Senvest Sets Sites High, and Gets There, Too

March 31, 2014 Marcus Black Company Spotlight

The best performing midsize fund in 2013,  according to Bloomberg Markets’ hedge-fund ranking, was Senvest Partners, reeling in a 79.4 percent catch overall. Richard Mashaal and Brian Gonick, Senvest’s managers, have their eyes set towards stocks which have a good chance of doubling, or even tripling in price in from one to three years.

The $550 million long/short fund saw seven of their top 20 positions lift-off by 100 percent or even more, accounting for the fund’s overall phenomenal return.

Since Senvest was launched 17 years ago the hedge fund has gained an average of 20.6 percent each year, as of December 31, 2013. Of course the fund has had its share of downturns, including a crippling loss of 54 percent in 2008. That downturn, however, was easily compensated by a skyrocketing comeback the following year of a 229 percent gain in 2009, while buoyed by the impressive, to say the list, uptick of 169 percent in 2003.

Senvest’s largest holding is Howard Hughes Corporation, says Gonick. Shares of this Dallas-based property management company climbed by 17 percent so far this year; reaching a price of $14.43 on March 24. Hughes Corp’s chairman is Bill Ackman, hedge-fund manager of Pershing Square Capital Management LP.

Bill Ackman, Brian Gonick, Howard Hughes Corp, Richard Mashaal, Senvest,

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