James Dinan’s York Capital Management has produced 14% CAGR returns, since its foundation in 1991. The three basic investment hedge funds are Diversified, Concentrated and UCITS. As of August 2012, York Capital Management manages a total of 14.5 billion. The fund’s top five holdings are in Dollar Thrifty Automotive Group, Inc. (NYSE:DTG), makes up 10 percent of the portfolio, Goodrich Corporation (NYSE:GR), 5.8 percent, Hertz Global Holdings, Inc. (NYSE:HTZ) 4.0 percent , Tyco International Ltd. (NYSE:TYC) 3.9 percent, United Rentals Inc (NYSE:URI) 3.6 percent of the portfolio.
The August update on the fund’s performance is as follows:
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York Multi Strategy Fund is York’s largest fund with an AUM of $ 5 billion. The fund was up 2.6 percent in the last month. Multi Strategy improved by 6.2 percent on a year to date basis. The credit opportunities fund, which is the second largest with an AUM of $4 billion, was up 1.7 percent in August, and 10.6 percent for the year so far. The European fund (AUM $1.9 billion) was up 0.9 percent in the last month and 6.8 percent on a YTD basis.
York Total Return, another diversified event-driven fund with focus on hedges was up 2.2 percent in August and +7 percent in 2012 so far. Total Return manages about $1.5 billion in assets.
In the concentrated strategy, the largest assets are invested in York Select with $890 million. Select was up 6.8 percent for the month and is +1.75 percent for the year so far.
The UCITS Event driven fund, launched in 2009, was up 2.72 percent in August. The UCITS strategy is based around two funds (the Event driven and the Asian event driven fund) and manages $580 million in total.
The York Capital has an attractive track record with losses seen in only few years, since inception. The fund was down 5.93 percent in 2011. The latest updates on performance show a positive trend for the year so far.