5 Best Performing Hedge Funds of 2021

2. Impala Asset Management

YTD Gain as of December 23, 2021: 55.5%

Impala Asset Management is an investment firm headquartered in Connecticut. It is chaired by Robert Bishop and also has offices in Florida and New York. Bishop has had an illustrious career in finance and was previously the chief investment officer at Soros Fund Management, one of the most successful hedge funds of all time. Between 2015 and 2017, Impala delivered an average annual return of around 29% to investors. The fund focuses on investments in basic materials and services, offering a healthy mix of value and growth to investors. 

A top holding of Impala Asset Management is Devon Energy Corporation (NYSE:DVN), an independent oil and gas firm. Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm GQG Partners is a leading shareholder in Devon Energy Corporation (NYSE:DVN) as of Q3 2021, with 13.9 million shares worth more than $493 million. 

In its Q4 2020 investor letter, GoodHaven Capital Management, an asset management firm, highlighted a few stocks and Devon Energy Corporation (NYSE:DVN) was one of them. Here is what the fund said:

“After a rough start to the year our two biggest energy holdings – WPX Energy rebounded materially in the last six months though energy was still our biggest detractor for the year. I’ve previously written about deciding earlier this year to direct new capital towards better businesses versus adding more to the energy sector, but given the material optionality at WPX, we opted to maintain a material exposure. Recently WPX announced an all stock merger with a larger competitor – Devon Energy – which will leave the new company with plenty of cash flow at lower oil prices, less leverage, and material upside to higher commodity prices.”