Hedge Fund T2 Partners: Latest Investor Letter

by: Market Folly
Whitney Tilson and Glenn Tongue's hedge fund T2 Partners is out with its August letter to investors. In it, we see that they are up 12.3% net for the year compared to the S&P -2.1%. Some of their long positions that have performed well include: Osteotech (OSTE), Resource America (NASDAQ:REXI), Liberty Acquisition (warrants), and Wesco. On the short side of the portfolio, they found success in homebuilders, for-profit education plays, Ambac, and Lululemon Athletica (NASDAQ:LULU).
Tilson's hedge fund has been positioned conservatively as they see an unfavorable economic outlook. Their letter takes a closer look at their position in Liberty Acquisitions warrants which you can read below. Tilson then confirms that they've added to their bearish bet against InterOil (NYSE:IOC) after the company reported second quarter earnings. He also goes into detail about his rationale behind this short in the embedded letter below:


You can download a .pdf copy here.