Citrone’s Discovery Capital Gained 4% in January on Market’s Value Move
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Discovery Capital Management gained 4% in January, becoming one of the few hedge funds to make money in a month of market turbulence.
Rob Citrone’s $2.4 billion macro firm benefited from the rotation from growth stocks to value, according to a person familiar with the matter. The fund’s portfolio was positioned for a hawkish Federal Reserve and a taper tantrum. It profited from shorts on growth stocks, long wagers in emerging markets and bets around the energy sector and special situations, the person said.