York Capital Management managed considerable returns this year. The flagship hedge fund, York Multi Strategy, with AUM of $5.1 billion, has returned 10.29 percent YTD. This fund invests both in debt and equities, and using the event driven approach. The fund returned 1.1 percent in November, and is up 2.4 percent for the two months of Q4.
York Credit Opportunities Fund has been particularly successful, with a year to date return of 16.3 percent, the fund returned 1.1 percent last month and is up 3 percent for the quarter. The Credit Opportunities Fund mostly invests in distressed debt, especially in those companies that are trading below their intrinsic value. The AUM is up from $4.2 billion in October, to $4.3 billion in November.
The European Opportunities Fund (AUM $1.9 billion) is up 9.3 percent for the year, with +0.4 percent in November and +1.92 percent for Q4 so far.York Capital hasn’t been equally successful in Asian markets, as the York Asian Opportunities Fund is down 1.81 percent for the quarter and -1.5 percent in November. The total assets are in the range of $380 million, down from $390 million in October. The fund is up 2.36 percent for the year.
York Total Return, with assets of $1.5 billion, is up 11.7 percent YTD, with +0.90 percent in November and +2.72 percent in the quarter.
On average, taking account of all the above mentioned strategies, York Capital has returned almost 10 percent YTD. The total AUM is above $13 billion.
According to the form 13f filed for Q3, the top holdings are in American International Group, Inc. (NYSE:AIG), Yahoo! Inc. (NASDAQ:YHOO), Hertz Global Holdings, Inc. (NYSE:HTZ), General Growth Properties Inc (NYSE:GGP), and Dun & Bradstreet Corp (NYSE:DNB). York Capital was founded by James Dinan in 1991, his net worth is estimated at $1.4 billion.