports. The only black mark on its first-half record was a 9.9% drop in March.

Last year, New York-based Paulson & Co. made headlines posting triple-digit gains by betting against mortgage-backed securities. Like Paulson last year, Clarium has enjoyed a corresponding jump in assets under management, as new money chases performance. The firm’s assets under management rose almost 70% in the second quarter, up from $3.8 billion at the end of March.