Value Investing News

Special situations and deep value opportunities continue to propel the Special Situations Real money Portfolio to new heights. In June, I cashed in on a great medical device manufacturer net-net and two closed-end fund tender offers. The portfolio is up 27.07% in the first half of 2009 and my annualized rate of return has now climbed to 28.29%.

The year-to-date return for the Special Situations Real Money Portfolio is 18.25% and the annualized growth rate since inception in 2004 has now climbed to 26.43%! This month I review my positions in Wilshire Enterprises (WOC), Neuberger Berman closed-end funds, Heelys (HLYS), XTENT (XTNT), and Xedar Corp. (XDRC).

A summary list of 58 companies targeted by 61 shareholder activists during April 2009.

A summary list of investments made by shareholder activists during December.