Hugh Hendry's Top 10 Trades

MarketFolly got a hold of Hugh Hendry’s latest investor letter, which reveals that his fund pared back on exposure during the market rally in January.

It also lists the funds top 10 holdings/trades:

1. Currency: Long EUR / Short LVL: 19.8% (Latvian Lats)

2. Australian 10 year government bonds: 7.4%

3. German 30 year government bonds: 7.1%

4. MetroPCS Wireless 9.25% 2014: 2.9%

5. Long USD / short GBP: 2.8%

6. Imperial Tobacco: 2.6%

7. British American Tobacco: 2.6%

8. Altria Group: 2.5%

9. Lorillard: 2.5%

10. Philip Morris International: 2.4%

Read more at Market Folly >

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.