Tilson’s hedge fund T2 Partners rose 12.6% in January, according to a letter to investors. [via Jacob Wolinsky at ValueWalk]
“Some might say that we have a hot hand so far this year, but this would be incorrect. Our hands have been largely idle, as our portfolio today is nearly identical to the one that did so poorly last year,” the hedge fund manager wrote in the letter.
On the long side, we had many big winners including Netflix (73.5%), Pep Boys (36.4%, which received a buyout offer yesterday), Goldman Sachs (23.3%), Iridium warrants (22.8%), ResourceAmerica (19.7%), J.C. Penney (18.2%), Dell (17.8%), Howard Hughes (17.3%), Citigroup(16.8%), and Microsoft (13.8%). We had no losers of note on the long side other than SanDisk, which declined 6.8% after it gave weak guidance when it reported earnings last week (we took advantage and bought more).
Our short book offset some of our gains thanks to Lululemon (35.3%), Interoil (31.2%),ReachLocal (27.5%), First Solar (25.2%), Green Mountain Coffee Roasters (18.9%), ITTEducational Services (15.8%), and Salesforce.com (15.1%).