Dan Loeb's Offshore Fund
returned an additional 3.9% in January beating both the SPY and fellow hedgies David Einhorn and Whitney Tilson. Dan Loeb's other big winners in January were
(POT - Get Report)
Smurfit Stone Container
and Aveta. His biggest losers were GLD, Brenntag AG,
Mead Johnson Nutrition
, African Barrick Gold, and
(ACW - Get Report)
Potash returned 17.7% in January. This is one of hedge funds' favorite investments. Mohnish Pabrai also has Potash in his portfolio.
In January, Smurfit-Stone Container Store announced that it will be acquired by
for $35 a share. The stock gained 46% in January. David Tepper and Barry Rosenstein were other SSCC investors.
Alpha Natural Resources
also agreed to buy Massey Energy for a 21% premium. MEE returned 17% in January, contributing to Loeb's outstanding performance. Some of
Alpha Natural Resources insiders were selling
weeks before the announcement.
Gold is the largest position in Loeb's portfolio. GLD lost 6.4% in January. There are several
hedge funds that invested in gold
and suffered from the decline in gold. The decline in African Barrick Gold, which trades in London, reached almost 18% in January. Mead Johnson Nutrition's decline reached 7% in January, underperforming the SPY's 2.4% increase. Finally Accuride lost nearly 6% in January.
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