Mitch Julis and Josh Friedman’s Canyon Value Realization Fund Ltd (Class A shares) had 3.59% returns for the fourth quarter and 15.55% in returns for 2013 (both net fees) with a gross internal rate of return (IRR) of 27% and volatility of just 4.1%, compared to 8.5% for the S&P 500 (INDEXSP:.INX), according to a shareholder letter reviewed by ValueWalk. While its total returns didn’t keep up with the S&P 500’s incredible year, its stock portfolio outperformed the market and the fund generated alpha in multiple asset categories. CVRF sees few obvious options for next year “Investors searching for ‘the next…
CVRF Looks To Activism, RMBS For 2014
![](https://hedgefundalpha.com/wp-content/uploads/2014/01/CVRF-allocation-summary-0114.png)