1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies

Hedge Fund Perry Capital Releases Q2 Letter; Exits Citigroup Common Stock

July 21, 2010 | About:

Hedge fund Perry Capital just released its Q2 shareholder letter. The fund ended the second quarter up approximately 1.87%, and 9.08% year-to-date.

Perry attributed his gain to “we were cognizant of these potential risks and took down long exposure and added protection to the portfolio.”

Perry sold out Citigroup (NYSE:C) common equity, “but given the appreciation of the stock price and our renewed concerns about GDP growth and the ramification of financial reform, we decided to liquidate this investment.” Perry Capital started its Citigroup position in the third quarter of 2009. Citi was Perry’s second largest holding as of March 31. This is the holding history of Perry Capital with Citigroup.

Perry Capital have had very good long term track record. They never had a down year except for 2008, when the fund lost 27%. This is the link to the complete letter. (Courtesy of marketfolly.com).

It is interesting to see that Perry Capital had a much smaller asset base to report in 13F filings. It is not clear if this is from the reduction of asset under management. This is the history:

To check the portfolio of Perry Capital, go to http://www.gurufocus.com/holdings.php?GuruName=Richard+Perry&sort=position

Rating: 2.7/5 (7 votes)


Please leave your comment:

GuruFocus has detected 3 Warning Signs with Citigroup Inc $c.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.

User Generated Screeners

kalletalPeter Lynch
kalletalJoel Greenblatt
kalletalKen Fisher
pbarker46Hist. Low PB
DBrizanUSA gordon 27Mar2017
hcgaron2nd F-Screen
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)