Best performing mutual funds in 2007 and 2008

BEST PERFORMING MUTUAL FUNDS IN 2007 AND 2008 UPDATE

Paulson's Advantage fund was up 2.2% for December and up 24.1% for 2008. Paulson & Co (John Paulson): Their Credit Opportunities I & II funds were up about 15% for the year as of the middle of December.Pabrai Investment Funds: Mohnish Pabrai's funds were -59.1%, -60.9%, and -60% for 2008, as detailed in their recent investor letter.Lastly, in our recent hedge fund tracking series, we've covered Viking's portfolio holdings. You can view their month by month performance breakdown here and their Q3 investor letter in. Andreas Halvorsen's Viking Global: Their Viking Global Equities III fund was +1% for December and finished the year -1.14%.Lee Ainslie's Maverick Capital: A rough year for them, as their Maverick Fund finished -26.2% for 2008.Perry Partners: Down 1.8% for December, down 28.36% for the year.BlueGold Global: They've put in a solid year, ending up +5.1% for December and +209.7% for 2008.Kovner is also featured in Jack Schwager's book, Market Wizards. Bruce Kovner's Caxton Associates: Their global investment fund was +0.1% for 2008 and here are their portfolio holdings.Louis Bacon's Moore Capital Management: Their Global Investments fund finished 2008 -4.3%, their Global Fixed Income fund finished +1.3%, and their Emerging Markets Fund finished -17.6%.Tudor Investment Corp (Paul Tudor Jones): Their Raptor global equities fund finished 08 -20%, their flagship Global BVI fund finished -4.9%, and their Tensor fund (quant) ended +35.4%.Jim Chanos' Kynikos: Their Opportunity fund was up 3.2% for December and finished the year up 15.1%.You can view Citadel's recent portfolio holdings here. This means that the pain continued for Griffin's team, even after a painful October and November. Keep in mind these were estimates as of around December 24th. Ken Griffin's Citadel: According to preliminary estimates, Citadel's main funds, Kensington and Wellington, were -9% through most of December, leaving their main fund -53% for 2008.In it, you learn about Greenlight's theses formation and investment process: Fooling Some of the People All of the Time. Also worth checking out is Einhorn's book, where he details his battle shorting Allied Capital. If you're curious, their portfolio holdings are listed here. David Einhorn's Greenlight Capital: Their Offshore fund finished '08 -16.5% and their Greenlight LP finished down over 22%.and posted the video of Ackman's lengthy interview with Charlie Rose here. We've detailed the rest of Pershing Square's portfolio holdings here. Ackman's Pershing Square IV fund, which invests solely in Target (TGT) with 2x leverage, was -68% for 2008, following their -43% performance in 2007 Pershing owns 9.5% of TGT. Bill Ackman's Pershing Square: Ackman's main fund, Pershing Square International Ltd, ended was -0.2% for December and ended 2008 -12%.We just recently covered Tontine's portfolio holdings here. This new fund will not use leverage and will invest in assets deemed undervalued. In addition to those funds, Gendell will be opening up a new fund in February, the Tontine Total Return Fund. That leaves two of his funds still open: Tontine 25 and Tontine Financial. Earlier, Gendell announced that he would be closing two of his funds: Tontine Capital Partners LP and Tontine Partners LP. Their Tontine 25 LP fund was -2.2% for December and ended 2008 -63.6%. Their Tontine Partners LP fund was -12.1% for December and finished the year -91.5%. Jeffrey Gendell's Tontine Associates: Simply put, Tontine had a year to forget.Hedge Funds in general finished 2008 -18.3%, compared to S&P -37%.2008 was a rough year for hedge funds, as evidenced by their year-end performances listed below.

BEST PERFORMING MUTUAL FUNDS IN 2007 AND 2008 UPDATE

If you missed it, you can check out our November update as well. We're back with our monthly aggregation of performance numbers from some noteworthy hedge funds.

Best performing mutual funds in 2007 and 2008