Activist hedge fund Harbinger Capital Management is up more than 40% through the first 10 months of the year.

The New York-based hedge fund, which spun off from former parent Harbert Management this year, has seen its flagship Harbinger Capital Partners I return about 41% through the end of last month. That’s more than three times the average hedge fund’s return, according to most major indices.

Even better has been Harbinger's Credit Distressed Blue Line Fund, which is up 54.56% through Oct. 31.

The big gains for Harbinger also means the firm has wiped out its losses from last year, when its flagship dropped 27%.