Hedge Fund Manager Grange Johnson Is Up 65%+ For 2010

Grange Johnson, the activist investor who runs two hedge funds under LaGrange fund umbrella, is up more than any hedge fund manager we’ve seen yet in 2010 – a whopping 65% plus.

LaGrange manages $150 million in the two funds, and saw huge gains from Coinstar, the maker of those red-box movie rental vending machines you sometimes see in grocery stores or pharmacies. 

The stock doubled this year, but LaGrange says he didn’t just hold it. He bought Coinstar at the lows (low $40s) and sold it on the highs (mid to high $50s), he says, and the stock ended up making a up a quarter of his total returns.

From the Wall Street Journal:

LaGrange Special Situations Yield Fund, which invests in high-yielding debt and equity investments, returned an estimated 65% last year, and LaGrange Capital Partners LP Fund an estimated 73%, according to a person familiar with the situation. The funds have a combined $150 million in assets under management.

Those little red boxes. Who knew. 

If only Johnson managed more than $150 million – imagine how much he’d have made. Paulson, by contrast, was up less than 20% but is expected to take home over a billion. Although of course, it becomes more difficult to earn blockbuster returns with higher assets under management.

Johnson is bearish for the coming year, by the way. Click here to read why in the Wall Street Journal >

Click here to see the 21 best hedge fund managers of 2010 >

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